Prepare for pandemic, climate challenges: Aon panel
11 October 2021
COVID-19 has brought home the message that “preparedness” is key, according to industry executives who spoke at a panel discussion hosted by broker Aon...
International
Europe July flood losses reach $15 billion
11 October 2021
Western European floods in July have generated losses of $US11 billion, ranking the event as the largest this year for regions outside the US, natural catastrophe data monitor Cresta says...
Agility needed for mobility demands: Marsh
11 October 2021
Insurers will need to keep pace and evolve to provide new forms of cover that will be required to meet the growing needs of the sharing economy and mobility sector, global broker Marsh says...
Allianz ratings reflect balance sheet strength: AM Best
11 October 2021
AM Best has affirmed its credit ratings of Allianz SE and subsidiaries, saying the assessments reflect the German insurance giant’s balance sheet strength...
FM Global unveils member credit program
11 October 2021
US mutual insurer FM Global says eligible policyholders will collectively receive about $US600 million in membership credit when they renew their cover next year...
Cyber market facing capacity constraints: S&P
04 October 2021
S&P Global Ratings has warned limited cyber underwriting capacity looms as the biggest hurdle to the growth of the market, which is seeing increased demand in response to worsening digital threats...
UK’s ABI urges tax reform
04 October 2021
The Association of British Insurers has detailed a five-point plan in a new budget submission setting out how the insurance industry can work constructively with the UK government...
Climate replaces pandemic as top global risk
04 October 2021
Climate change has returned to the top ranking in an annual Axa survey of global risks, after it was last year knocked into second place by the pandemic...
COVID exposes dynamics of long-tail risks
04 October 2021
The COVID pandemic has given business leaders insights to better understand and prepare for the dynamics of long-tail risks, Aon says...
AM Best lifts Zurich rating outlook to positive
04 October 2021
AM Best has lifted Zurich’s long-term Issuer Credit Rating outlook to positive, from stable, and affirmed the insurer’s A+ Financial Strength Rating with a stable outlook...
Reinsurers under-estimating climate risk by as much as 50%: S&P
27 September 2021
S&P Global Ratings says reinsurers globally have probably underestimated their exposure to physical climate risk by 33-50% despite increased efforts to price in the impact of extreme weather events...
Reinsurers remaining 'disciplined' as capacity increases
27 September 2021
Reinsurers are taking a disciplined approach to the market as they continue to focus on underwriting profitability, Everest Re Group CEO Juan Andrade has told at an AM Best industry briefing...
Catastrophe bond issuance on track for record: Fitch
27 September 2021
Natural catastrophe bond issuance is expected to reach record levels this year as the alternative reinsurance capital sector remains strong and viable, Fitch Ratings says...
Predictive analysis key for cargo supply chains
27 September 2021
Cargo risk underwriters will need to draw on predictive analysis as supply chains are transformed following impacts from the COVID-19 pandemic, an International Union of Marine Insurance event has heard...
Zurich teams up with UNICEF to promote mental well-being
27 September 2021
Zurich has announced a three-year global partnership with United Nations children’s agency UNICEF to promote mental well-being among young people...
Consultant puts value of MGAs revenue at $17.2 billion
20 September 2021
Managing general agencies and cover-holder groups such as delegated underwriting authorities globally earned revenues valued at $US12.5 billion last year, according to consultancy Insuramore...
UK home premiums slide after pandemic impact
20 September 2021
Home insurance premiums in the UK have fallen 5.6% in the past 12 months and 6.4% since a June peak last year as a result of the COVID-19 pandemic, Consumer Intelligence says...
Lloyd's sets ethnic minority hiring targets
20 September 2021
Lloyd’s says its marketplace has made good progress on gender parity, particularly at the Board and Executive level, and it has now committed that one third of all new hires at the Lloyd’s Corporation should come from ethnic minority backgrounds...
UK business interruption settlements reach $1.3 billion
20 September 2021
The UK Financial Conduct Authority says business interruption claim final settlement payments have risen to £696.2 million as funds continue to flow following a test case decision early this year on pandemic-related cover...
Correction: Lloyds combined operating ratio
20 September 2021
Lloyd’s has amended the timeframe for a combined operating ratio included in its half-year results media release.