Third-party capital ‘benefits mutual insurers’
30 September 2013
The influx of third-party capital to the reinsurance market will bring major benefits for mutual insurers, according to Willis Re…
International
New York lays down law on force-placed cover
30 September 2013
Regulators in New York have proposed new force-placed insurance rules, after an investigation found homeowners were charged excessive premiums for involuntary cover…
Alberta flood costs top $1.7 billion
30 September 2013
Insured losses from the Alberta floods have exceeded $C1.7 billion ($1.76 billion), making them Canada’s costliest natural disaster…
Colorado floods cause $2 billion of damage
30 September 2013
Floods in Colorado have caused more than $US2 billion ($2.13 billion) of economic damage, according to catastrophe risk modeller Eqecat…
UK brokers attack flood insurance plans
30 September 2013
Future broking leaders have delivered a damning verdict on part of the UK’s proposed levy-funded flood reinsurance pool for high-risk households…
US reform to remove state barriers
30 September 2013
The US insurance industry has welcomed government moves to create the National Association of Registered Agents and Brokers, to streamline insurance across state borders…
Auto price rises to boost Japan profits: Moody’s
30 September 2013
Auto cover premium gains and consolidation benefits could raise Japanese property and casualty insurer profits, according to a report by Moody’s Investors Service…
Aon shuffles leadership pack
30 September 2013
Aon has announced a raft of management appointments to “guide clients through changing times”…
Catlin launches online portal for coral reef studies
30 September 2013
Catlin has made its research on the world’s coral reefs freely available through the online Global Reef Record…
JLT and Towers Watson merge reinsurance operations
23 September 2013
JLT has acquired the reinsurance brokerage business of Towers Watson for $US250 million ($266 million), creating “a new force” in the international market…
New capital to help meet rising demand: Nelson
23 September 2013
Lloyd’s Chairman John Nelson says the injection of third-party capital to the insurance market is more of an opportunity than a threat…
Marine insurance ‘must adapt to survive’
23 September 2013
The marine insurance industry must innovate and adapt to prosper, International Union of Marine Insurance President Ole Wikborg says…
Canadian insurers baulk at flooding
23 September 2013
Canadian insurers are concerned at the country’s lack of flood insurance but are split over the viability of getting involved…
TRIA expiry already affecting US prices: Aon
23 September 2013
The US Terrorism Risk Insurance Act has been an “unqualified success” and should be extended, global broker Aon says…
Tokyo faces world’s greatest disaster exposure
23 September 2013
The Tokyo-Yokohama conurbation in Japan is the world’s riskiest metropolitan area, according to a report by Swiss Re…
British insurers pay $317 million each day
23 September 2013
The UK insurance industry paid £187 million ($317 million) a day to customers last year, according to the Association of British Insurers…
BIBA reaffirms code commitment
23 September 2013
The British Insurance Brokers’ Association says it will give further consideration to developing a code of conduct…
Costa Concordia pulled upright
23 September 2013
The wreckage of the Costa Concordia has been hauled upright, completing a delicate stage in the biggest-ever marine salvage operation…
Capital influx to ‘profoundly change’ reinsurance market
16 September 2013
Increasing third-party capital in the reinsurance market will have “profound” consequences, Willis Re says…
Chen to chair Zurich’s Chinese business
16 September 2013
Zurich has appointed Johnny Chen as its Life and General Insurance Chairman in China, as it seeks further expansion in the fast-growing market…