Overhaul cyber insurance wording to get on the same page
27 July 2020
The pandemic has underscored the importance of clear and consistent cyber policy wording, according to a new research paper...
International
New Lloyd’s syndicate to insure COVID-19 vaccine shipments
27 July 2020
Lloyd’s has approved a new syndicate to offer insurance for the storage and transportation of COVID-19 vaccine to emerging economies when it becomes available...
Pandemic seen as an opportunity to reinvent operations
27 July 2020
Every business needs to accept new ways of operating after COVID-19, creating “tremendous opportunity” for transformation at businesses which are prepared and act astutely, according to a leading US risk management expert...
UK business interruption test court case begins
20 July 2020
The UK business interruption test case starts in the High Court in London today with the Financial Conduct Authority taking the side of policyholders in opening submissions...
Investors see insurance as attractive amid COVID chaos
20 July 2020
Institutional investors in search of better returns are looking to park more of their funds in the insurance industry, according to an AM Best report, citing the recent capital-raising actions made by QBE and other major insurers such as StarStone Insurance...
Pandemic tosses up new pressures for reinsurers
20 July 2020
The reinsurance sector is facing “a whole new layer of uncertainty” created by the pandemic, Aon says in its latest June/July market outlook...
Parametrics ‘an answer for pandemics’
20 July 2020
Verisk’s Property Claim Services business says the COVID-19 outbreak should be approached as an opportunity to develop parametric insurance arrangements for future pandemics...
S&P warns of heightened risks from coronavirus second wave
20 July 2020
A COVID-19 second wave could eat into insurers’ capital and increase risks from rising claims, S&P Global says...
Shipping industry faces ‘unprecedented risks’ from pandemic
20 July 2020
The global shipping industry faces several potential knock-on effects from the pandemic, an annual review from Allianz Global Corporate and Specialty has warned...
Insurance will outperform with V-shaped recovery: Swiss Re
13 July 2020
Global insurance premium volumes will recover to pre COVID-19 crisis levels next year, underpinned by a strong rebound in China and other emerging economies, Swiss Re says...
UK action on loyalty penalties 'benefitting millions'
13 July 2020
UK insurers and brokers say industry action to prevent loyal customers being disadvantaged by renewal pricing increases is delivering improved results for long-term policyholders...
Chubb wants government-backed BI 'before the next pandemic'
13 July 2020
Global insurer Chubb wants a business interruption facility backed by US Government reinsurance that would be similar to terrorism measures introduced after the 9/11 attacks...
June weather pushes up global catastrophes bill
13 July 2020
A June 13 hailstorm in the Calgary metro region is one of Canada’s most expensive thunderstorm-related events on record, Aon’s Global Catastrophe Recap report says...
Chubb flags $2 billion hit from virus claims
13 July 2020
Chubb has warned of a $US1.37 billion hit in pre-tax pandemic losses ahead of the release of its second quarter financial results later this month on July 28...
COVID-19 boosts usage-based insurance popularity
06 July 2020
Usage-based insurance has been given a popularity bump by the COVID-19 pandemic as social distancing and lockdowns see car owners drive much less...
UK insurers explain how grants impact BI claims
06 July 2020
The Association of British Insurers has rejected accusations that the industry is trying to use the UK Government’s pandemic financial grants as a subsidy to avoid paying business interruption claims...
Wimbledon won’t get pandemic cover renewed
06 July 2020
Organisers of major events are unlikely to be able to secure pandemic cover for business interruption in the immediate future, making sporting tournaments and other events extremely risky for organisers until a vaccine is available, GlobalData says...
Lloyd’s taps insurtechs for pandemic solutions
06 July 2020
Three insurtechs focused on pandemic-related solutions and products have joined Lloyd’s incubator program for promising digital start-ups...
Allianz arm embarks on turnaround plan
06 July 2020
Allianz Global Corporate & Specialty, the industrial insurer of Allianz Group, has set out on a "comprehensive transformation" program to turn around its business by 2024...
2020 could be most expensive loss year
29 June 2020
COVID-19 is shaping up to rank among the reinsurance sector’s most expensive events, and this year could bring record annual losses in the sector if other events compound large claims from the pandemic, Guy Carpenter says...