UN-backed forum starts work on disaster risk management
20 June 2016
The United Nations-backed Insurance Development Forum has opened discussions on ways insurers can apply their expertise to improve global disaster risk management…
International
US commercial lines maintain slight price growth
20 June 2016
US commercial insurance prices increased by less than 1% in the first quarter of this year, according to a survey by Willis Towers Watson…
Terrorists ‘prefer guns to bombs’
20 June 2016
The Orlando nightclub shootings that left 49 people dead confirm terrorists’ increasing preference for guns over bombs, according to catastrophe modeller RMS…
More insurers join UK flood scheme
20 June 2016
Another 20 insurers have joined the UK’s government-backed Flood Re scheme, bringing the total to 36 since its launch on April 4…
Lloyd’s syndicates face rough ride: S&P
14 June 2016
London-based Lloyd’s syndicates face a triple whammy of strong competition, excess capacity and softening rates despite solid results last year, Standard and Poor’s says in a report…
World security worsens as terror takes toll
14 June 2016
The world became a more dangerous place last year amid a surge in terror-related acts and political instability, according to the annual Global Peace Index…
Emerging Asia offers growth opportunity, IIS told
14 June 2016
Asia’s emerging economies are ripe for the picking, with many new underwriting growth avenues, the International Insurance Society’s Global Insurance Forum was told yesterday…
May cat claims to exceed $9 billion
14 June 2016
Disasters last month are expected to cost insurers at least $US7 billion, according to Impact Forecasting’s latest Global Catastrophe Recap…
London insurers attack Brexit claims
14 June 2016
UK insurers have scotched claims by pro-Brexit campaigners that leaving the European Union will have no industry repercussions…
UK regulator ‘will target broker fee transparency’
14 June 2016
Raising broker commission transparency is an area the UK regulator will eventually focus on, according to the Association of British Insurers…
European storms dent profits, reveal insurance gap
14 June 2016
Recent German floods are likely to cost insurers about €1 billion ($1.53 billion), hitting underwriting profits but leaving credit profiles intact, according to Fitch Ratings…
US personal lines rates climb as insurers ‘pummelled’
14 June 2016
Rates in US personal lines were up 1% last month and steeper rises are in store, according to analyst MarketScout…
Risk managers urged to work with risk takers
14 June 2016
As organisations face unprecedented levels of change and complexity, risk takers and risk managers must unite to address the upsides and downsides, according to the Risk and Insurance Management Society…
UK broker rolls out ‘first’ driverless policy
14 June 2016
A UK broker says it has introduced the country’s first insurance policy that covers driverless cars…
Decline in reinsurance rates ‘slowing’
06 June 2016
The June renewals show strong signs that reinsurance rates are stabilising, according to JLT Re…
Wildfire is Canada’s costliest natural disaster
06 June 2016
The Fort McMurray wildfire in Canada’s Alberta province is the costliest natural catastrophe yet recorded in the country, with estimated insured losses of $C4.4-$C9 billion…
Munich Re unveils turnaround plan for ailing Ergo
06 June 2016
Munich Re wants to return its loss-making Ergo primary insurance unit to profitability under a €1 billion ($1.54 billion) restructuring plan that will see about 1800 jobs in Germany axed…
AIG’s game plan gets a cautious welcome
06 June 2016
Insurance ratings agency AM Best has affirmed the issuer credit rating of AIG after earlier this year placing its ratings “under review with negative implications”…
Big hurricanes to boost pricing
06 June 2016
The US insurance industry is counting on an above-average hurricane season this year to boost property insurance premiums, but the rises won’t return to the levels seen in previous market cycles, according to Fitch Ratings…
Xchanging delists from London exchange
06 June 2016
UK insurance outsourcing group Xchanging will be delisted today from the London Stock Exchange in accordance with the takeover terms set out by Computer Sciences Corporation…