New UK planning laws ‘increase flood risk’
03 October 2011
The Association of British Insurers has warned that a relaxation of UK planning laws currently under consideration could lead to inappropriate developments in flood-prone areas…
International
Worst six months on record guts Lloyd’s balance sheet
26 September 2011
Lloyd’s has posted a £697 million ($1.54 billion) loss for the first six months of this year following a string of natural catastrophes, including the Australian and US floods and earthquakes…
Lloyd’s endorses new MGA association
26 September 2011
Lloyd’s has welcomed the launch of the newly formed Managing General Agents Association, saying it will give the sector a much-needed voice…
Armed guards to fight piracy
26 September 2011
Somali pirate attacks in the Arabian Sea and Persian Gulf are continuing to rise, but an increase in the use of armed guards is slashing success rates, according to an Aon Risk Solutions report…
UK motor insurance running more smoothly
26 September 2011
The beleaguered UK motor insurance industry is poised for a return to underwriting profitability, according to a report by actuaries Towers Watson…
KPMG: London market in good shape
26 September 2011
The London insurance market remains robust despite the high volume of large claims, a report from KPMG has found…
US flood plan in limbo as deadline looms
26 September 2011
The US National Flood Insurance Program could be shut down on Friday unless the Senate agrees to extend the program past Friday’s expiry date…
Lloyd’s begins writing direct insurance in China
19 September 2011
Lloyd’s of London has issued its first direct insurance policy in China through its fully owned subsidiary Lloyd’s Insurance Company (China) Ltd…
Catlin accuses Aon Benfield of talking reinsurance down
19 September 2011
Catlin Group CEO Stephen Catlin has accused Aon Benfield’s Chief Strategy Officer Bryon Ehrhart of being “irresponsible” on rates…
Terrorism threat more diverse but no less deadly, says RMS
19 September 2011
There have been more than 2400 major terrorist attacks in the 10 years since 9/11, and the perpetrators have become more diverse, says Risk Management Solutions…
Catastrophes pushing up prices
19 September 2011
Rising insurance premiums for commercial property and workers’ compensation pushed up aggregate commercial insurance prices in the US by almost 1.5% in the second quarter of 2010/11…
Reinsurers spruik more price increases at January renewals
19 September 2011
Reinsurers have told the annual Reinsurance Rendezvous meeting in Monte Carlo that the industry can expect further price increases at the January renewals…
Focus on reinsurance price ‘erodes insurance partnerships’
19 September 2011
Aon Benfield says the insurance cycle remains challenging and the focus on reinsurance price is preventing insurers and reinsurers from being more innovative…
HSBC Bank looks to sell off insurance arm
19 September 2011
HSBC Bank has declined to comment on speculation it is looking to offload its general insurance business for around $US1 billion ($967 million)…
First-half cats cost industry $US70 billion
12 September 2011
Total insured losses for the global insurance industry reached an estimated $US70 billion ($67 billion) in the first half of 2011, according to Swiss Re’s latest Sigma report…
US avoids storms but cat bills continue to mount
12 September 2011
Insured losses from recent wildfires in Texas will easily top the $US100 million ($94 million) mark, according to the Insurance Council of Texas…
Insurance-linked securities market continues to expand – Swiss Re
12 September 2011
The market for insurance-linked securities such as catastrophe bonds continues to expand and is broadening beyond US perils, says Swiss Re in a study of the market…
Compo culture must go, say UK insurers
12 September 2011
The Association of British Insurers is stepping up its campaign to eliminate the “have a go” compensation culture…
London company market size surprises
12 September 2011
The inaugural London Company Market Statistics Report, conducted by the International Underwriting Association, has revealed that the London market is larger than previously thought…
Typhoon damage in Japan could reach $US600 million
12 September 2011
Tropical Storm Talas, which hit Japan on September 2, is expected to cost between $US150 million ($142 million) to $US600 million ($566 million) in insured losses, according to catastrophe…