Singapore insurers to come under scrutiny
23 July 2002
APRA’s new prudential requirements have formed the basis for corporate governance rules to be introduced in Singapore for the insurance industry later this year…
International
NY Bill will encourage fraud
16 July 2002
There’s trouble in New York’s uneasy motor vehicle insurance market, where insurers have refused to handle cover that is approved by a new state law…
Asbestos rewards: a lawsuit too far
16 July 2002
Only in America? We hope so…
Urgent calls for aviation pool
16 July 2002
As one European country cut its airlines off from government-back terrorism cover, aviation insurers are calling on the British Government not to follow suit…
GE halts sell-off
16 July 2002
General Electric Co has halted – or at least delayed – plans to split off its general insurance operations, the Wall Street Journal reported…
St Paul’s plans stalled again
16 July 2002
The St Paul has again postponed plans to spin off its reinsurance business into a new Bermuda firm called Platinum Underwriters Holdings…
Munich tops up American Re
16 July 2002
American Re, an arm of No 1 reinsurer Munich Re, is receiving a $2 billion funds transfusion to keep its reserves healthy…
UK life insurers move closer to securitisation
09 July 2002
Financial reinsurance is useful and logical, although recent revelations at the HIH Royal Commission have brought it into some disrepute…
WTC asbestos fears rise again
09 July 2002
Two preliminary studies have found that Ground-Zero recovery workers in New York may have little to fear concerning heavy metal and dangerous chemical compounds…
California drops toxic mould bill
09 July 2002
How dangerous is toxic mould, and why is it costing US insurers billions in claims..?
EU extends deadline
09 July 2002
The European Commission has extended the period EU member states can offer war risk insurance to airlines until October 31…
Insurers exposed to the WorldCom affair
09 July 2002
Ratings agency Fitch has warned that US insurers have an exposure of more than $8.9 billion of direct investment to collapsed communications giant WorldCom…
US homeowners are paying more
02 July 2002
An extraordinary number of catastrophes, the high cost of repairs and excessive jury awards due to the emergence of toxic mould claims have pushed the cost of US householders…
Silverstein faces tough Swiss Re stand
02 July 2002
Swiss Re believes a recent series of court rulings over its dispute with World Trade Centre leaseholder Larry Silverstein “clearly support” the insurers’ view that the terrorist attack…
Diplomatic feathers fly over Manulife “bankruptcy”
02 July 2002
Canada has again called for Indonesia to quickly resolve the controversial Manulife bankruptcy case before it affects Canadian business investments in the country…
China ensures the future of open market
02 July 2002
A draft amendment intended to bring China into line with the World Trade Organisation was presented to the National People’s Congress in Beijing last week…
Rise in estimated property claims from Sept 11
24 June 2002
New figures released by the Insurance Services Office in New York estimate that the Sept 11 attacks will cost property insurers more than $40 billion – 22% more…
Lord Levene next to lead Lloyd’s
17 June 2002
Lord Levene of Portsoken, a former Lord Mayor of London, will replace Sax Riley as Chairman of Lloyd’s at the end of the year…
No gambling on medical indemnity
17 June 2002
Australia isn’t the only place having a few problems with medical indemnity insurance, and the argument isn’t very different, either…
200 British insurers at risk
17 June 2002
US ratings agency Fitch has raised concerns about the financial health of 200 general insurers, which it claims have been placed in “higher risk” categories by the regulator…