AIR sets up global resilience practice
25 July 2016
Catastrophe modeller AIR Worldwide has formed a global resilience practice to support risk reduction…
International
Japan quakes top half-year nat-cat losses
18 July 2016
April earthquakes in Japan led to the first half’s largest damage bill, totalling $US25 billion including $US5.9 billion in insured losses, Munich Re says…
UK law reforms to clear road for driverless cars
18 July 2016
Two proposed legislative reforms, including one to insurance law, will clear the way for automated vehicles to hit UK roads in the next two to four years…
UK regulator fines underwriter $4.5 million
18 July 2016
The UK’s Financial Conduct Authority has fined Towergate Underwriting Group £2.63 million for breaching rules on the handling of client and insurer money…
Canada fire dominates XL Catlin cat losses
18 July 2016
XL Catlin has reported estimated pre-tax natural catastrophe losses of $US240 million for the second quarter…
Chubb rethinks loss estimate after spate of disasters
18 July 2016
Chubb estimates its pre-tax natural catastrophe losses for the second quarter are $US390 million…
Prince addresses Willis Towers Watson sustainability event
18 July 2016
Willis Towers Watson has hosted a global sustainability forum in London, convened by the Prince of Wales…
III names Zurich exec as new President
18 July 2016
Sean Kevelighan, the Global Head of Public Affairs for Zurich Insurance Group, will replace Robert Hartwig as President and CEO of the Insurance Information Institute from August 8…
Institute issues model warning as climate change losses soar
18 July 2016
Insurance losses caused by climate change have tripled since the 1980s to an inflation-adjusted average of $US50 billion a year from $US10 billion, the Global Risk Institute says…
BGL eyes London float for Compare The Market
18 July 2016
BGL Group is considering a London listing for its insurance comparison business Compare The Market, according to media reports…
Higher cat losses, expenses hit US P&C income
18 July 2016
Private US property and casualty insurers’ first-quarter net income fell 26.5% to $US13.3 billion, hit by higher catastrophe losses and loss adjustment expenses, according to a new report…
China floods ‘point to La Nina’
11 July 2016
Natural disasters caused global economic losses of more than $US5 billion last month, according to the latest report from Aon Benfield subsidiary Impact Forecasting…
Zurich sell-off continues with South Africa deal
11 July 2016
Zurich will sell its operations in South Africa and Botswana for an undisclosed sum to Canada’s Fairfax Financial Holdings…
US insurers ‘tired of rate cuts’
11 July 2016
US commercial insurance rates dropped 1% last month, but insurers are running out of patience, according to analyst MarketScout…
Canada fire losses hit record $3.6 billion
11 July 2016
Insured property losses from the recent northern Alberta wildfire are estimated at $C3.58 billion, more than twice the sum from Canada’s previous most costly natural disaster, according to the Insurance Bureau of Canada…
TRIA renewal stabilises US terrorism coverage: Marsh
11 July 2016
Terrorism insurance take-up in the US improved to 61% last year from 59% in 2014 after Congress extended the Terrorism Risk Insurance Act, according to Marsh…
Atlantic hurricane forecast worsens
11 July 2016
Colorado State University forecasters have increased the expected number of named Atlantic storms this season from 14 to 15, with six predicted to become hurricanes…
Chinese insurers start quake policy sales
11 July 2016
Chinese insurers have started selling a policy covering earthquake damage, as the nation moves towards a market-driven approach to compensating disaster losses…
Reinsurance rate reductions slowing: Willis Re
04 July 2016
Market softening continued during the June-July reinsurance renewal period, but at a slower pace, according to Willis Re’s latest report…
Fitch warns on Brexit impact
04 July 2016
Britain’s decision to leave the European Union may have adverse implications for the UK insurance industry, Fitch Ratings warns…