Cyber premium passes $US2 billion milestone
24 June 2019
Total cyber insurance primary premium grew 12.6% last year to $US2.03 billion, AM Best says...
International
Marsh warns against US terror backstop complacency
24 June 2019
Terrorism is an evolving and expanding risk and a government reinsurance backstop remains vital, Marsh & McLennan has warned US politicians...
‘Data surge’ will create industry skills gap: Lloyd’s
24 June 2019
The surge of data from emerging technologies will create a temporary skills gap in the insurance industry, Lloyd’s warns...
AIG combines reinsurance operations
24 June 2019
AIG has established a new arm to consolidate its “assumed reinsurance operations” into one global business...
Lloyd’s appoints strategic advisers
24 June 2019
Lloyd’s has set up global and London advisory committees to support its new strategy...
UK flood levees save $2 billion a year
17 June 2019
New modelling shows the UK’s inland flood defences save £1.1 billion in damage every year, the Association of British Insurers says...
Study shows US flood cover ‘disparity’
17 June 2019
About 47% of Americans say flood insurance is important, but only 17% have taken out such cover, a National Association of Insurance Commissioners survey has found...
Ex-spymaster plays down Brexit threat
17 June 2019
Brexit is a “sideshow” and will have minimal impact on the London insurance market, according to the former head of spy agency MI6...
Chubb demands action on ‘broken’ class action system
17 June 2019
Chubb is calling for US legal system reform after an explosion in “meritless” class actions instigated by lawyers chasing a fees windfall...
Growth in US cyber premium slows
17 June 2019
US cyber premium grew about 10% to $US2.03 billion last year, slowing compared with the previous two years when expansion exceeded 30%...
RIMS flags drop-off in hurricane numbers
17 June 2019
Early season analysis predicts below-average Atlantic hurricane activity this year thanks to the developing El Nino in the Southern Ocean, the Risk and Insurance Management Society says...
Reset or risks irrelevance, Lloyd’s chief warns
17 June 2019
Lloyd’s CEO John Neal warns the market risks sliding into irrelevance if it does not embrace the digital age...
Study reveals complacency around cyber security
17 June 2019
Some senior executives may be dangerously overconfident in their companies’ abilities to fend off cyber attacks, a global survey suggests...
S&P sees ‘green shoots’ in reinsurance pricing
11 June 2019
Property catastrophe rates spiked 15-25% at the April and June renewals on loss-affected accounts, particularly in Japan and Florida, S&P Global Ratings says…
Tornados wreak havoc across US
11 June 2019
Insurers face multibillion-dollar payouts after a prolonged run of storms pushed US tornado numbers to a four-year high in May, according to Aon’s monthly Global Catastrophe Recap…
Cyclone forecast offers relief for east Asia
11 June 2019
The number of tropical cyclone landfalls in east Asia may be below average this year due to weak El Nino conditions…
BHSI granted licence for French operations
11 June 2019
Berkshire Hathaway Specialty Insurance has opened an office in Paris after getting its insurance license from French regulatory authorities…
Gallagher reaches new heights in aviation
11 June 2019
Gallagher aims to strengthen its position in the aviation market after formally taking ownership of JLT’s global aerospace broking portfolio…
Major shipping losses drop to 21st-century low
11 June 2019
Large shipping losses fell to their lowest level this century when fewer than 50 vessels were lost worldwide last year, although the number of incidents held steady…
BMS wins private equity, pension fund investment
11 June 2019
Specialist (re)insurance broker BMS has agreed a deal with two investors that it says values the London-based group at £500 million…