Losses will lift aviation rates
13 July 2009
June is shaping up as the most expensive month for aviation insurance since the US terrorist attacks in September 2001, with rates set to rise significantly as a result…
International
New York amends commission rules
13 July 2009
The New York State Insurance Department has made concessions to draft commission disclosure rules that put the onus on buyers to raise the issue with brokers…
New chief for British brokers
13 July 2009
Well-known UK broker Patrick Smith will succeed Derek Thornton as Chairman of the British Insurance Brokers’ Association in September…
PartnerRe snaps up Paris Re in $2.6 billion deal
13 July 2009
Bermuda-based PartnerRe has agreed to buy French-listed Paris Re in an all-stock reinsurance acquisition valued at $US2 billion ($2.6 billion)…
US insurers report $US1.3 billion first-quarter loss
06 July 2009
US property and casualty insurers reported a $US1.3 billion ($1.6 billion) loss during the first quarter as underwriting losses and falling investment returns took their toll on the market...
Catastrophes could stall Bermuda market’s recovery
06 July 2009
Most Bermuda-based reinsurers could recoup last year’s punishing investment losses in the next one to two years providing catastrophe losses stay in check, according to a Deloitte survey...
Towers Perrin and Watson Wyatt merge
06 July 2009
Global financial services consultants Towers Perrin and Watson Wyatt have announced they will combine to form a new, publicly listed company to be known as Towers Watson...
Reinsurance rate hike slower than expected
06 July 2009
Reinsurers have reported generally stable pricing and capacity during the latest renewal period after initial fears of a dramatic rise in rates...
G8 fails on climate change
06 July 2009
The Group of Eight most industrialised countries has failed to protect the world against climate change, according to a report by global insurer Allianz and the World Wildlife Fund...
Geneva Association outlines insurers’ role on climate change
06 July 2009
Insurance sector innovation can play a major role in mitigating climate change, according to Swiss-based researcher the Geneva Association...
Risk agency reduces financial strength rating on 13 countries
06 July 2009
Credit insurer and ratings agency Coface has imposed negative ratings actions on 13 countries amid an ongoing increase in international trade risk...
European airlines flout insurance rules
06 July 2009
Four European airlines are charging passengers for travel insurance despite a European ban on the practice, a UK consumer watchdog has warned...
Financial crisis tops risk list
29 June 2009
The financial market crisis tops the list of the 10 biggest risks for the insurance industry in a new report by Ernst & Young...
Changes galore as AIG brand fades
29 June 2009
AIG continues to evolve into something less indebted to the US Government...
Allianz study reveals growing piracy threat
29 June 2009
Global insurer Allianz has encouraged marine clients to improve the protection of ships and crew as the threat of piracy off the Horn of Africa continues to grow...
Insurers off the hook in AIG case
29 June 2009
A US court has dismissed a lawsuit that alleged several insurance companies helped AIG defraud investors...
AIG struggling to prove case against Greenberg
29 June 2009
The judge presiding over AIG’s $US4.3 billion ($5.3 billion) lawsuit involving former CEO Maurice “Hank” Greenberg has suggested the company’s case will fail unless lawyers...
Buyers set to re-emerge as US insurers cash up
29 June 2009
Strategic buyers and foreign government wealth funds may revive merger and acquisition activity in the US insurance market late this year, according to a new report by Deloitte...
British insurance body tackles non-insurance
29 June 2009
The Association of British Insurers has stepped up the fight against non-insurance by joining with brokers and insurers to develop and promote low-cost contents insurance schemes...
US Government proposes national insurance office
22 June 2009
Plans to establish a federal system of insurance regulation in the US continue to divide the insurance industry despite widespread approval from other quarters...