Underinsurance puts pressure on Asian governments
16 June 2014
Asia-Pacific has been more vulnerable to natural catastrophes than any other region in the past 20 years, and underinsurance means governments may no longer be able to act as insurer…
International
US commercial premium growth pace ‘slowing’
16 June 2014
US commercial premiums grew 4% in the first quarter, as gains slowed to their lowest level since 2011, according to Towers Watson…
Lloyd’s tips Germans for World Cup domination
16 June 2014
Germany is a shoo-in for the current soccer World Cup – according to a Lloyd’s assessment of teams’ insurable values…
No let-up on reinsurance price cuts: Guy Carpenter
10 June 2014
Competition from alternative markets is putting further downward pressure on reinsurance pricing, according to Marsh subsidiary Guy Carpenter…
TRIA extension moves step closer
10 June 2014
The US Senate Banking Committee has approved a seven-year extension to the Terrorism Risk Insurance Act, which was due to expire at the end of this year…
Forecasters raise Atlantic hurricane prediction
10 June 2014
Experts at Colorado State University have adjusted this year’s Atlantic hurricane forecast, increasing the number of storms expected…
Rise in capacity drives down US D&O rates
10 June 2014
US directors’ and officers’ insurance rates fell by an average of 4.8% in the first quarter, according to Aon…
Monthly US storm losses top $1 billion
10 June 2014
Storms in the US led to insured losses of more than $US1 billion ($1.07 billion) last month, according to Aon Benfield subsidiary Impact Forecasting…
Global ILS market off to strong start
10 June 2014
Activity in the global insurance-linked securities market surged to a first-quarter record this year, according to the Bermuda Insurance-Linked Securities update…
Farmers drops Chicago flood lawsuit
10 June 2014
Zurich-owned Farmers Insurance has dropped its legal action against councils in the Chicago area, ending one of the first lawsuits related to climate change…
Indonesia and Myanmar tipped as markets to watch
10 June 2014
Indonesia is beginning to attract more interest from global insurers, while Myanmar should also be high on the list of potential markets, according to law firm Clyde & Co…
US rate rise surprises analysts
10 June 2014
US commercial rates grew 3% last month compared with 2% in April, according to analyst MarketScout…
Insurer sues Chicago councils over climate change inaction
02 June 2014
Zurich-owned Illinois Farmers Insurance Co is suing 12 councils in Chicago and the state of Illinois, claiming they failed to respond to threats from climate change…
Global insurance risks ease: S&P
02 June 2014
Risks facing global insurers are easing as interest rates begin to rise, economies show signs of recovery and European conditions improve, Standard & Poor’s says…
Zurich urges collaboration on flood mitigation
02 June 2014
Zurich has called on governments, communities and insurers to rethink their approach to flood mitigation, particularly in Asia, where only 5% of losses are insured…
UK brokers ‘must manage conflicts of interest’
02 June 2014
UK insurance intermediaries are failing to manage conflicts of interest when dealing with small business clients, according to the country’s Financial Conduct Authority…
Standard delivers Savage blow to Lloyd’s
02 June 2014
UK insurance and investments house Standard Life has named one of Lloyd’s most senior executives as its new CFO and Executive Director…
Car insurance scams dent UK industry
02 June 2014
Motor insurance scammers are the biggest drain on the UK insurance industry, according to the Association of British Insurers…
S&P lifts AIG outlook to stable
02 June 2014
Standard & Poor’s has revised its outlook for AIG from negative to stable, noting its fixed-charge coverage has improved on stronger operating earnings and lower interest expenses…
Balkan floods to surpass war costs
02 June 2014
Damage from last month’s floods is likely to cost the countries that made up the former Yugoslavia more than the war in the 1990s, but insurance losses will be low due to limited…