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…
International
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…
It’s in the mail: where the big trade credit risks are
06 June 2016
French trade credit insurer Coface’s annual survey of corporate payments activity in Asia-Pacific economies has identified the construction, industrial machinery and electronics, automotive and transportation, and metals industries as the riskiest sectors…
EU exit will bring more pain than gain, UK insurers say
30 May 2016
The UK insurance industry will lose more than it will gain if Britain votes in a referendum next month to leave the European Union, according to a report based on interviews with senior executives…
Atlantic hurricane season ‘could be big’
30 May 2016
There is an 80% chance this year will be the most active Atlantic hurricane season in four years, according to forecaster Tropical Storm Risk (TSR).
Future risks require action now
30 May 2016
Swiss Re’s annual Sonar report has identified turmoil in emerging markets and increased localisation of internet networks within country borders as key risks facing the insurance industry…
$3 billion payout from UK floods may push premiums higher
30 May 2016
More than 15,000 insurance claims for flooded homes and businesses have been made in the aftermath of Britain’s December storms…
Munich Re issues cat bond to cover US, Europe weather risks
30 May 2016
Munich Re has issued its biggest catastrophe bond of $US190 million to provide cover for its reinsurance business from potential US hurricane and European windstorm risks…
Container crackdown making waves: XL Catlin
30 May 2016
New rules preventing containers lacking verified weight information from being loaded onto ships have left the industry floundering, according to XL Catlin…
British insurers back cyber database
30 May 2016
The Association of British Insurers has called for a national database of cyber incidents and attacks on businesses…
TT Club hit by declining premiums, higher claims
30 May 2016
TT Club has reported a $US10 million decline in gross written premiums to $US172 million for the 12 months to December last year…