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...
International
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...
Lloyd’s details London HQ reopening plan
29 June 2020
Lloyd’s plans to reopen its London headquarters on September 1, though significant changes will be introduced to adhere to social distancing guidelines, including reducing the capacity of the underwriting room to 45%...
Business travel cover tipped for long recovery phase
29 June 2020
Business travel insurance will lag behind the recovery trajectory of the wider travel insurance industry and will take years to return to pre-COVID-19 levels, GlobalData says...
Pool Re CEO flags benefits of wider ‘black swan’ role
29 June 2020
Pool Re CEO Julian Enoizi has flagged the benefits of expanding the UK terrorism reinsurer’s role to provide protection for other emerging risks and "black swan" events, warning the industry can’t retreat behind exclusions...
Every dollar spent on resilience saves five: Zurich
29 June 2020
Every dollar invested early to improve resilience to natural hazards helps, on average, to avoid five dollars in future losses, Zurich’s latest Risk Insights report says...
London Stock Exchange CEO to head UK regulator
29 June 2020
London Stock Exchange CEO Nikhil Rathi has been appointed to lead the UK Financial Conduct Authority for a five-year term...