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…
International
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…
Driverless tech to slash car premiums: Aon Benfield
19 September 2016
US motor insurance premiums may fall more than 40% by 2050 on conservative estimates, according to Aon Benfield’s annual Global Insurance Market Opportunities report…
Drone insurance market to soar, Allianz says
19 September 2016
The global drone insurance market could be worth more than $US1 billion by 2020 and $US500 million in the US alone, according to Allianz Global Corporate & Specialty…
Commercial rates a mixed bag, US study shows
19 September 2016
US commercial insurance prices increased by less than 1% in the second quarter, according to Willis Towers Watson…
Munich Re is rising to challenges, rendezvous hears
12 September 2016
Munich Re says the reinsurance market continues to be dominated by strong competition and “relentless pressure to change”, but it believes it is meeting these challenges…
August catastrophes further highlight insurance gaps
12 September 2016
Floods in Louisiana cost the US economy more than $US10 billion but more than 80% of affected homeowners were not covered, according to Impact Forecasting’s catastrophe report for last month…
ILS indices beat S&P 500 returns: Aon
12 September 2016
Insurance-linked securities outperformed investment returns from the US S&P 500 Index in the year to June 30, according to an Aon Securities report…
US fracking quake risk too big to ignore: Swiss Re
12 September 2016
Seismic activity linked to fracking operations’ wastewater disposal has reached unprecedented levels in the US state of Oklahoma and the probability of widespread damage is now too high to ignore, Swiss Re warns in a new report…
Trov US rollout gains Munich Re backing
12 September 2016
Munich Re will provide underwriting capital and insurance licensing to San Francisco-based technology developer Trov when its insurance app goes live in the US next year…
Lloyd’s warns of offshore move post-Brexit
12 September 2016
Lloyd’s will move some business out of London if the UK fails to maintain passporting rights to the EU during Brexit negotiations, Chairman John Nelson says…