Forecaster tips below-average Atlantic hurricane season
10 April 2017
A below-average Atlantic hurricane season is expected this year, forecaster Tropical Storm Risk says…
International
Debbie adds to global insurance bill for March
10 April 2017
Destruction caused by Cyclone Debbie and other severe weather events last month has left insurers with a global bill of more than $US2 billion ($2.67 billion), according to Impact Forecasting’s latest catastrophe report…
FM Global produces world flood map
10 April 2017
Commercial property insurer FM Global has developed an interactive flood map to help companies determine if their operations are at risk…
US start-up targets ‘modern urban consumers’
10 April 2017
An online insurer that targets city dwellers and covers everything “from your cardigan to your Cartier” has launched in the US…
US commercial rates turn
10 April 2017
US commercial property and casualty rates increased 1% in the first quarter, the first rise in 20 months, according to analyst MarketScout…
Lloyd’s records flat profit, picks Brussels as EU hub
03 April 2017
Lloyd’s has reported a pre-tax profit of £2.1 billion ($3.4 billion) for last year, unchanged from 2015, and says it will open a European Union subsidiary in Brussels post-Brexit…
Retaining EU access vital, BIBA warns
03 April 2017
The UK’s role as the leading insurance centre is at risk if it loses access to the European Union’s huge market after leaving the bloc, the British Insurance Brokers’ Association says…
UK regulator highlights comparator concerns
03 April 2017
The UK’s Competition and Markets Authority says price comparison websites help consumers “make informed choices and save money”, but it also flags concerns about the way they operate…
UK insurance jobs face major automation risk: PWC
03 April 2017
Almost one-third of UK financial and insurance jobs may be at high risk of automation by the early 2030s, according to a PricewaterhouseCoopers (PWC) report…
Lloyd’s urges united front to build city resilience
03 April 2017
Insurers, government officials and other stakeholders must move beyond asset-by-asset risk management to make cities more resilient to catastrophes, according to a new report…
Liability risks evolving, AGCS says
03 April 2017
“Defective products and work” is the largest cause of liability losses worldwide, while the rise of the digital economy will present new loss scenarios for insurers, according to Allianz Global Corporate & Specialty…
Pressure growing on Bermuda businesses, AM Best warns
03 April 2017
Bermuda’s (re)insurers face persistent challenging underwriting and investment conditions, according to ratings agency AM Best…
Willis Re works to track US thunderstorm risk
03 April 2017
Severe thunderstorms have been the largest annual aggregated risk in the US insurance industry over the past decade, topping hurricane losses, according to a Willis Re report.
Hannover Re buys into Lloyd's with Argenta deal
27 March 2017
Hannover Re will acquire UK group Argenta Holdings, which owns Lloyd’s managing agent Argenta Syndicate Management and Lloyd’s members’ agent Argenta Private Capital…
US insurers look to advanced analytics benefits
27 March 2017
Advanced analytics offer the greatest opportunities for the US insurance industry this year, according to almost one-third of respondents to an AM Best survey…
Internet of Things may transform supply chain risk management
27 March 2017
Internet of Things data and machine learning may overcome the failings of traditional supply chain risk management systems, which are falling short in a changing world, according to US analytics company Transvoyant…
Local business aids Talanx earnings lift
27 March 2017
HDI Global’s parent Talanx earned net profit of €907 million last year, up 23.6% on 2015 as all divisions performed better than expected and major loss claims came in below company estimates…
Global volcano model reveals extent of exposure
27 March 2017
A significant proportion of the 1 billion people who live near active volcanoes are uninsured for eruptions, according to Swiss Re…
UK SMEs slow to take up cyber cover
27 March 2017
British SMEs’ uptake of cyber insurance is not keeping pace with the ever-increasing risk, according to a report by research and consulting group GlobalData…
Allied World shareholders back Fairfax takeover
27 March 2017
Shareholders of Swiss (re)insurer Allied World last week approved a $US4.9 billion takeover offer from Canada-based Fairfax Financial Holdings…