Global supply chain rejig ‘a bonanza for insurance’
14 September 2020
A restructuring of global supply chains will boost global insurance earnings by around $US63 billion over five years, Swiss Re estimates...
International
‘Growing list’ of BI court rulings back US insurers
07 September 2020
A growing number of US court decisions are coming down on the side of insurers in disputes over coronavirus-related business interruption cover, the Insurance Information Institute says...
Big houses ‘main driver of rising hurricane bills’
07 September 2020
US hurricane seasons are costlier than before because more Americans are living in coastal states and building bigger and more expensive homes, the Insurance Information Institute says...
Lloyd’s reopens London Underwriting Room
07 September 2020
Lloyd’s has reopened its London Underwriting Room, with daily capacity reduced to 45%, face masks mandatory in common areas and social distancing rules in place...
AM Best says hardening rates offset COVID for reinsurers
07 September 2020
Hardening pricing conditions are creating opportunities for insurers, while catastrophe, specialty lines and some US casualty lines have been showing improvements in pricing and coverage terms, AM Best says...
Coming decade a ‘game changer’ for cyber insurance: S&P
07 September 2020
The next decade will be the most important period of growth for the cyber insurance market as rapid digital transformation brought on by the COVID-19 pandemic increases vulnerabilities to attacks, S&P says...
COVID-19 sets stage for bigger insurance role in social welfare
07 September 2020
The post-COVID-19 environment is fertile ground for insurers to find new ways to team with the public sector and help mitigate social inequality, insurance think-tank The Geneva Association says...
Hurricane Laura smashes US Gulf Coast
31 August 2020
Hurricane Laura destroyed buildings and killed at least 15 people in the southern US, after becoming the strongest system to cross the Louisiana coastline in more than 150 years on Thursday...
Moody’s sees California fire losses ‘in the billions’
31 August 2020
California’s wildfires are likely to trigger insured losses in “in the billions of dollars”, Moody’s Investors Service estimates...
Aon, Willis Towers Watson merger clears shareholder hurdle
31 August 2020
Aon is a step closer to completing its takeover of rival Willis Towers Watson after shareholders in the broking giants voted for the deal last week at their respective extraordinary general meetings...
COVID will widen protection gap: Swiss Re
31 August 2020
The insurance protection gap globally rose to a record $US1.24 trillion last year and is set to worsen further because of the pandemic, Swiss Re says in a new Sigma report...
Liberty sees strong demand for M&A cover
31 August 2020
Demand for mergers & acquisition insurance has risen despite the COVID-19 pandemic affecting regional deal activity in the second quarter, Liberty Global Transaction Solutions says...
US insurers win BI court rulings as more battles loom
24 August 2020
US court rulings in three jurisdictions have backed insurers in denying COVID-19 business interruption claims due to a lack of physical damage, as more cases are set to come forward...
Californians told insurance may cover fire evacuation costs
24 August 2020
Thousands of residents across California who have been ordered to evacuate due to wildfires may be eligible for cost reimbursement from their insurance company, Insurance Commissioner Ricardo Lara says...
Insurance M&A outlook stark due to ‘plague of uncertainty’
24 August 2020
The number of insurance industry mergers and acquisitions in the Asia Pacific region jumped 22% in the first half of 2020, with six completed in Australia, though coming months will be “stark,” law firm Clyde & Co says...
Heavyweights to join Aon for online renewal ‘chats’
24 August 2020
The top leaders at Aon and Aon Re, including the group’s President Eric Anderson, are inviting registrations for a series of live online “fireside chats” it has scheduled with the industry’s most senior executives ahead of January reinsurance renewals...
US flood insurance cover ‘not assured’ after September
24 August 2020
An extension of the US National Flood Insurance Program, the country’s main source of flood insurance, is not assured after it expires at the end of next month, Marsh subsidiary Torrent Technologies says...
Insurance industry’s image reaches new lows
17 August 2020
Media stories about insurers not paying out COVID-19-related claims sent sentiment toward the sector to new lows in March and April and could cause lasting damage, industrial analyst GlobalData says...
Shareholder advisers back Aon, WTW takeover deal
17 August 2020
Aon’s proposed takeover of rival broker Willis Towers Watson has won the support of two key shareholder proxy advisory firms ahead of a vote next week...
Tornadoes, floods, hail cause 49% jump in insured losses
17 August 2020
Natural catastrophes globally resulted in $US28 billion in insured losses in the first half, up 49% from a year earlier, according to Swiss Re...