15 February 2021
The UK Supreme Court’s ruling on business interruption cover will hit profits at insurers in the short-term, but it is likely to bolster insurance penetration rates at SMEs in the longer run and is far less damaging than not paying out, GlobalData says...
15 February 2021
The 50th anniversary of one of California’s deadliest earthquakes has spurred calls for action to reduce risks in the seismically active state...
15 February 2021
Low-pressure system ‘Filomena’ brought the wintriest conditions for decades to Spain in January, with severe snowfall causing multi-billion-dollar economic losses, Aon’s latest edition of its monthly Global Catastrophe Recap report says...
15 February 2021
Zurich says its property and casualty arm suffered a 28% decline in business operating profit to $US2.08 billion last year, as pandemic-related impacts and higher catastrophe losses took a toll on earnings...
15 February 2021
The British Insurance Brokers’ Association has expressed support for a government plan to look into an indemnity insurance scheme for building practitioners...
15 February 2021
US insurance consulting firm Xceedance has announced a partnership with Akur8, a Paris-based insurtech that specialises in using artificial intelligence to deliver pricing solutions to insurers...
08 February 2021
US Property and Casualty premium growth will rebound this year as a hard market in commercial lines augments growth from an economic recovery, the Insurance Information Institute and Milliman say in a new report...
08 February 2021
The UK has opened a consultation on changes to the Flood Re program that was launched in 2016 to assist property owners in high-risk areas to obtain affordable cover...
08 February 2021
Aon says the business has started the year strongly, powered by a 40% rise in fourth-quarter net income to $US524 million from the corresponding period of 2019...
08 February 2021
Chubb says early indications are promising this year after its fourth quarter net income more than doubled to $US2.42 billion, from $US1.17 billion a year earlier...
08 February 2021
A record $US11 billion of property catastrophe bond limit was placed last year, up sharply from the $US5.4 billion ($7.1 billion) achieved in 2019, according to an insurance-linked securities update from Aon...
08 February 2021
HDI Global parent Talanx has reported a 27% drop in annual net income to €673 million as pandemic-related claims and severe losses from natural disasters reduced earnings...
01 February 2021
Aon and Willis Towers Watson have stressed that having a “one firm” mindset will be key as top appointments are confirmed for the combined company after a $US30 billion merger is completed...
01 February 2021
UK insurers expect to pay out more than £1.8 billion in COVID-19 related claims for products including business interruption, the Association of British Insurers said following a Supreme Court test case judgment in favour of policyholders...
01 February 2021
Hurricanes, floods, hailstorms and other severe weather-related events made up more than 90% of the $US268 billion in natural peril losses last year, an annual review from Aon says...
01 February 2021
US broker Gallagher has recorded higher earnings, as hardening rates cushioned the business from the economic disruption of COVID-19...
01 February 2021
Marsh & McLennan says fourth quarter revenue from its risk and insurance services, made up of broker Marsh and reinsurance broker Guy Carpenter, increased 6% to $US2.53 billion from a year earlier...
01 February 2021
Insurtechs raised $US2.1 billion in capital during the December quarter, taking the investments received globally last year to a record $US7.1 billion from 377 deals, Willis Towers Watson says in a quarterly report...
01 February 2021
The UK Financial Conduct Authority is seeking feedback on proposals to place a cap on fees that claims management companies charge for helping their customers to seek redress...
01 February 2021
A Willis Towers Watson survey on reputational risk has found 86% of clients fear revenues will be impacted by negative publicity, and less than half say they have adequate tools to manage and monitor potentially damaging comments in the public domain, particularly in social media channels...