Lloyd’s donates to 197 charities worldwide
19 October 2020
Lloyd’s says it has donated £12 million to 197 charities worldwide since March...
International
Lloyd’s CEO sees ‘biggest ever, unusual and uneven’ recession
12 October 2020
This year’s COVID pandemic has triggered “mind-boggling” economic policy and “we’re about to go into the biggest recession we will have ever seen”, Lloyd’s CEO John Neal says...
Hurricane Delta landfall sets US record
12 October 2020
Hurricane Delta has set a record for the number of tropical storms to cross the US coast during an annual season after sweeping ashore in Louisiana last week...
Virus spikes ‘outweigh reduction in claims’ from lockdowns
12 October 2020
Claims reductions due to COVID19 lockdowns have been “outweighed” by virus-caused spikes in other areas, a report from Allianz Global Corporate & Specialty says...
Insurers urged to work with cities to handle risks
12 October 2020
The insurance industry and cities around the world need to develop stronger, more effective working partnerships to better protect against political, cyber and economic risks and natural catastrophes, a new Lloyd’s report says...
US fires expected to continue run of multi-billion claims
12 October 2020
2020 will mark a record run of six straight years of multi-billion-dollar payouts for global insurers due to wildfires, Aon says...
Reinsurers ‘not ready for IFRS 17’
12 October 2020
S&P Global Ratings has warned most reinsurers will find it challenging to transit to International Financial Reporting Standards 17, the new accounting rule that is set to come into force on January 1 2023...
Pandemic puts climate change back of mind
05 October 2020
Infectious disease and pandemics have replaced climate change in a new survey of the most pressing global risks...
UK court allows ‘leapfrog’ for BI test case appeals
05 October 2020
The UK High Court has allowed a fast-track process for appeal applications that may be lodged following the business interruption test case that it decided last month...
Gallagher hit by ransomware attack
05 October 2020
US-based broker Gallagher was forced to take its entire global systems offline as a precautionary measure after a ransomware attack last month...
Townsend named as Peiris replacement at Allianz
05 October 2020
Chris Townsend will join Allianz in January, taking on the Board of Management role in charge of Global Insurance Lines, the insurer announced last week...
Catastrophe bond market rebounds
05 October 2020
The catastrophe bond market returned to strong growth last financial year despite some impact from the COVID-19 outbreak, Aon Securities says in an annual review of insurance-linked securities...
Lloyd’s Parametrix BI targets SMEs
05 October 2020
Lloyd’s has launched a new business interruption policy which it says is the first off-the-shelf parametric IT downtime policy tailored towards SMEs...
FCA outlines ‘radical’ moves on premium pricing
28 September 2020
The UK Financial Conduct Authority expects new laws to ban pricing practices that disadvantage loyal customers will take effect next year as part of a proposed package of reforms...
Pandemic offers enterprise risk management warning
28 September 2020
The coronavirus pandemic has highlighted the need for insurers to review enterprise risk management frameworks and guard against complacency, AM Best has warned...
COVID tipped to boost UK comparison sites
28 September 2020
Price comparison websites will become even more popular in insurance as consumers look for savings wherever possible as economies enter recession amid the COVID-19 pandemic, GlobalData says...
Half of global GDP depends on biodiversity: Swiss Re
28 September 2020
Just over half of global GDP, equal to $US41.7 trillion, is dependent on high-functioning biodiversity and ecosystem services such as pollination and climate regulation, the Swiss Re Institute’s new Biodiversity and Ecosystem Services Index reveals...
Zurich sponsors reforestation project in Brazil
28 September 2020
Zurich will sponsor an eight-year reforestation project in Brazil to convert barren farmland back into native forest...
Swiss Re unveils structural streamlining plan
28 September 2020
Swiss Re has announced further changes to the legal entity structure of the group, with Swiss Reinsurance Company to be made the sole direct wholly owned operating subsidiary of the business...
UK regulator calls for insurers to respond to test case ruling
21 September 2020
The Financial Conduct Authority has urged UK insurers to consider steps they can take to progress business interruption claims following a High Court test case judgment that it says backed policyholders “on the majority of key issues”...