Marsh hails ‘milestone’ quarter as market turns for clients
04 November 2024
Marsh McLennan says third-quarter consolidated revenue rose 6% to $US5.7 billion ($8.64 billion) and operating income grew 11% to $US1.1 billion ($1.67 billion)...
International
Industry, government form charter to tackle ‘appalling’ fraud
28 October 2024
The UK's Joint Fraud Taskforce has collaborated with the insurance industry to crack down on fake claims and scammers...
Bullying, harassment, discrimination allegations jump in UK
28 October 2024
The UK’s Financial Conduct Authority says allegations of workplace bullying, sexual harassment and discrimination are on the rise...
Natural catastrophes hit Munich Re Q3 result
28 October 2024
Munich Re has reported a third-quarter result well below financial analyst expectations following losses from natural catastrophes including Hurricane Helene...
Aon commercial, reinsurance revenues rise in Q3
28 October 2024
Broker Aon’s key commercial risk and reinsurance businesses recorded stronger results in the third quarter...
Reinsurer ‘won’t be challenged’ on risk balance amid cat losses
28 October 2024
Natural catastrophe loss trends in Europe have reinforced the need to maintain the risk balance reset achieved at renewals in the past two years, a Munich Re senior executive has said...
Cost of dual hurricanes could pass $81 billion: Moody’s RMS
21 October 2024
Moody’s RMS estimates the combined insurance cost of hurricanes Helene and Milton will range between $US35 billion ($52.13 billion) and $US55 billion ($81.92 billion)...
Premium finance, motor cover costs face scrutiny
21 October 2024
The British government and the country’s Financial Conduct Authority have launched a review to address car insurance affordability concerns...
Flood-threatened US community pilots parametric project
21 October 2024
A California town that lies on a floodplain is participating in a parametric insurance pilot project funded through a two-year $US200,000 ($299,000) grant...
Howden report backs climate-friendly insurance model
21 October 2024
The insurance industry is well positioned to advance and deliver investment into “nature-based” solutions, according to a report from Howden and climate change advisory group Pollination...
Allianz climbs global brand rankings
21 October 2024
Allianz has been dubbed a “fastest riser” after cracking the top 30 in a list of the 100 most valuable brands in the world, while Axa has retained its top-50 spot...
Milton losses could hit $74 billion: Fitch
14 October 2024
Hurricane Milton insured losses are estimated at $US30-$US50 billion ($44-$74 billion), with the ultimate cost depending on repair supply constraints as the US southeast also recovers from Helene’s impact two weeks earlier, Fitch Ratings says...
US rates poised for further rises after Helene, Milton
14 October 2024
US commercial and personal lines rates increased in the third quarter and are expected to rise further over the next few months to price in the impact of hurricanes Helene and Milton, MarketScout says...
‘Non-attack’ cyber claims surge
14 October 2024
Class actions and related claims over “non-attack” cyber incidents such as wrongful use of personal data have increased after regulatory and legal changes, Allianz says...
Major conflict costs could reach $50 trillion, Lloyd’s says
14 October 2024
Lloyd’s says the global economy could be exposed to losses as high as $US50 trillion ($74.30 trillion) over the next five years should a “hypothetical geopolitical conflict” occur...
New hurricane threatens Florida as states reel from Helene damage
07 October 2024
Hurricane Milton is expected to hit Florida this week as the US southeast continues to deal with widespread damage caused when Helene crossed the coastline less than two weeks ago...
US think tank proposes home disaster cover alternative
07 October 2024
Housing resilience agencies should be created to take over US home disaster insurance and risk reduction oversight as more people are left unprotected when natural catastrophes hit, the Climate & Community Institute says...
Flood threat has ‘far-reaching consequences’ for world: Moody’s
07 October 2024
About 2.4 billion people, or one-third of the world’s population, live in areas exposed to inland flood risk, according to a Moody’s white paper...
Marsh McLennan buys US broker for $11 billion
07 October 2024
Marsh McLennan will pay $US7.75 billion ($11.2 billion) to acquire US broking business McGriff Insurance Services...
Hurricane Helene hits Florida, brings widespread flooding
30 September 2024
Loss estimates from Hurricane Helene, which crossed the Florida coastline last week, are expected to climb as the event brings widespread catastrophic flooding...