ILS to drive reinsurance rates: Fitch
11 December 2017
Future rate increases in reinsurance depend on the insurance-linked securities market’s appetite for investment, according to Fitch…
International
California wildfires force more evacuations
11 December 2017
Authorities in Santa Barbara County have issued an evacuation order as the wildfires in southern California continue into a second week…
Insurers to accelerate insurtech investments: Deloitte
11 December 2017
Insurers will allocate more resources to investing in and acquiring insurtechs next year, forced by digitalisation’s impact on the industry, according to Deloitte…
Munich Re, Swiss Re secure AM Best upgrades
11 December 2017
AM Best has upgraded the long-term issuer credit ratings of Munich Re, Swiss Re and their affiliates to aa from aa-…
Vietnam suffers rare billion-dollar cat loss
11 December 2017
Typhoon Damrey caused $US1 billion of damage in Vietnam after it made landfall last month, according to Aon Benfield subsidiary Impact Forecasting…
Hurricane season among ‘most devastating’
04 December 2017
The recently concluded Atlantic hurricane season was the busiest since 2005 and one of the most damaging on record, according to the Insurance Information Institute…
Lloyd’s hurricane payouts surpass $2 billion
04 December 2017
The Lloyd’s market has so far paid about $US1.7 billion for claims arising from hurricanes Harvey, Irma and Maria…
Second-wave insurtech tipped to bring ‘more ambitious’ change
04 December 2017
A second wave of insurtech is likely to follow a first-generation shakeout and may have a greater impact on the industry, according to a report by Marsh & McLennan consulting group Oliver Wyman and German insurtech investor Policen Direkt…
Cyber cover ‘may join personal lines’
04 December 2017
Personal cyber insurance may become the norm as online crime escalates, London-based analytics company GlobalData says…
JLT urges strategic approach to cyber risk
04 December 2017
Businesses must redefine the way cyber risk is viewed or they will waste their efforts to protect against the danger, according to JLT…
Automation could displace up to 800 million workers
04 December 2017
With technology already looming as a threat to the jobs of many insurance industry workers, a new report by McKinsey Global Institute has warned they are being swept up in a revolutionary trend…
Chubb expects $284 million California wildfire loss
04 December 2017
Chubb puts its preliminary catastrophe loss estimate for the fourth quarter at $US249 million after tax, including $US215 million from the California wildfires…
Cat losses to trigger premium increases: Swiss Re
27 November 2017
Property and casualty prices are poised to rise next year as the industry deals with huge catastrophe losses suffered in recent months, according to Swiss Re…
US industry faces ‘record year’ for cat losses
27 November 2017
US property and casualty insurers recorded a $US20 billion net underwriting loss in the nine months to September as hurricanes and other catastrophes took a toll, according to an AM Best special report…
Munich Re hails ‘remarkable’ climate change program
27 November 2017
Progress on insuring people in developing countries against climate risks is “the most remarkable” result of the Bonn climate change summit, according to Munich Re natural catastrophe expert Peter Hoeppe…
OECD urges action to remove cyber-insurance barriers
27 November 2017
The OECD says insurance should be considered an essential part of nations’ cyber-security strategies, as the potential for catastrophic economic and commercial damages rises…
British insurers welcome insurance tax freeze
27 November 2017
The Association of British Insurers has hailed Chancellor Philip Hammond’s decision to keep the insurance premium tax (IPT) at 12% in last week’s budget…
Global reinsurer profitability may hit six-year low
20 November 2017
A catastrophe-ridden 2017 could drive global reinsurer profitability to a six-year low, according to AM Best…
Natural disasters ‘will increase until 2060’
20 November 2017
Climate change will lead to an increase in natural disasters until at least 2060, according to the World Meteorological Organisation…
US lower house approves flood program renewal as expiry looms
20 November 2017
The US House of Representatives has reauthorised the National Flood Insurance Program (NFIP), putting its extension a step closer as an expiry date nears…