Lloyd's powers up data, technology overhaul
07 October 2019
Lloyd's has committed to the development of electronic platforms to handle complex and simple risks following consultation on a three-year strategy to set the market up for the future...
International
'Ambiguous' cyber wordings raise insurers' exposure
07 October 2019
Insurers could be responsible for cyber-related claims because of “ambiguous” policy wording in standard commercial products such as business interruption covers, according to GlobalData...
MS Amlin abandons insurance lines in search for profitability
07 October 2019
Global reinsurer MS Amlin will exit its business lines and aviation insurance as it seeks to redirect its underwriting resources towards more profitable areas...
Sectors silent on cyber strategies in face of high risks
07 October 2019
The different sectors at high risk of a cyber security breach vary greatly in their cyber disclosures, a Moody’s report says...
Lloyd's acts as survey exposes scale of sexual harassment
30 September 2019
Lloyd’s has announced a series of measures aimed at improving workplace behaviour after a culture survey it commissioned in May came back with shocking responses...
Marsh pilots trade credit blockchain project
30 September 2019
Marsh has teamed up with clients and insurers AIG and Euler Hermes to pilot placement of US trade credit policies on a blockchain-based platform...
Insurers aren't keeping up with innovation: Deloitte
30 September 2019
Insurers need to devote more resources to disruptive innovation if they want to keep up with insurtech development, Deloitte says...
Premium return higher for mutuals
30 September 2019
The amount of premium returned to policyholders in US mutual insurance companies was five times larger than the return to non-mutuals, the National Association of Mutual Insurance Companies says...
Typhoon Faxai costs could reach $13 billion, RMS estimates
30 September 2019
Insured losses from Typhoon Faxai, which hit Japan in early September, are estimated at $US5-9 billion ($7-13 billion), risk modelling firm RMS says...
BHSI sets up in Spain
30 September 2019
Berkshire Hathaway Specialty Insurance has launched operations in Spain, opening a new office in Madrid...
Investments boost Lloyd’s first-half profits
23 September 2019
Lloyd’s first-half profit before tax has jumped to £2.3 billion ($4.2 billion) on higher investment returns, as the market moves ahead with a project to improve its long-term profitability...
Private equity offers $480 million for Charles Taylor
23 September 2019
London-based loss adjuster and insurance services firm Charles Taylor has accepted a £261 million ($480.6 million) takeover offer from private equity firm Lovell Minnick...
Hurricane hits take toll on company stock prices
23 September 2019
US-based companies reporting financial damage from hurricanes Harvey, Irma or Maria had collectively lost $US18 billion ($26.3 billion) in market value by August the following year, a study shows...
Leaders lack time to assess cyber threat: Marsh
23 September 2019
Most board members and senior leaders in companies have spent less than one day in the past year focusing on cyber risks, according to a survey by broker Marsh and tech giant Microsoft...
Partnership brings new volcanic ash cloud forecasting
23 September 2019
The Willis Research Network is partnering with computing firm Mitiga Solutions to provide cutting-edge volcanic ash cloud and sandstorm forecasting to the aviation industry...
Dorian could cost insurers $12.5 billion
23 September 2019
Payouts from Hurricane Dorian could cost insurers between $US4 billion and $US8.5 billion ($5.9 billion and $12.5 billion), according to catastrophe modeller RMS...
Global premium growth steady despite economic headwinds
16 September 2019
Insurers have remained profitable despite nearly every large economy experiencing slowing momentum, while emerging markets are benefitting from insurtech investments, the Insurance Information Institute says...
Japanese typhoon will cost insurers up to $10 billion
16 September 2019
Insured losses from Typhoon Faxai will be anywhere between $US3 billion and $US7 billion ($4 billion and $10 billion), risk modelling firm AIR Worldwide says...
Guy Carpenter warns of ‘catastrophic’ bushfire risk
16 September 2019
Guy Carpenter says insurers and reinsurers must reassess the growing bushfire threat to avoid a “catastrophic claims event”...
Terrorism backstop ‘vital for US market’
16 September 2019
Affordable insurance coverage for major US events such as the Super Bowl, the Summer Olympics and large construction projects may be threatened unless government policy brought in after the September 11 2001 terrorist attacks 18 years ago is reinstated...