Swiss Re sees further price rises across all lines
14 September 2020
Swiss Re has forecast prices will continue to rise in the next renewals season as adverse risk and interest rate trends are exacerbated by the coronavirus pandemic...
International
COVID demonstrates need to pool big risks: Munich Re
14 September 2020
Munich Re says state-backed pools should be created to cover future pandemics and says more focus is needed on other major risks such as cyber threats and climate change...
UK insurance fraud jumps
14 September 2020
A police officer and an employee at a claims management firm featured among 107,000 fraudulent insurance claims detected in the UK last year...
2020 global premium growth will be ‘flat at best’
14 September 2020
Global insurance premium growth will be flat “at best” as nearly every country in the world experiences economic recession or decline caused by the COVID-19 pandemic, the New York-based Insurance Information Institute says...
Storms dominate August cat losses
14 September 2020
Nine tropical cyclones made landfall in August, leaving a trail of damages in the region of at least $US20 billion ($27 billion), according to Aon’s latest monthly Global Catastrophe Recap report...
Global supply chain rejig ‘a bonanza for insurance’
14 September 2020
A restructuring of global supply chains will boost global insurance earnings by around $US63 billion over five years, Swiss Re estimates...
‘Growing list’ of BI court rulings back US insurers
07 September 2020
A growing number of US court decisions are coming down on the side of insurers in disputes over coronavirus-related business interruption cover, the Insurance Information Institute says...
Big houses ‘main driver of rising hurricane bills’
07 September 2020
US hurricane seasons are costlier than before because more Americans are living in coastal states and building bigger and more expensive homes, the Insurance Information Institute says...
Lloyd’s reopens London Underwriting Room
07 September 2020
Lloyd’s has reopened its London Underwriting Room, with daily capacity reduced to 45%, face masks mandatory in common areas and social distancing rules in place...
AM Best says hardening rates offset COVID for reinsurers
07 September 2020
Hardening pricing conditions are creating opportunities for insurers, while catastrophe, specialty lines and some US casualty lines have been showing improvements in pricing and coverage terms, AM Best says...
Coming decade a ‘game changer’ for cyber insurance: S&P
07 September 2020
The next decade will be the most important period of growth for the cyber insurance market as rapid digital transformation brought on by the COVID-19 pandemic increases vulnerabilities to attacks, S&P says...
COVID-19 sets stage for bigger insurance role in social welfare
07 September 2020
The post-COVID-19 environment is fertile ground for insurers to find new ways to team with the public sector and help mitigate social inequality, insurance think-tank The Geneva Association says...
Hurricane Laura smashes US Gulf Coast
31 August 2020
Hurricane Laura destroyed buildings and killed at least 15 people in the southern US, after becoming the strongest system to cross the Louisiana coastline in more than 150 years on Thursday...
Moody’s sees California fire losses ‘in the billions’
31 August 2020
California’s wildfires are likely to trigger insured losses in “in the billions of dollars”, Moody’s Investors Service estimates...
Aon, Willis Towers Watson merger clears shareholder hurdle
31 August 2020
Aon is a step closer to completing its takeover of rival Willis Towers Watson after shareholders in the broking giants voted for the deal last week at their respective extraordinary general meetings...
COVID will widen protection gap: Swiss Re
31 August 2020
The insurance protection gap globally rose to a record $US1.24 trillion last year and is set to worsen further because of the pandemic, Swiss Re says in a new Sigma report...
Liberty sees strong demand for M&A cover
31 August 2020
Demand for mergers & acquisition insurance has risen despite the COVID-19 pandemic affecting regional deal activity in the second quarter, Liberty Global Transaction Solutions says...
US insurers win BI court rulings as more battles loom
24 August 2020
US court rulings in three jurisdictions have backed insurers in denying COVID-19 business interruption claims due to a lack of physical damage, as more cases are set to come forward...
Californians told insurance may cover fire evacuation costs
24 August 2020
Thousands of residents across California who have been ordered to evacuate due to wildfires may be eligible for cost reimbursement from their insurance company, Insurance Commissioner Ricardo Lara says...
Insurance M&A outlook stark due to ‘plague of uncertainty’
24 August 2020
The number of insurance industry mergers and acquisitions in the Asia Pacific region jumped 22% in the first half of 2020, with six completed in Australia, though coming months will be “stark,” law firm Clyde & Co says...