New China typhoon model also measures flood risk
04 July 2011
Risk Management Solutions says a new typhoon model for China and Hong Kong provides significant advances in quantifying flood risk…
International
Global industry concerns revealed
27 June 2011
Participants at the International Insurance Society’s annual seminar in Toronto last week see competitive pricing and adequate profitability as the top global issue facing both the life and general…
UK executives say reputation is the greatest weakness
27 June 2011
British insurance executives believe the industry’s greatest strength is its ability to help customers when they need it, but say its greatest weakness is a poor reputation…
UK gets first look at new approach to insurance regulation
27 June 2011
The UK insurance industry has been given an insight into its future regulation with the release of a paper on how new regulatory body, the Prudential Regulation Authority, will approach…
Modeller sees $US15.5 billion in insured US weather losses
27 June 2011
Aon Benfield has estimated this year’s record-breaking tornado season and severe weather in the US have caused $US15.5 billion ($14.8 billion) of insured losses, three times the average rate…
US flood program ‘needs private insurers’
27 June 2011
US officials believe the insurance industry needs to re-enter the Federal Government’s troubled National Flood Insurance Program to ensure its continuance…
UK releases bill to reform compensation culture
27 June 2011
The UK Government has released its new Justice Bill, which contains measures to scale back “no win, no fee” legal arrangements which have contributed to rising motor insurance costs…
US underwriting losses continue
27 June 2011
Underwriting losses for the US property and casualty industry continued to mount in the first quarter of 2011, new statistics show…
Aviva sells RAC to ‘focus on insurance’
27 June 2011
Aviva has announced the sale of RAC, the second largest roadside assistance provider in the UK, to global asset manager the Carlyle Group for £1 billion ($1.5 billion) in a bid to strengthen its…
Banks key to India insurance penetration
27 June 2011
India’s Insurance Regulatory Development Authority is proposing to make greater use of the country’s 80,000 banks as part of sweeping changes to increase insurance penetration across the country…
BIBA petitions UK Government over compensation scheme review
20 June 2011
The British Insurance Brokers’ Association has petitioned the UK Government with the signatures of nearly 7000 of its members to accelerate its review of the UK’s Financial Services Compensation…
Emerging economies provide great opportunities, says Plumeri
20 June 2011
A new “golden age” for insurance beckons as growing middle classes in developing nations seek to protect their wealth, according to Willis Group Chairman and CEO Joe Plumeri…
Aviva relaunches UK car fleet telematics
20 June 2011
Aviva has relaunched its fleet telematics products in the UK, allowing companies to use their existing in-car technology and avoid having to invest in additional equipment…
US commercial market ‘could be on the verge of turning’
20 June 2011
A new survey into commercial lines insurance pricing in the US indicates the market is showing some signs of an upswing…
CII calls for UK to focus on culture as well as compliance
20 June 2011
The Chartered Insurance Institute wants the UK Government to focus on culture as well as compliance when regulating its financial services sector…
Tornado unearths deadly fungus
20 June 2011
Deadly fungal infections pose a hidden risk to US insurers as the city of Joplin, Missouri continues to count the cost of a tornado that ripped through the region last month…
Nigerians want to copy us – in a regulatory way
20 June 2011
Nigeria wants to emulate Australia in a move to improve regulation of its insurance industry…
Aon updates terrorism map to reflect new risks
14 June 2011
Political violence, strikes, riots, civil war and war are as big a threat to business growth, continuity and profitability as terrorism, according to Aon Risk Solutions…
FSA guides aggregator compliance
14 June 2011
British brokers and insurers have welcomed a move by the Financial Services Authority to warn comparator site operators to maintain proper regulatory requirements…
Multi-billion losses mark worst tornado week
14 June 2011
Catastrophe modeller AIR Worldwide estimates the severe thunderstorms that struck the United States between May 20-27 will cause insured losses of between $US4-7 billion ($3.8-6.6 billion)…