PPI scandal drives spike in UK complaints
23 April 2018
The number of complaints to UK financial services businesses rose 13% in the second half of last year, the Financial Conduct Authority says…
International
Risk management off the pace as technology evolves
23 April 2018
Risk professionals are not keeping pace with disruptive technology impacts and need to take a broad view across their organisations, according to an annual report by Marsh and the Risk and Insurance Management Society…
Rate rise lifts Swiss Re
23 April 2018
Swiss Re pushed through a 2% price rise across its property and casualty portfolio and underwrote $US8.1 billion in premium during the renewal season…
US weighs affordability options for flood insurance
23 April 2018
The US Federal Emergency Management Agency has unveiled options to develop an affordability program for flood insurance sold under the National Flood Insurance Program…
Risk of war at ‘post-Cold War high’
16 April 2018
The threat of war is at its highest point since the Cold War ended nearly three decades ago, according to Aon’s annual Political Risk, Terrorism and Political Violence Maps…
Insurtech M&A values triple, as investments set record
16 April 2018
The value of mergers and acquisitions (M&A) in the insurtech space soared last year to more than three times the 2016 figure, according to Willis Towers Watson research…
Insurance groups ‘unprepared for climate impact’
16 April 2018
The Sustainable Insurance Forum and the International Association of Insurance Advisers have released a draft paper on climate change risk, showing how the crisis may affect the industry in the areas of underwriting, investment and regulation…
Hurricanes lead to $186 billion blowout: Swiss Re
16 April 2018
The second-costliest Atlantic hurricane season pushed insured losses worldwide to a record $US144 billion last year, more than double the $US56 billion total for 2016, according to the latest Swiss Re Sigma report…
Insurers respond to changing terrorism threat
16 April 2018
Terrorism insurance coverage is expanding in response to evolving threats, according to a report from Marsh…
AM Best warns on US terrorism backstop expiry
16 April 2018
Insurers should prepare for termination of the US Government terrorism reinsurance backstop at the end of 2020, AM Best says…
AIR works on extreme liability model
16 April 2018
Catastrophe modeller AIR Worldwide is working with Bermuda-based RenaissanceRe to develop the industry’s first probabilistic model for extreme liability events…
Enterprise risk management critical amid tech changes: AM Best
16 April 2018
AM Best has raised the profile of enterprise risk management in its insurer rating evaluations due to increasing technological change and cyber-risk challenges…
UK insurers failing on renewal disclosure rules
09 April 2018
The Financial Conduct Authority has warned it will act against UK insurers that fail to display year-earlier premiums on renewal notices along with a message encouraging customers to shop around…
EY urges new thinking on insurtech M&A
09 April 2018
Merger and acquisition activities need to change if insurers want to take advantage of the tech boom, according to a global report from consulting group EY…
Hurricane bill hits $285 billion
09 April 2018
Hurricanes Harvey, Irma and Maria caused a combined $US220 billion in economic losses, estimates by Impact Forecasting show…
Capacity again curbs reinsurance rate increases
09 April 2018
Reinsurers have failed to push through significant rate rises in the April 1 renewal season as buyers maintain the upper hand in a market flush with capacity, according to Willis Re…
Mega-ships, technologies raising risk: IUMI
09 April 2018
Technological advances in the shipping industry are raising new concerns, alongside risks associated with operating ever-larger vessels, the International Union of Marine Insurance says…
Catastrophes rock property insurance market: Aon
09 April 2018
Last year was the third most costly on record for natural catastrophe losses in the property insurance market, according to an Aon report…
CSU forecasters flag another busy Atlantic hurricane season
09 April 2018
Colorado State University experts have forecast a slightly above-average Atlantic hurricane season this year…
Swiss Re upbeat as market turns
09 April 2018
Swiss Re says the outlook for the insurance industry remains positive as the market continues to improve…