UK brokers work on voluntary code of conduct
22 September 2014
The British Insurance Brokers’ Association has taken another step towards developing a voluntary code of conduct for its members…
International
UK insurers say capital rules push up premiums
15 September 2014
British insurers have accused the Bank of England of imposing unnecessary capital requirements that are driving up the cost of insurance…
ILS record tumbles amid capital revolution
15 September 2014
The growth of alternative capital in the catastrophe reinsurance market shows no sign of abating, according to Aon Benfield Securities…
Islamic State ‘highlights need for TRIA’
15 September 2014
The rise of Islamic State shows the continued need for a federal terrorism insurance backstop in the US, Insurance Information Institute (III) President Robert Hartwig warns…
Innovation key to growth: Munich Re
15 September 2014
Munich Re says innovation is vital as the reinsurance landscape continues to shift…
Trade barriers threaten recovery: Lloyd’s chief
15 September 2014
Lloyd’s Chairman John Nelson has urged governments not to erect trade barriers around their economies, warning increased protectionism is threatening the global recovery…
Europeans fear investment drop-off under Solvency II
15 September 2014
Insurance companies’ position as the region’s largest long-term stable investors may be at risk, according to Insurance Europe…
Takaful market continues expansion
15 September 2014
The global takaful market is expected to grow by 14% this year and could top $US20 billion ($21.77 billion) in gross contributions by 2017, according to Ernst & Young…
Shipwrecks and fires top business loss chart
15 September 2014
Ship groundings, fires and plane crashes are the three leading causes of business loss, according to Allianz Global Corporate & Specialty…
Private sector warms to terrorism coverage
08 September 2014
Private market appetite to cover US terrorism risks has returned, but this does not mean the Federal Government’s backstop is now surplus to requirements…
Climate change could catch out reinsurers: S&P
08 September 2014
Reinsurers may be underestimating catastrophe loss exposures by about 50% if the extreme events of the past decade are the “new normal”, according to Standard & Poor’s…
Low penetration limits Napa quake losses
08 September 2014
Economic losses from the San Francisco Bay area earthquake last month are likely to top $US2 billion ($2.1 billion), Impact Forecasting says…
Small reinsurers have most to lose in softening market: Fitch
08 September 2014
Intense competition, sluggish cedent demand and an “onslaught” of alternative capital have left the global reinsurance sector with a negative outlook, according to Fitch…
US P&C heads for rate decline
08 September 2014
The US property and casualty sector is braced for a soft market next year, according to analyst MarketScout…
Napa earthquake damage ‘within expectations’
08 September 2014
Insured losses from the north California earthquake are not expected to exceed $US250 million ($268 million), according to catastrophe risk management company RMS…
Still a role for terrorism pools, says Guy Carpenter
01 September 2014
Government terrorism pools set up following the September 11 2001 attacks on the US remain “integral risk management tools”, according to global reinsurance broker Guy Carpenter…
Napa Valley counts cost of quake
01 September 2014
A magnitude-6.0 earthquake in California’s Napa Valley last month caused extensive damage, with estimates ranging from “at least $US100 million ($106.91 million)” to…
Data gets bigger and better: McKinsey & Co
01 September 2014
The release of third-party public sector data from governments around the world will make Big Data an even greater source of competitive advantage for insurers, a report…
S&P urges public-private unity on disaster resilience
01 September 2014
Ratings agency Standard & Poor’s has called for greater collaboration between reinsurers and governments on disaster resilience…
First-half catastrophe losses drop
01 September 2014
Global natural and man-made catastrophe insurance losses totalled $US21 billion ($22.5 billion) in the first half, down from $US25 billion ($26.8 billion) in the corresponding period last year…