UK calls for cross-border co-operation
28 April 2008
The UK Government is calling for closer co-operation among European Union regulators...
International
Law firms under suspicion in claims crackdown
28 April 2008
Ten UK law firms and dozens of claims management companies are reportedly under investigation for alleged insurance fraud...
Guy Carpenter develops Asian flood model
28 April 2008
Reinsurance broker Guy Carpenter has introduced new flood modelling technology in Thailand and may extend the software throughout the Asia-Pacific region...
European ERM take-up improves
28 April 2008
European insurers are increasingly turning to enterprise risk management as the Solvency II deadline approaches, Standard & Poor’s reveals in a report...
US insurers enjoy underwriting profit despite premium slide
21 April 2008
The US property/casualty insurance industry has recorded its second consecutive underwriting profit despite net written premium falling for the first time in more than six decades...
Reinsurers fly to Rio
21 April 2008
Global reinsurers are moving into Brazil following the deregulation of the country’s reinsurance market...
US bill proposes federal insurance overseer
21 April 2008
New US legislation proposes to create a federal Office of Insurance Information inside the Department of Treasury...
Munich Re forecasts €500 million dip in ’08 profit
21 April 2008
Munich Re has forecast a dip in net profit of least €500 million ($849 million) for the year due to an increase in claims in the first quarter...
Islamic insurance set to take off
21 April 2008
The Islamic “takaful” insurance market will be worth $US4.3 billion ($4.6 billion) within two years, an Ernst & Young report reveals...
US commercial rates still dropping
14 April 2008
US insurance premiums are continuing to fall, with the largest decreases since Hurricane Katrina recorded in the last quarter...
Investments, reserves prop up US financials
14 April 2008
The US property/casualty insurance industry has achieved its second-best combined ratio in the past four decades, despite a deteriorating underwriting performance...
S&P warns of recession risk for UK insurers
14 April 2008
Deteriorating economic prospects and a risk of recession in the UK are a concern for the country’s non-life insurers, according to a Standard & Poor’s report...
… as US commercial rates cause concern
14 April 2008
S&P also warns if US commercial rates continue to fall at the current rate, the outlook may turn to negative in the second half of this year...
Atlantic storms on the way
14 April 2008
An intense Atlantic hurricane season is forecast with eight storms expected to develop in the region this year, according to Colorado State University’s Tropical Meteorology Project...
Solvency II presents capital challenges for Euro insurers
14 April 2008
European insurers may need to adjust their capital reserves for the upcoming Solvency II regulation regime, according to a ratings agency chief...
Even the US Treasury wants one insurance regulator
07 April 2008
The US Treasury has called for federal regulation of the insurance industry, to overhaul the present cumbersome system where more than 50 state regulators – some of them elected…
AIG sues former CEO and directors
07 April 2008
American International Group is suing former CEO Maurice “Hank” Greenberg and six ex-directors and officers for breaching their fiduciary duty to the company...
Non-US reinsurers get raw end of deal
07 April 2008
After months of discussion, the US National Association of Insurance Commissioners has formally adopted a framework to reform US reinsurance regulation...
Willis and Marsh comply with New York settlement terms
07 April 2008
Brokers Marsh and Willis are complying with settlement terms reached with the New York State Insurance Department and Attorney-General, according to a review…
NZ sees inside running for China insurance market
07 April 2008
New Zealand Trade Minister Phil Goff is scheduled to sign a free trade agreement with China today, and insurance is expected to be among the services granted special access…