GlobalData report reveals significant revenue growth
11 July 2022
A performance report from Globaldata shows many of the top insurers experienced considerable revenue growth last year as economic activity reached near pre-pandemic levels...
International
'Ghost broker' sentenced over bogus policies
11 July 2022
A “ghost broker” who pocketed around £50,000 over 15 months has been sentenced in the UK after acting as an illegal intermediary and setting up hundreds of fraudulent motor policies on behalf of other people by using false details and compromised bank accounts...
Climate panel urges immediate action on carbon reduction projects
11 July 2022
Leading industry figures have called on insurers to play a collective and proactive role in incentivising businesses towards renewable and climate-aware solutions...
Lloyd's Europe names Chief Underwriting Officer
11 July 2022
Lloyd’s Europe has announced Bertrand Heugues as its new Chief Underwriting Officer from July 14...
UK regulator appoints chairman, strengthens team
11 July 2022
The UK Financial Conduct Authority has appointed Ashley Alder as its new Chairman and has named six directors as it expands its headcount to pursue a three-year strategy outlined earlier this year...
Lloyd's report highlights growing risk of 'physical' cyber attacks
04 July 2022
Cyber attacks targeting critical infrastructure assets such as national energy grids are on the rise, a new Lloyd’s report produced with the Cambridge Centre for Risk Studies says...
Cyber attacks: US studies potential federal insurance response
04 July 2022
The US is exploring whether a federal insurance scheme to cover potentially catastrophic cyber attacks is needed, after a high-level government report warned the private insurance market and the country’s Terrorism Risk Insurance Program offer only limited protection...
Resilience gains fragile as protection gap widens: Swiss Re
04 July 2022
An improvement in economic and insurance resilience could be thrown off course this year by economic challenges and geopolitical tensions, while the global protection gap is widening, Swiss Re says...
Gallagher Re forms new global climate resilience role
04 July 2022
Global reinsurance broker Gallagher Re has named Antoine Bavandi Global Head of Public Sector, Parametric and Climate Resilience Solutions...
Marsh chief wants more support for future leaders
04 July 2022
Marsh McLennan President and CEO Dan Glaser says the insurance industry should promote opportunities for the next generation of leaders to meet “ever-changing” challenges...
'Flowed into pockets of corrupt officials': JLT Specialty fined over Colombia commissions
27 June 2022
UK regulator the Financial Conduct Authority has fined JLT Specialty £7.88 million over “lax controls” that led to commissions it paid in relation to a business deal in Colombia ending up in “the pockets of corrupt officials”...
No country immune: Australia among most vulnerable to cyber attack
27 June 2022
Australia is among countries most vulnerable to cyberattacks, RIMS says, with an average cost of cybercrime $6.6 million...
Brokers 'must do more' on M&A risk
27 June 2022
Brokers should play a greater role in helping tech clients mitigate merger and acquisition deal risk, cyber specialist CFC says...
Volatile US lightning claim costs decline to $1.9 billion
27 June 2022
US insurers paid out $US1.31 billion in lightning-caused homeowner claims last year, dropping from $US2.06 billion in the previous 12 months...
Zurich report outlines systemic failures in preparation for 'Bernd' weather event
27 June 2022
Zurich Insurance has released analysis of last year’s severe flooding in parts of western Europe, saying the catastrophic weather event showcased inadequate standards of flood preparation and resilience...
Beware the rise of virtual Picassos: Swiss Re scans emerging risks
20 June 2022
Swiss Re has outlined in its annual Sonar report the emerging risk topics it believes the insurance industry and world at large cannot afford to dismiss...
Howden acquires US risk adviser
20 June 2022
Howden Group is acquiring TigerRisk Partners, a US-headquartered risk and strategic adviser to the global and reinsurance industry...
Lloyd's re-appoints Chairman
20 June 2022
Bruce Carnegie-Brown will continue as Chairman of Lloyd’s after being appointed to a third term as head of the global insurance body...
Cyber policy cancellations on the rise
20 June 2022
The Russia-Ukraine war has “gifted” cyber attackers an uneven playing field, yet at the same time cyber policy cancellations are likely to rise this year as living costs rise, GlobalData says...
Strong M&A to be further spurred by record cash pipeline: Aon
20 June 2022
Global merger and acquisition activity won’t match the record levels of 2021 this year, though dealmakers maintain a healthy pipeline with cash at unprecedented levels and will seek transaction opportunities in digital transformation, Aon says...