FCA warns insurers on virus-led policy changes
23 March 2020
UK insurers seeking to suspend or change policies to limit their coronavirus exposure have been warned by the country’s regulator against acting unfairly toward consumers...
International
Tech-failure cover underwhelms
23 March 2020
Insurance options for many technological risks are perceived as inadequate by most risk professionals, a survey by Marsh found...
African cyclones 'highlight need for better preparation'
23 March 2020
Southern Africa has made progress in resilience-building in recent years, and global insurer Zurich says more attention needs to be paid to pre-event planning to further strengthen the region against natural hazard events...
Renewables a boon for insurers
23 March 2020
Rapid growth and changing risks in renewables energy signal a growing need for insurance in the sector, research from Lloyd’s reveals...
HDI lifts annual GWP by 30%
23 March 2020
HDI Global Specialty lifted its gross written premium by more than 30% to €1.43 billion last year, and parent Talanx expects growth to around €2.1 billion by 2022...
Aon set to become world's largest broker
16 March 2020
Aon will become the world’s largest insurance broker after agreeing to acquire Willis Towers Watson for $US29.9 billion in shares...
ILS investors surprised by record catastrophe losses
16 March 2020
Record losses in the Insurance-Linked Securities market have severely tested the market, AM Best says...
Swiss Re flies into Microsoft's cloud
16 March 2020
Swiss Re has teamed with Microsoft to launch its new Digital Market Centre, which it says will transform the way insurers measure business risks in a digital environment and enable a new class of technology solutions...
Profitability spike in reach for agile insurers: EY
16 March 2020
The prospect of inevitable tech-driven disruption may sound grim but EY says an “unprecedented growth and profitability spike” is within reach for large insurers...
Academics, insurers unite to uncover catastrophe scenarios
16 March 2020
The Cambridge Centre for Risk Studies in the UK has collaborated with the insurance industry to provide guidance for “catastrophic shock” scenarios...
Lloyd's tests backup trading plan as coronavirus pandemic worsens
16 March 2020
Lloyd’s closed its underwriting room for 24 hours on Friday to “stress test” the market’s backup trading plan as part of stepped-up preparations for the worsening coronavirus pandemic...
Crawford creates 24/7 virus information centre
16 March 2020
Global claims management group Crawford & Company has created a special round-the-clock claims support desk for insurers and brokers to ensure consistent handling of advice and any claims related to COVID-19...
Olympics issue won’t affect Japanese insurers
16 March 2020
The coronavirus outbreak in Japan is likely to have only a “limited impact” on local insurers’ financial positions, according to Fitch Ratings...
Insurance premium tax 'regressive and unfair'
09 March 2020
The UK government is being urged to lower its “staggering” Insurance Premium Tax, which has doubled since 2015 to 12%, in this month’s budget…
Political risk insurance capacity at a high: Marsh
09 March 2020
Insurer appetite for political risk is strong and available insurance capacity has never been better, broker Marsh says in its annual Political Risk Map report…
Merger activities total $8 billion in Q4
09 March 2020
About $US5.18 billion in non-life merger and acquisition deals were made in the fourth quarter last year, according to research and consulting group GlobalData…
Lloyd’s makes contingency plans for coronavirus outbreak
09 March 2020
Lloyd’s has assured market participants it has “business continuity” plans in place to ensure trading globally is not disrupted if the coronavirus outbreak worsens…
UK storm losses set to rise to $730 million
09 March 2020
Insurers in the UK will probably pay about £363 million in claims for damages caused by Storms Ciara and Dennis, the Association of British Insurers has estimated…
#MeToo movement adds to D&O insurers’ challenges
02 March 2020
The #MeToo movement and other social media-driven campaigns to expose alleged sexual misconduct are adding to the already significant risk exposures facing directors’ and officers’ insurers, according to AM Best...
Lloyd’s closer to testing complex risk platform
02 March 2020
Lloyd’s says the new complex risk platform being developed as part of its Blueprint One overhaul will be tested this year before full scale-up in 2021...