TRIA ‘may follow Australian example’
22 June 2015
The US terrorism pool may follow Australia’s lead and begin purchasing private reinsurance, according to a new report from the Congressional Budget Office…
International
Directors warned of D&O gaps for cyber attacks
22 June 2015
Company directors may face costly lawsuits if they are negligent in preventing or managing cyber attacks, according to Marsh…
Poor cargo handling swells marine losses: Allianz
22 June 2015
Significant damage to ships and cargoes is rising due to a lack of skills and resources for handling heavy lifts, Allianz Global Corporate & Specialty says…
UK companies ‘falling short on risk culture’
22 June 2015
About 70% of UK businesses have failed to embed positive risk cultures, despite rising risk exposures, according to a QBE European Operations survey…
Auto drives US commercial premiums
22 June 2015
US commercial premiums grew 2% in the first quarter of this year, according to consultants Towers Watson…
Insurers chase profits in political risk
22 June 2015
Insurers are pumping more resources into political risk coverage, which offers better returns than traditional property and casualty lines, according to a Marsh report…
KPMG urges greater industry innovation
15 June 2015
Insurers are missing opportunities to play a more prominent role in tackling global challenges such as climate change, disaster resilience and infrastructure investment because they lack innovation, according to a report from KPMG…
Global cyber cover worth almost $200 billion
15 June 2015
Cyber-risk coverage worldwide is about $US150 billion, with a take-up rate across all industries of about 16%, according to a new report by Standard & Poor’s that cites estimates from Marsh…
Global warming hiatus ‘a myth’
15 June 2015
The rate of global warming has not slowed down, according to research by the US-based National Oceanic and Atmospheric Administration…
Tokio Marine buys US insurer HCC
15 June 2015
Tokio Marine will buy US-based HCC Insurance Holdings for $US7.5 billion as part of a continuing acquisition drive…
Flood Re chief sets April start date
15 June 2015
The UK Government’s flood reinsurance pool, Flood Re, will go live in April next year after “extensive testing”…
G7 vows to widen insurance coverage
15 June 2015
Leaders from seven leading economies have cited insurance as part of a pledge to build resilience in countries vulnerable to climate change risk…
British insurers fear EU exit
09 June 2015
UK insurers have warned of the consequences if Britain leaves the European Union, with a referendum on the issue expected next year…
Reinsurance prices moderate
09 June 2015
Reinsurance prices moderated at the June 1 renewals, partly due to price reductions from previous seasons and significant amounts of new limits, according to Guy Carpenter…
AIG seeks smooth progress
09 June 2015
Achieving “sustainable growth” is a priority for AIG, according to CEO Peter Hancock…
London market feels pressure: AM Best
09 June 2015
Changing dynamics and intense competition are challenging the London insurance market, according to an AM Best report…
US storm bill nears $US3 billion
09 June 2015
Impact Forecasting estimates economic and insured losses of almost $US3 billion arising from the storms and floods that hit Texas and Oklahoma last month…
Most RIMS members buy cyber cover, survey shows
09 June 2015
The US-based Risk and Insurance Management Society has held its first Cyber Survey, in a bid to share knowledge and experience of the growing threat…
Tread carefully on expansion path: AM Best
09 June 2015
Insurers should exercise prudence when growing and diversifying their businesses, AM Best warns…
XL Catlin reaps benefits of merger success
09 June 2015
XL’s acquisition of Catlin is expected to lead to savings of $US250 million, up from the original $US200 million estimate…