UK brokers pay a high price for regulation
28 March 2011
The British Insurance Brokers’ Association says future regulations need to focus on the sector’s limited risk exposure while reducing costs to intermediaries…
International
ABI questions Solvency II test
28 March 2011
The impact of Solvency II on insurers is drawing a mixed response from the insurance industry and ratings agencies…
Japanese earthquake and tsunami: life insurers cover losses
28 March 2011
Japanese life insurers could be facing between ¥300 to ¥400 billion ($3.6 billion to $4.8 billon) of claims stemming from the March 11 earthquake and tsunami, according to ratings agency…
Reinsurance: Flagstone on ratings watch as cats bite
28 March 2011
Flagstone Reinsurance has been put on ratings watch by Moody’s after the release of its estimated losses from the Australian floods and February 22 Christchurch earthquake…
UK to implement uninsured driving enforcement scheme
28 March 2011
The UK has introduced a new motor insurance law to tackle uninsured driving in response to the nation’s motor insurance crisis…
Euler Hermes joins forces with China Pacific
28 March 2011
Trade credit insurer Euler Hermes and China Pacific Insurance Company have joined forces to offer cover on trade receivables for Chinese businesses…
Japan’s earthquake and tsunami: a snapshot
21 March 2011
The earthquake and tsunami hit a 2100 km of coast stretching from the island of Hokkaido in the north to Wakayama Prefecture south of Osaka…
Japan’s earthquake and tsunami: big reinsurers exposed
21 March 2011
Estimates for the insurance claims stemming from the Japanese earthquake and tsunami have varied wildly, with figures of up to $US100 billion ($101 billion) being quoted…
Japan’s earthquake and tsunami: global BI claims expected
21 March 2011
Marsh is warning of extended disruption to global business supply chains following Japan’s earthquake and tsunami…
Japan’s earthquake and tsunami: low exposure for nuclear plant insurers
21 March 2011
Claims from the damage to Japan’s Fukushima Dai-ichi and Fukushima Dai-ni nuclear power plants are expected to be small…
Reform a must for NFIP
21 March 2011
US insurance leaders have welcomed the introduction of revised legislation on the National Flood Insurance Program, saying reform is vital for its survival…
Brokers back ‘spy’ technology to help solve motor crisis
21 March 2011
The British Insurance Brokers’ Association has backed the use of black box technology to help reduce the cost of motor cover in the UK…
US gets its first insurance supremo
21 March 2011
Micheal McRaith, the Illinois Director for the Department of Insurance, has been appointed as the inaugural Director of the US Treasury’s newly created Federal Insurance Office…
Aviva set to sell RAC: reports
21 March 2011
No 1 UK insurer Aviva is preparing to sell its underperforming RAC business when the market improves, according to reports…
Penny pinching on insurance puts UK firms at risk
21 March 2011
UK businesses are sacrificing quality for low cost in buying insurance, according to a study of insurance-buyers, insurers and brokers…
Japan earthquake: record claims looming
14 March 2011
The massive earthquake and tsunami that hit the northern coast of Japan on Friday could prove to be the most costly natural disaster in history…
ABI names new chief
14 March 2011
UK insurance executive Otto Thoresen has been appointed the new Director-General of the Association of British Insurers…
No end to US soft market
14 March 2011
US property and casualty rates remain “stuck” at -5%, perpetuating the continuation of the soft market…
AIG repays $7 billion
14 March 2011
AIG has reduced its debt to the US Treasury by $US6.9 billion ($6.8 billion) following settlement of its life insurance assets…
Hannover Re profits despite leap in claims
14 March 2011
Hannover Re has increased its gross written premium by 11.2% to €11.4 billion ($15.73 billion) in 2010 and expects premium growth of up to 3% this year…