Australia’s terrorism threat lowered
09 June 2009
Global broker Aon’s latest terrorism threat map shows a more settled outlook for Australia...
International
Climate change lawsuits ‘may outpace asbestos’
09 June 2009
Swiss Re says class action lawsuits related to climate change could develop more rapidly than those for asbestos, and it is monitoring developments closely for their insurance implications...
Marine insurance rates continue to soar
09 June 2009
Marine insurers are juggling falling revenues, lower premium volumes and decreased investment incomes, so not surprisingly rate increases will continue...
Lloyd’s insurer picks up Fortis corporate unit
09 June 2009
Lloyd’s market insurer Amlin has agreed to buy Fortis Corporate Insurance from the Dutch Government for €350 million ($616 million), attracted by its large commercial portfolio...
Air France disaster could result in $US1 billion liability
09 June 2009
The loss of Air France flight AF447 in the mid-Atlantic last week could result in insured losses of more than $US1 billion ($1.25 billion), according to international industry observers...
Same industry, same number of letters: Aon replaces AIG
09 June 2009
Aon is taking over sponsorship of English soccer team Manchester United after AIG earlier announced it will not renew its contract with the club...
Texas bulks up insurance fund
09 June 2009
Lawmakers in Texas have approved plans to replenish a state insurance scheme after Hurricanes Ike and Dolly depleted the fund last year...
Competition keeps lid on UK rates
01 June 2009
Competition and new players in some lines are continuing to keep UK commercial insurance rates down, Marsh says in a report on the first quarter...
Munich Re cautions Italy on climate change risks
01 June 2009
Munich Re has warned Italians that while statistical data doesn’t indicate a trend towards a rise in weather catastrophes, increasing drought, floods and heat will leave an impression...
Scottish asbestos law review begins
01 June 2009
A bid by British insurers to overturn a new Scottish asbestos compensation law gathered pace last week when a judicial review convened in Edinburgh...
UK brokers still face disclosure threat
01 June 2009
The UK Institute of Insurance Brokers has urged its members to adopt new industry transparency guidelines, warning that mandatory disclosure could be forced on British brokers...
Moody’s upbeat on life insurance
01 June 2009
Ratings agency Moody’s has offered a note of hope to global life insurers and life reinsurers, saying the industry is strong and solvent...
AIG boss to resign
25 May 2009
AIG Chairman and CEO Edward Liddy has announced his resignation less than a year after his appointment by the US Government...
Horror year for Japanese insurers
25 May 2009
Japan’s top four general insurers have reported a painful 12 months to March 31, each ravaged by investment writedowns and difficult market conditions...
European insurers face compulsory stress test
25 May 2009
Europe’s 30 biggest insurers will be stress tested next year to determine their ability to withstand the global financial crisis, according to a leading insurance supervisor...
Lloyd’s moves into Portugal
25 May 2009
Lloyd’s has been granted a licence to write business in Portugal...
UK premiums stay low despite tighter margins
18 May 2009
UK firms are set to benefit from low insurance premiums during second-quarter renewals as insurers chase volume at all costs...
American insurers strong ahead of hurricanes
18 May 2009
US general insurers are in a strong capital position ahead of the hurricane season beginning next month, according to the Insurance Information Institute...
Weak insurance demand hurts ING
18 May 2009
Dutch banking and insurance company ING has recorded a first-quarter loss of €793 million ($1.4 billion) as insurance activities plunged the firm into the red...
Insurance jobs plummet in US
18 May 2009
US insurance jobs fell by 4000 in April as unemployment in the industry soars...