26 April 2021
Government action on future insurance schemes to protect against pandemics has slowed as countries around the world continue to deal with ongoing COVID-19 impacts, The Geneva Group MD Jad Ariss says...
26 April 2021
The Financial Conduct Authority has published a calculator to assist policyholders that need to prove the presence of COVID-19 within a specified distance from their premises in order to make a business interruption claim...
26 April 2021
Reinsurers’ net profit slumped 70% last year to $US5.4 billion while property and casualty combined operating ratios blew out due to losses related to COVID-19, an Aon report shows...
26 April 2021
The Chartered Insurance Institute, a UK group supporting professional standards, has created a President’s Forum to explore customer needs not currently being met by the industry...
26 April 2021
Lloyd’s has appointed Kroll Bond Rating Agency to provide an extra independent opinion on its financial strength, adding to assessments from Standard & Poor’s, AM Best and Fitch Ratings...
19 April 2021
Aon’s proposed US$30 billion merger with Willis Towers Watson is still awaiting regulatory clearances as the European Commission considers commitments lodged this month to address competition concerns, while authorities in other countries are also completing reviews...
19 April 2021
UK insurers have paid out £352.1 million in business interruption claim final settlements following the test case judgment earlier this year, the Financial Conduct Authority says...
19 April 2021
Lloyd’s has outlined plans for a “once-in-a-generation” revamp of its underwriting room, building on technology changes and insights driven by the COVID-19 pandemic...
19 April 2021
Aon has collaborated with a group of leading insurers and technology experts to underwrite COVID-19 cargo insurance risk with the help of sensors to track sensitive vaccine shipments as they make their journey from “factory to syringe”...
19 April 2021
The value of cat insurance claims rose 10% to an all-time high of £148 million in the UK last year as a record 1.06 million cat owners secured pet insurance...
12 April 2021
Marsh has warned of a risk of mass bankruptcies among “zombie companies” that have been kept afloat by government-back schemes during the COVID-19 pandemic...
12 April 2021
Lloyd’s now expects to pay customers £6.2 billion for pandemic-triggered claims...
12 April 2021
Continuing rate increases, improved policy wording clarity and cost reductions are underpinning a stable outlook assigned by AM Best to the London market...
12 April 2021
Pricing remained firm in almost all classes and territories during the April reinsurance renewals after early-year trends set the direction, Willis Re says...
12 April 2021
Multiple severe weather outbreaks in the US, including tornadoes, hail, and flooding, resulted in billion-dollar insurance losses in March, Aon’s latest Global Catastrophe Recap report says...
12 April 2021
A new report by The Geneva Association has created checklists for insurers it says will help with the complex task of cyber “attribution”, or identifying the responsible actor...
12 April 2021
The International Union of Marine Insurance says environmental, sustainability and governance issues are impacting all forms of business and are a focus for the industry...
29 March 2021
The grounding of the Japanese-owner super vessel, Ever Given, in the Suez Canal could end up as a costly claims event for the insurance industry...
29 March 2021
The Financial Conduct Authority has released the first of planned monthly updates on business interruption claim outcomes as payments flow following this year’s conclusion of the UK test case, while a legal firm has warned remaining points of law may still trigger further litigation...
29 March 2021
A new AM Best report on underwriting agencies says the sector has played an important role in the “evolution” of the specialty insurance market in the last ten years...