Above average Atlantic hurricane season tipped
10 July 2023
An updated Colorado State University forecast predicts 18 named storms, nine hurricanes and four major hurricanes during the Atlantic hurricane season...
International
Warmer sea temperatures pose typhoon risks
03 July 2023
Sea surface temperatures off the north-eastern coast of Japan are tipped to be up to +1.5C above average in the Asia Pacific Western North Pacific Basin, with implications for typhoon activity, according to Moody’s Risk Management Solutions 2023 outlook...
Canada turns up temperature on battling climate change
03 July 2023
Canada’s peak insurance body has welcomed a strategy to shield the country from looming climate change events which cost the country more than $C2billion a year...
Japan insurers’ earnings set to recover from catastrophes, covid claims
03 July 2023
Japan’s major general insurers are projected to report improved earnings after profitability took a hit from a few mid-sized natural catastrophes and covid-related claims, Fitch Ratings says...
UK underwriting agencies welcome 200th member
03 July 2023
The UK Managing General Agents’ Association says it has marked a milestone with Signature Underwriting becoming its 200th member...
Aon announces global reinsurance appointments
03 July 2023
Broker Aon has made key internal appointments in its Global Reinsurance Clients team...
Aon, Lloyd’s pledge reinsurance backing for Ukrainian insurers
26 June 2023
Aon and Lloyd’s have announced a joint insurance collaboration with Vienna Insurance Group to help support Ukraine’s economic security...
Lockton welcomes insurance veteran to its ranks
26 June 2023
Lockton, the world's largest, privately owned insurance brokerage, has named Mark Drummond-Brady as adviser to the senior international leadership team...
Aon rebuilds catastrophe models with academic data
26 June 2023
Aon is incorporating research from Columbia University and other academic institutions into its tropical cyclone, wildfire and windstorm models to better assess future financial losses...
UK pet insurers paid out record claims last year
26 June 2023
The Association of British Insurers says UK pet insurers paid a record £1 billion in claims last year...
Swiss Re Sonar report flags uncertain and compound risk landscape
19 June 2023
The latest edition of Swiss Re’s annual Sonar report says the insurance industry faces a “multi-faceted” emerging risk landscape with political tensions and new technologies all marked as growing threats...
Aon appoints parametric chief to accelerate uptake
19 June 2023
Cole Mayer has been appointed to lead Aon’s worldwide parametric initiatives and accelerate use of index-based solutions...
Guy Carpenter adds to cyber team
19 June 2023
Global reinsurer Guy Carpenter has announced a series of appointments and promotions to its cyber divisions in New York and London which it says will enhance and enrich its digital capabilities...
Wildfire risk ‘clearly insurable’: Swiss Re
19 June 2023
Swiss Re has invested in data and technology after an escalation in wildfire losses and says the peril is “clearly insurable,” but now makes up less of its underwriting portfolio...
Fire and explosion dominate marine claims
05 June 2023
Allianz Global Corporate & Specialty says fire/explosion is the most expensive cause of marine insurance claims, accounting for 18% of losses between January 1 2017 and December 31 2021...
Establishing digital trust is vital, Swiss Re says
05 June 2023
Swiss Re says it is vital that insurers build “digital trust” as access to consumer data is the key component behind risk analytics and automation capabilities...
Canada wildfire emergency spreads to eastern provinces
05 June 2023
Canada’s wildfire emergency worsened last week with homes destroyed and almost 20,000 residents evacuated in the country’s eastern province of Nova Scotia amid an active and early start to the wildfire season...
Another insurer exits California
05 June 2023
US insurer Allstate will no longer write new homeowner, condominium and commercial insurance policies in California, according to the San Francisco Chronicle and other local media outlets...
UK insurers make progress on mental health standards: ABI survey
05 June 2023
UK insurers have made progress in supporting consumers with prior or existing mental health conditions after new standards launched in 2020 setting out ways for improvements in relation to accessibility, asking appropriate questions, communications and transparency...
State Farm withdraws from California building cover
29 May 2023
State Farm General Insurance Company, one of the largest insurers in the US, has stopped accepting insurance applications from California’s homeowners due to growing risk from wildfire and other catastrophes and the rising cost of rebuilding...