12 July 2021
The Financial Conduct Authority has fined the insurance division of Lloyds Bank nearly £90.7 million for “misleading” its home insurance customers about their premium renewal...
12 July 2021
The global cyber insurance market will triple in size to $US20.6 billion in annual gross written premium by 2025, GlobalData says...
12 July 2021
The costliest severe storm on record in Europe and historic heatwaves in North America top Aon’s June list of severe weather events, leaving the insurance industry facing hefty claim payouts...
12 July 2021
Reinsurance broker Guy Carpenter, a part of the Marsh McLennan business, has launched a suite of climate advisory and modelling services for customers looking to develop strategies to address physical, transition and liability risks posed by global warming...
05 July 2021
French global insurer Axa says 2021 is “a key year for biodiversity” and wants insurers to act in the same way as they have over climate change...
05 July 2021
Hurricane Elsa continues to create problems for Caribbean countries after causing extensive damage at the weekend, becoming the first hurricane for this year’s Atlantic season...
05 July 2021
UK-based Ardonagh has entered the reinsurance broking space with the launch of Inver Reinsurance Brokers, which it says will harness its scale and resources to be a top five global player...
05 July 2021
UK and Bermuda insurer Hiscox has agreed a settlement with members of the Hiscox Action Group for business interruption losses suffered during a COVID-linked lockdown imposed by the UK Government last year...
05 July 2021
Willis Towers Watson estimates theoretical insurance capacity limits for the international power market have contracted further to around $US3.25 billion globally, with the “realistic level” closer to $US1.4 billion...
28 June 2021
A new Marsh & McLennan report has urged governments globally to tackle the growing threat of flood risk, which is set to become more severe and frequent in coming years, in part as a result of accelerating climate change...
28 June 2021
Combined revenue at the world’s top 20 insurers fell 5% to $US1.92 billion in 2020 as 11 experienced declines and nine achieved “subdued-to-moderate revenue growth,” GlobalData says...
28 June 2021
The Risk and Insurance Management Society has joined a coalition including movie companies and hospitality groups that is campaigning for a US Government-backed business interruption insurance program...
28 June 2021
The Prince of Wales says the insurance industry is “exceptionally well placed to appreciate the impact of a changing climate” and has a “unique and deep understanding of the evolving impacts and risks”...
28 June 2021
London-headquartered specialist underwriting agency CFC says its CFC Syndicate 1988 has incepted and started trading in the Lloyd’s market...
21 June 2021
UK business interruption settlements for COVID-19 related claims have reached £467.3 million, the Financial Conduct Authority says in its latest monthly update...
21 June 2021
Axa France has offered a €300 million settlement over business interruption cover to 15,000 restaurant owners affected by COVID-related trading restrictions “in the context of continuing judicial uncertainty”...
21 June 2021
A rise in ransomware claims has led to a doubling in US cyber premiums in five years while the margin for this cover “largely eroded,” Aon says...
21 June 2021
Weather forecasts indicate another above-normal North Atlantic hurricane season this year after a bumper 2020, risk modelling firm RMS says...
21 June 2021
The COVID-19 pandemic accelerated global merger and acquisition activity among broking groups last year but the sector remains relatively fragmented, UK-based consultancy Insuramore says...
21 June 2021
The highest May temperature ever recorded was clocked last month in Naryan-Mar, Russia, which is located in the Arctic Circle, as a number of climate records were broken, Aon’s latest Global Catastrophe Recap says...