Catastrophes 'put $847 billion in jeopardy'
16 December 2019
Catastrophic events could wipe more than half a trillion dollars from world economic growth in 2020, according to the Cambridge Centre for Risk Studies’ latest Global Risk Index...
International
More competition and change predicted for US insurers
16 December 2019
Property and casualty insurers need to evaluate their distribution, underwriting, pricing and risk mitigation business models to break away from their competitors, a new report from Guy Carpenter says...
Lloyd’s creates technology and transformation group
16 December 2019
Lloyd’s has created a new Technology and Transformation Committee to oversee its Blueprint One plan to improve performance, and has also raised £300 million in debt to fund the program...
Global insurance deal value tops $22 billion in Q3
16 December 2019
Insurance industry deals around the globe reached a value of $US15.17 billion in the third quarter, GlobalData says...
‘Tell a better story’: talent drought challenges insurers
16 December 2019
Insurance leaders should update job descriptions to attract more tech-savvy workers and also consider how their corporate missions relate to younger generations looking for a sense of purpose from work...
Resilient insurers adapting to volatile economy: Deloitte
09 December 2019
The insurance industry remains resilient, is continuing to generate growth around the world and maintaining overall profitability despite turbulence in the global economy, a new study by Deloitte says...
California bans insurers from ditching fire-risk policies
09 December 2019
California has ruled that insurers cannot cancel or refuse to renew residential property policies due to wildfire risk for a year...
Floods in Europe tops November catastrophes list
09 December 2019
European flooding and inland storms led to economic losses estimated at €1.7 billion, Aon’s Impact Forecasting says in a November catastrophes recap...
More pain in store for D&O players
09 December 2019
So-called “bad news” not linked to financial results will trigger more claims in the directors’ and officers’ space, further straining what is already a loss-making line for insurers, according to Allianz Global Corporate & Specialty...
Lloyd’s caters to fast-growing space market
09 December 2019
Lloyd’s has introduced a new multi-million-pound insurance policy called Llift Space for the emerging private spaceflight industry...
US-China rivalry ranks as top political risk
09 December 2019
The tussle for global supremacy between the US and China looms as the biggest political risk next year, according to a Willis Towers Watson global survey of 41 major companies...
Mindsets shifting as gender diversity progresses
09 December 2019
The global financial services sector is making progress on gender diversity in the workforce as mindsets evolve, a report from Guy Carpenter affiliate Oliver Wyman says...
Industry steps up coal exit
02 December 2019
The number of insurers who have made moves to reduce covers for coal businesses has more than doubled to 17 this year, according to the Greenpeace-backed Unfriend Coal campaign...
Dorian ranked as hurricane season’s ‘most notable’ storm
02 December 2019
The Atlantic hurricane season ended last month with maximum Category 5 storm Dorian ranked as the “most notable” in terms of damage caused, the US Insurance Information Institute says...
Axa reins in coal underwriting, launches FastCat
02 December 2019
French insurer Axa has banned its insurance team from offering cover to new coal projects as it launches a parametric assistance product called FastCat and urges that more be done to counter the “climate emergency”...
Hong Kong faces extreme heat challenge
02 December 2019
Hong Kong must continue strengthening its resilience towards extreme weather events, including severe heat, which are increasing in frequency and intensity due to climate change, a new report finds...
Zurich takes control of Indonesian insurer
02 December 2019
Zurich has invested an undisclosed amount for an 80% stake in PT Asuransi Adira Dinamika, one of Indonesia’s key general insurers with $US170.4 million in gross written premium last year...
UK insurers face $210 million bill from Yorkshire floods
02 December 2019
Insured losses from the Yorkshire and Midlands floods are expected to reach £110 million, according to the Association of British Insurers...
Lloyd’s unveils #SpeakUp campaign
25 November 2019
Lloyd’s has initiated a new campaign to counter unacceptable behaviour and accelerate a culture of integrity, respect and inclusion across its market...
Allianz Global offers unbundled risk services
25 November 2019
Allianz Global Corporate and Specialty is offering new risk consulting, captive fronting and crisis management services for its property & casualty business clients...