UK regulator cracks down on travel insurance exclusions
22 July 2019
The UK’s Financial Conduct Authority has proposed new rules to help consumers with pre-existing medical conditions access travel insurance...
International
Security spending grows as cyber losses mount
22 July 2019
Financial services companies worldwide expect to increase cyber-security investment by as much as 40% next year, Willis Towers Watson says...
Munich Re flags positive Q2, affirms full-year guidance
22 July 2019
Munich Re expects its second-quarter net profit to rise to €1 billion from €728 million a year earlier, boosted by low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years...
‘Reimagined’ Lloyd’s platform takes shape
15 July 2019
Lloyd’s is working “in earnest” on building and delivering prototypes as it revamps how it does business after six radical initiatives met enthusiastic global feedback...
European storms take heavy toll
15 July 2019
Severe weather in Europe is expected to have caused up to $US2 billion in economic damage, with insurers expecting $US830 million in claims from central Europe, Impact Forecasting’s June catastrophe recap says...
Lloyd’s makes case for smart contracts
15 July 2019
Lloyd’s is keen to explore the potential for smart contracts after a study it undertook suggested the technology could increase efficiency and add value for customers...
FM Global warns on ‘preventable’ machine failures
15 July 2019
Nearly one-third of the 232 large-risk property-related claims FM Global handled last year arose from equipment breakdowns...
Regulator prepares UK personal lines probe report
15 July 2019
The UK’s Financial Conduct Authority will release interim findings from its investigation of pricing practices in home and motor cover before September, followed by a market study by the end of the year...
Lloyd’s stands firm on strong balance sheet: Best
15 July 2019
AM Best has affirmed Lloyd’s credit ratings, reflecting a strong balance sheet and operating performance...
Markel fills key roles in Asia
15 July 2019
Specialist commercial insurer Markel International has appointed an MD and director for its Asian business, to develop its regional growth strategy...
Contractor corruption takes toll on Florida market
08 July 2019
Corrupt misuse of “assignment of benefits” practices in Florida is driving up expenses, straining the insurance market and leading to significant rate increases, according to an AM Best report...
Rates harden in cat-prone California, Florida
08 July 2019
Personal lines in the US have recorded further price rises, with the composite rate up 3.5% in the second quarter, analyst MarketScout says.
Chubb starts coal power phase-out
08 July 2019
Chubb will no longer underwrite new coal-fired plants or insure new risks for companies that generate more than 30% of revenue or energy production from coal...
Lloyd’s appoints COO, sets digital placement target
08 July 2019
Lloyd’s wants 70% of insurance risks to be placed through its electronic platform by the end of the year...
Non-business risks crucial to credit ratings
08 July 2019
Environmental, social and governance risks are becoming more significant in determining insurers’ credit ratings, Moody’s says...
Swiss Re fills top Asia reinsurance post
01 July 2019
Swiss Re has appointed Russell Higginbotham as Reinsurance Asia CEO and Regional President, effective from next week. He takes over from Jayne Plunkett...
Honan creates Asian operation role
01 July 2019
Honan Insurance has created a Director of Operations – Asia position to capitalise on growing demand...
Brexit costs sector $7 billion and counting
01 July 2019
Brexit has cost the British financial services sector £3.9 billion since the 2016 referendum, a new report reveals...
Zurich signs UN business pledge on climate
01 July 2019
Zurich says it is the first insurer to sign the UN Global Compact Business Ambition Pledge to reduce the impact of the climate crisis...
AIR Worldwide improves Europe, UK models
01 July 2019
Catastrophe risk modeller AIR Worldwide has expanded its inland flood model for central Europe to include Poland, and has updated storm surge calculations for Britain...