Myanmar to open doors to foreign insurers
03 October 2016
Myanmar will let foreign insurers enter early next year as part of a broader push to develop its financial services sector, according to local news reports…
International
Crisis management on rise as terror risk changes: Aon
03 October 2016
Increased terror risk in Europe and the US has driven companies to focus more on their crisis management plans, according to Aon…
FEMA seeks reinsurance back-up as claims rise
03 October 2016
The US Federal Emergency Management Agency is turning to reinsurance markets for flood cover for the first time, after disasters in recent years caused its debt levels to rise…
Swiss Re exec takes Lloyd’s Singapore role
03 October 2016
Lloyd’s has named Angela Kelly as Country Manager Singapore, a role currently carried out by Asia-Pacific CEO Kent Chaplin…
BIBA hails turnover growth, new projects
03 October 2016
The British Insurance Brokers’ Association’s turnover grew 8.8% to £5.99 million last year…
Arch raises capital to fund acquisitions
03 October 2016
Arch Capital has conducted a public offering of 18 million depositary shares at $US25 each to fund two major acquisitions, one of which will make it the largest private mortgage insurer in the world…
Health worker and patient safety linked: Aon
03 October 2016
US healthcare liability claims have moderately declined, according to a study by Aon and the American Society for Healthcare Risk Management, with further data analysis showing a correlation between worker and patient safety…
Lloyd’s hails ‘robust’ first-half performance
26 September 2016
Despite a highly competitive environment, the Brexit fallout and increased catastrophe losses, Lloyd’s has reported a £1.46 billion profit for the first half, up £260 million on the corresponding period last year…
UK regulator keeps eye on Big Data amid pricing concerns
26 September 2016
The UK’s Financial Conduct Authority will “further engage” with the retail general insurance sector after questions about Big Data use uncovered potential areas in which consumers may be disadvantaged…
New Yorkers take first sip of Lemonade
26 September 2016
Lemonade has started selling home policies to New Yorkers – the first market to get a taste of the peer-to-peer insurer’s offering…
Most businesses hit by data breach: Lloyd’s
26 September 2016
The vast majority of large European businesses have suffered a data breach – but far fewer are concerned about it happening in future…
Claims spike, taxes drive up UK motor premiums
26 September 2016
UK motorists are paying 13.5% more in premiums than a year ago, recording an average of £788 a year, according to the Consumer Intelligence market research agency…
Marine premium sinking fast: IUMI
26 September 2016
Global marine underwriting premium dropped 10.5% to $US29.9 billion last year, the International Union of Marine Insurance conference in Genoa heard…
Florida hurricane loss ‘not severe’ for industry
26 September 2016
Insured losses from Category 1 Hurricane Hermine – the first hurricane to hit Florida since 2005 – will not exceed $US400 million, catastrophe modeller RMS says…
Demand for custom reinsurance grows: Swiss Re
19 September 2016
Insurers are becoming more sophisticated in their reinsurance purchasing and there is increasing demand for customised and strategic solutions, according to a new report from Swiss Re…
Rendezvous looks ahead to Brexit
19 September 2016
The UK’s pending exit from the EU is not a major issue for reinsurance, the 60th Reinsurance Rendezvous in Monte Carlo heard last week…
Guy Carpenter flags terrorism businesses interruption gap
19 September 2016
Insurers must review the way business interruption covers and other policies are structured as terrorists increasingly target maximum economic damage over loss of lives, reinsurance broker Guy Carpenter says…
ABI reports rise in insurance fraud detections
19 September 2016
UK insurers detected 130,000 fraudulent claims last year, according to Association of British Insurers statistics…
Risk managers ‘crucial to M&A success’
19 September 2016
Risk professionals play a vital role in a company’s merger and acquisition process, according to a new Risk and Insurance Management Society report…
AIR Worldwide builds on terrorism model
19 September 2016
AIR Worldwide has expanded its terrorism risk model to support scenario testing for the US and 27 other countries, including Australia…