Deja vu for UK insurers as rain continues
16 July 2012
Continuing floods in the UK mean insurers may face the biggest payouts since 2007 and homeowners may be at risk of insufficient cover…
International
Light losses keep a lid on reinsurance prices
16 July 2012
Benign catastrophe activity resulting in plentiful capacity has capped upwards pressure on reinsurance prices, according to Guy Carpenter, the reinsurance broking arm of Marsh…
US weather leads June losses
16 July 2012
The US has endured a “highly active” month, with multiple natural disasters occurring from coast to coast, according to Aon Benfield’s Global Catastrophe Recap report for June…
Coface upgrades risk on southern Europe
16 July 2012
Worsening economies in southern Europe have prompted trader credit insurer Coface to upgrade the country risk for the region…
EIOPA Solvency II final report released
16 July 2012
The European Insurance and Occupational Pensions Authority has published its final report on insurers’ reporting and disclosure requirements under Solvency II, which it says will improve policyholder…
ILS activity at near record levels
16 July 2012
The insurance-linked securities market has had its most active first half since 2007, a Swiss Re report says…
Bermuda reinsurers’ capital withstands catastrophes
16 July 2012
Capital held by Bermuda’s reinsurers and insurers fell only 2% last year despite the string of natural catastrophes, supporting arguments that the cost of reinsurance is not rising because the market…
Ban on cold-calling claims spruikers gains support
16 July 2012
Most UK drivers would support a ban on claims management companies cold-calling people to represent them in motor vehicle claims, according to a new Association of British Insurers survey…
Willis Re: Reinsurance rates aren’t hardening
09 July 2012
Current reinsurance rate increases do not mean a hardening market, reinsurance broker Willis Re says…
UK industry bodies up in arms over disclosure
09 July 2012
UK industry bodies are concerned about recent changes to insurance broker regulation across Europe, specifically those relating to new guidelines on compulsory commission disclosure…
UK insurers’ confidence falls
09 July 2012
UK general insurers are reporting flat profitability and falling buyer sentiment, according to a survey by PricewaterhouseCoopers and the Confederation of British Industry…
US insurers expect low growth
09 July 2012
Continued slow growth in the insurance sector is turning the focus of US insurance executives inward as they grapple with operational issues, according to the latest Insurance Industry Outlook survey…
US flood insurance scheme extended
09 July 2012
The US Government has extended its National Flood Insurance Program for five years and will allow it to buy reinsurance cover from the private market…
Solvency II date set
09 July 2012
The European Parliament has affirmed January 2014 for implementation of the Solvency II regime for insurers and reinsurers in the European Union…
European insurers holding steady
09 July 2012
The market positions of Europe’s 10 largest general insurers remained relatively static last year, a new ranking from Spanish researcher the Mapfre Foundation shows…
US commercial rates up 4%
09 July 2012
The composite rate for US property and casualty insurance “held steady” at 4% for June, according to insurance exchange MarketScout…
Moody’s upgrades outlook for Japan insurance sector
09 July 2012
Ratings agency Moody’s has upgraded its outlook for Japan’s property and casualty sector and the life insurance industry to stable from negative…
Derecho hits eastern US
09 July 2012
The storm known as a derecho that hit 13 mid-Atlantic and midwestern US states has caused fatalities, extensive property damage and widespread power outages…
Being number one ‘no guarantee’
02 July 2012
Insurers should brace for “fast, relentless and potentially devastating” changes in the industry soon, says PricewaterhouseCoopers Global Insurance Leader David Law…
Axis board ousts founder Charman
02 July 2012
Bermudian insurer and reinsurer Axis Capital has replaced founder John Charman as chairman after a board dispute over the “role and responsibilities of the chairman position”…