NY regulator warns of cyber ‘armageddon’
29 September 2014
New York’s Department of Financial Services says insurers have a key role to play in helping to prevent an “armageddon-type” cyber event…
International
Europe rules the waves, marine insurers told
29 September 2014
Europe has a 52.6% share of the marine insurance market, with Asia-Pacific on 25.5% and Latin America 10.1%, according to data from the International Union of Marine Insurance…
Lloyd’s profit lifts, GWP dips
29 September 2014
Lloyd’s says gross written premium fell 4.1% to £14.8 billion ($27.4 billion) in the six months to June 30…
Insurers worry as clock ticks down on US terrorism act
29 September 2014
The US insurance industry is growing nervous as expiry of the federal Terrorism Risk Insurance Program Reauthorisation Act draws closer…
US insurers on the way back up
29 September 2014
US insurers are recovering from the global financial crisis with record profits and capital surpluses, according to the Federal Insurance Office…
Cyber-insurance market grows
29 September 2014
Cyber attacks are on the rise and interest in insuring against them is growing, according to a new Guy Carpenter Emerging Risks report…
UK motor comparison market ‘needs more competition’
29 September 2014
The UK Competition and Markets Authority has called for tighter regulation of motor insurance comparators…
Giant lawsuit hangs on flood definition
29 September 2014
A lawsuit against insurers by US rail passenger company Amtrak hinges on the definition of “flood” and whether damage inflicted by Superstorm Sandy was one or several occurrences…
UK banks launch cyber crime portal
29 September 2014
The British Bankers Association has unveiled a new weapon against cyber attacks, fraud, money laundering and bribery in the banking and financial sector…
Data will transform personal coverage: Aon Benfield
22 September 2014
Big Data could lead to the creation of a single lifestyle policy covering all an individual’s liabilities, according to Aon Benfield…
CEO backs Swiss Re model to bring growth
22 September 2014
Swiss Re Group CEO Michel Liès says he is unfazed by the price-sensitive reinsurance market and insists there are still opportunities to grow…
Lloyd’s to open branch office in Beijing
22 September 2014
The Chinese Government has granted Lloyd’s a licence to establish a branch office in Beijing, 14 years after the market set up a representative office there…
Insurers applaud US capital standards bill
22 September 2014
The US insurance industry has welcomed legislation stating insurance companies should not be forced to comply with bank-centric capital standards…
New capital drives change: Guy Carpenter
22 September 2014
The flood of new capital into reinsurance is continuing to reshape the market, according to a report from Guy Carpenter…
Rates may bottom in tough market
22 September 2014
Hannover Re expects intense competition for January treaty renewals, with sustained pressure on prices and conditions – but it says catastrophe reinsurance rates…
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…
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…