Global protection gap continues to widen: AIR
16 September 2019
Insured average annual losses rose $US6.1 billion ($8.86 billion) over 2019 to nearly $US92 billion ($133.67 billion), according to AIR’s global cat losses report...
International
Insurers tougher on local mining premiums
16 September 2019
The Australian mining market has seen further increases in premium rating throughout the first half of 2019 as conditions carry on from the previous year, Willis Towers Watson says in its latest Mining Risk Review...
Pressure on underperformers to drive more consolidation: Lloyd’s
09 September 2019
In-market consolidation of syndicates in the Lloyd’s market is expected to continue as it maintains pressure and constraints on loss-making business, according to a new Aon report...
S&P warns reinsurers against complacency
09 September 2019
S&P Global Ratings says a firming market has given reinsurers “breathing room” but the commoditisation of their business and the rise of alternative capital “nibbling” at their margins presents challenges...
Reinsurance capital up thanks to strong investments
09 September 2019
Global reinsurance capital rose 8% in the last six months to July, Willis Re says...
Dorian losses could exceed $4 billion
09 September 2019
Insured losses from the damage Hurricane Dorian left in the Bahamas and Caribbean could run up to $US3 billion, AIR Worldwide estimates...
Severe US weather insurance payouts reach billions
09 September 2019
Insurance payouts for severe thunderstorms across the US are reaching billions of dollars, according to Impact Forecasting’s monthly global disaster recap...
Protection gap rises to $US1.2 trillion: Swiss Re
09 September 2019
The global economy has less capacity to absorb a shock than it did at the start of the financial crisis more than a decade ago, while the insurance protection gap has also widened to a record $US1.2 trillion, Swiss Re says...
ILS in the spotlight after large catastrophe losses
09 September 2019
Global catastrophe bond issuance contracted in the year to June 30 as costly storms in the US, Mexico earthquakes, Japan’s typhoon and California wildfires triggered concern over the pricing environment, a new report from Aon finds...
Big email providers are likeliest source for maxi-cyber loss
09 September 2019
New modelling has found the most likely scenario for cyber catastrophe loss is widespread data theft from a major email service provider, followed by large-scale ransomware at a leading cloud service provider...
Back office improvements at Munich Re to help claims settlement
09 September 2019
Munich Re has introduced two new services to improve claims settlement for insurance companies...
‘Too few prepared’ to manage future risks
09 September 2019
Only about a third of executives are confident their risk management teams are prepared to take on future challenges, according to a survey of more than a thousand industry participants...
Swiss Re, Capsicum Re introduce Decrypt cyber reinsurance
09 September 2019
Swiss Re and specialist reinsurance broker Capsicum Re have created a new cyber reinsurance solution called Decrypt which they say is the first to help insurers identify and manage their cyber risk exposures as well as meet growing regulatory and internal requirements...
Guy Carpenter names new chairman
09 September 2019
David Priebe, the Vice Chairman of diversified reinsurance broker Guy Carpenter, has been appointed Chairman with immediate effect...
Hurricane Dorian slams into Bahamas, threatens US coast
02 September 2019
Hurricane Dorian has hit the Bahamas as one of the strongest Atlantic storms on record and will threaten Florida and other eastern US states as it tracks up the coastline this week...
Turn it up: UK insurance frauds nab preacher, pensioner and pub landlord
02 September 2019
A preacher, a rock guitarist pensioner and an award-winning hotelier were among the British insurance cheats exposed last year...
Major European study finds worldwide flood bill to rise
02 September 2019
Climate change is causing more frequent and intense flooding in northern Europe and the worldwide annual bill from flood damage, estimated at $US100 billion, is likely to increase, according to a study looking at 50 years of data from thousands of locations...
AM Best expects more “rational” reinsurance market
02 September 2019
The reinsurance market will likely be more “rational” over the near term, with third-party capital investors continuing to be an influential presence, says AM Best...
Insurer concern over silent-cyber lessens
02 September 2019
The insurance industry is considerably less concerned about “silent cyber” exposure than it was last year, with claims expectations down across insurance lines and industry groups, a new survey has revealed...
Research reveals data analytics potential
26 August 2019
Insurers will benefit extensively from data analytics if they expand its application to understanding new risk profiles, new research finds...