Arizona floods take heavy toll
13 October 2014
Floods in Arizona last month were some of the worst since 1970 and caused insured losses of about $US100 million ($112.66 million), according to Impact Forecasting…
International
P&C sector lifts half-year profit
13 October 2014
US property and casualty insurers earned net income after tax of $US26 billion ($29.7 billion) in the half-year to June 30, up from $US24.4 billion ($27.9 billion) in the corresponding…
Global broker makes Sullivan Chairman
13 October 2014
Former AIG president and CEO Martin Sullivan has become Chairman of global reinsurance, wholesale and specialty broker Cooper Gay Swett & Crawford…
BrokersLink widens its reach
13 October 2014
International brokerage network BrokersLink has expanded its membership base to Slovenia, Serbia and Nigeria, and says its new incorporated company structure will deliver further growth…
Allianz names its new CEO
06 October 2014
Allianz executive Oliver Bate is to take over as CEO from Michael Diekmann, who will step down after the group’s annual general meeting next May…
Munich Re to establish regional marine unit in HK
06 October 2014
Munich Re is to set up an Asia-Pacific marine reinsurance underwriting centre in Hong Kong next year…
UK increases scrutiny on insurance execs
06 October 2014
The Bank of England and other regulators are developing a regime to improve the accountability of key executives of insurance companies…
Cyber incidents rise 48%, survey shows
06 October 2014
The number of cyber-related security incidents increased 48% to 42.8 million last year, according to a PricewaterhouseCoopers worldwide survey…
Fed quizzes insurers on regulatory impacts
06 October 2014
The US Federal Reserve has launched a “quantitative impact study” to evaluate the effects of its revised regulatory capital framework for insurance companies…
Global ILS market sets record in Q2
06 October 2014
The global insurance-linked securities market grew 38% to a record issuance volume of $US4.6 billion ($5.2 billion) in the second quarter of this year, according to a…
NY regulator warns of cyber ‘armageddon’
29 September 2014
New York’s Department of Financial Services says insurers have a key role to play in helping to prevent an “armageddon-type” cyber event…
Europe rules the waves, marine insurers told
29 September 2014
Europe has a 52.6% share of the marine insurance market, with Asia-Pacific on 25.5% and Latin America 10.1%, according to data from the International Union of Marine Insurance…
Lloyd’s profit lifts, GWP dips
29 September 2014
Lloyd’s says gross written premium fell 4.1% to £14.8 billion ($27.4 billion) in the six months to June 30…
Insurers worry as clock ticks down on US terrorism act
29 September 2014
The US insurance industry is growing nervous as expiry of the federal Terrorism Risk Insurance Program Reauthorisation Act draws closer…
US insurers on the way back up
29 September 2014
US insurers are recovering from the global financial crisis with record profits and capital surpluses, according to the Federal Insurance Office…
Cyber-insurance market grows
29 September 2014
Cyber attacks are on the rise and interest in insuring against them is growing, according to a new Guy Carpenter Emerging Risks report…
UK motor comparison market ‘needs more competition’
29 September 2014
The UK Competition and Markets Authority has called for tighter regulation of motor insurance comparators…
Giant lawsuit hangs on flood definition
29 September 2014
A lawsuit against insurers by US rail passenger company Amtrak hinges on the definition of “flood” and whether damage inflicted by Superstorm Sandy was one or several occurrences…
UK banks launch cyber crime portal
29 September 2014
The British Bankers Association has unveiled a new weapon against cyber attacks, fraud, money laundering and bribery in the banking and financial sector…
Data will transform personal coverage: Aon Benfield
22 September 2014
Big Data could lead to the creation of a single lifestyle policy covering all an individual’s liabilities, according to Aon Benfield…