British regulator looks to quantify value of add-ons
29 June 2015
The UK’s Financial Conduct Authority has published a discussion paper on product value transparency in the general insurance add-ons market…
International
Fed defends AIG bailout
22 June 2015
The US Federal Reserve says its actions to rescue AIG at the height of the financial crisis in 2008 were “legal, proper and effective”…
ILS market secures first-quarter record
22 June 2015
A record 15 insurance-linked securities worth $US2.1 billion were issued in the first quarter, according to the Bermuda Monetary Authority…
Global food shock looms as challenge to insurers: Lloyd’s
22 June 2015
A new report paints a bleak picture of an “overstretched global food system” collapsing under the pressure of climate change-induced weather catastrophes, plant pandemics and surging food prices, with the potential to trigger economic and humanitarian crises…
Ex-QBE exec on fraud charge
22 June 2015
A former QBE US executive faces embezzlement charges after the Federal Bureau of Investigation uncovered what it alleges is a fake invoicing racket…
TRIA ‘may follow Australian example’
22 June 2015
The US terrorism pool may follow Australia’s lead and begin purchasing private reinsurance, according to a new report from the Congressional Budget Office…
Directors warned of D&O gaps for cyber attacks
22 June 2015
Company directors may face costly lawsuits if they are negligent in preventing or managing cyber attacks, according to Marsh…
Poor cargo handling swells marine losses: Allianz
22 June 2015
Significant damage to ships and cargoes is rising due to a lack of skills and resources for handling heavy lifts, Allianz Global Corporate & Specialty says…
UK companies ‘falling short on risk culture’
22 June 2015
About 70% of UK businesses have failed to embed positive risk cultures, despite rising risk exposures, according to a QBE European Operations survey…
Auto drives US commercial premiums
22 June 2015
US commercial premiums grew 2% in the first quarter of this year, according to consultants Towers Watson…
Insurers chase profits in political risk
22 June 2015
Insurers are pumping more resources into political risk coverage, which offers better returns than traditional property and casualty lines, according to a Marsh report…
KPMG urges greater industry innovation
15 June 2015
Insurers are missing opportunities to play a more prominent role in tackling global challenges such as climate change, disaster resilience and infrastructure investment because they lack innovation, according to a report from KPMG…
Global cyber cover worth almost $200 billion
15 June 2015
Cyber-risk coverage worldwide is about $US150 billion, with a take-up rate across all industries of about 16%, according to a new report by Standard & Poor’s that cites estimates from Marsh…
Global warming hiatus ‘a myth’
15 June 2015
The rate of global warming has not slowed down, according to research by the US-based National Oceanic and Atmospheric Administration…
Tokio Marine buys US insurer HCC
15 June 2015
Tokio Marine will buy US-based HCC Insurance Holdings for $US7.5 billion as part of a continuing acquisition drive…
Flood Re chief sets April start date
15 June 2015
The UK Government’s flood reinsurance pool, Flood Re, will go live in April next year after “extensive testing”…
G7 vows to widen insurance coverage
15 June 2015
Leaders from seven leading economies have cited insurance as part of a pledge to build resilience in countries vulnerable to climate change risk…
British insurers fear EU exit
09 June 2015
UK insurers have warned of the consequences if Britain leaves the European Union, with a referendum on the issue expected next year…
Reinsurance prices moderate
09 June 2015
Reinsurance prices moderated at the June 1 renewals, partly due to price reductions from previous seasons and significant amounts of new limits, according to Guy Carpenter…
AIG seeks smooth progress
09 June 2015
Achieving “sustainable growth” is a priority for AIG, according to CEO Peter Hancock…