Elsa blows in as first hurricane of the season
05 July 2021
Hurricane Elsa continues to create problems for Caribbean countries after causing extensive damage at the weekend, becoming the first hurricane for this year’s Atlantic season...
International
Ardonagh launches reinsurance brokerage
05 July 2021
UK-based Ardonagh has entered the reinsurance broking space with the launch of Inver Reinsurance Brokers, which it says will harness its scale and resources to be a top five global player...
Hiscox settles UK lockdown BI cases
05 July 2021
UK and Bermuda insurer Hiscox has agreed a settlement with members of the Hiscox Action Group for business interruption losses suffered during a COVID-linked lockdown imposed by the UK Government last year...
Global power capacity 'realistically' down to $US1.4 billion: WTW
05 July 2021
Willis Towers Watson estimates theoretical insurance capacity limits for the international power market have contracted further to around $US3.25 billion globally, with the “realistic level” closer to $US1.4 billion...
Governments urged to address worsening flood risk in Marsh report
28 June 2021
A new Marsh & McLennan report has urged governments globally to tackle the growing threat of flood risk, which is set to become more severe and frequent in coming years, in part as a result of accelerating climate change...
Top 20 public insurers see revenue slide 5%
28 June 2021
Combined revenue at the world’s top 20 insurers fell 5% to $US1.92 billion in 2020 as 11 experienced declines and nine achieved “subdued-to-moderate revenue growth,” GlobalData says...
RIMS joins pandemic BI lobby group
28 June 2021
The Risk and Insurance Management Society has joined a coalition including movie companies and hospitality groups that is campaigning for a US Government-backed business interruption insurance program...
Insurers well-placed to track climate change: Prince
28 June 2021
The Prince of Wales says the insurance industry is “exceptionally well placed to appreciate the impact of a changing climate” and has a “unique and deep understanding of the evolving impacts and risks”...
CFC Syndicate 1988 begins trading
28 June 2021
London-headquartered specialist underwriting agency CFC says its CFC Syndicate 1988 has incepted and started trading in the Lloyd’s market...
UK business interruption settlements rise to $855 million
21 June 2021
UK business interruption settlements for COVID-19 related claims have reached £467.3 million, the Financial Conduct Authority says in its latest monthly update...
Axa France offers BI settlement to restaurants
21 June 2021
Axa France has offered a €300 million settlement over business interruption cover to 15,000 restaurant owners affected by COVID-related trading restrictions “in the context of continuing judicial uncertainty”...
Margin for US cyber insurance 'largely eroded' in 2020: Aon
21 June 2021
A rise in ransomware claims has led to a doubling in US cyber premiums in five years while the margin for this cover “largely eroded,” Aon says...
Sixth straight above-average hurricane season on the cards
21 June 2021
Weather forecasts indicate another above-normal North Atlantic hurricane season this year after a bumper 2020, risk modelling firm RMS says...
Pandemic fuels global broker M&A activity
21 June 2021
The COVID-19 pandemic accelerated global merger and acquisition activity among broking groups last year but the sector remains relatively fragmented, UK-based consultancy Insuramore says...
Arctic Circle location hits record high May temperature: Aon
21 June 2021
The highest May temperature ever recorded was clocked last month in Naryan-Mar, Russia, which is located in the Arctic Circle, as a number of climate records were broken, Aon’s latest Global Catastrophe Recap says...
Global insurance protection gap reaches new high
21 June 2021
The global insurance protection gap for health, mortality and natural catastrophe risks has reached a new high of $US1.4 trillion amid the pandemic crisis, Swiss Re says...
Switch to new accounting rule set to cost industry at least $19 billion
21 June 2021
The insurance industry globally will likely incur about $US15-20 billion in cumulative costs to make the transition to IFRS 17, a new accounting rule that comes into effect on January 1 2023, according to a survey of 312 insurers by Willis Towers Watson...
Aon's solution for vaccine shipments highlights IoT potential
21 June 2021
A specialised cargo insurance product launched in April by Aon for global COVID-19 vaccine shipments is a game changer for the insurance industry, according to GlobalData...
Comparators must innovate, go beyond price: GlobalData
07 June 2021
A change in UK regulation around so-called “loyalty penalties” will most impact price comparison websites and encourage them to pair with insurtechs to innovate benefits beyond price, GlobalData says...
Allianz ups coal no-go list, signs net-zero insurance alliance
07 June 2021
Allianz has outlined further measures to hasten its withdrawal from thermal coal activity for a faster reduction of greenhouse gas emissions over the next ten years...