Insurtech investment stays above $1.7-billion mark
29 July 2019
Investors pumped $US1.41 billion into insurtechs in the June quarter, marking the fourth straight occasion where investments have exceeded $US1.2 billion...
International
Silent cyber a sleeping giant in many policies
29 July 2019
Property and casualty insurers have been warned they may be on the hook for millions in insurance payouts because they have unwittingly included cyber coverage in many policies...
UK regulator to enforce fair treatment of vulnerable consumers
29 July 2019
The UK’s finance sector regulator has begun the first stage of a consultation on plans to “guide and enforce” fair treatment of vulnerable customers – which could be as much as 50% of the British population...
Loyalty penalties dent trust in UK insurers
22 July 2019
UK consumers are more harshly marking down insurers for their treatment of loyal customers, despite the industry tackling concerns about high renewal prices...
ABI slams injury payout change
22 July 2019
A key interest rate used to calculate personal injury compensation remains at unrealistic negative levels following a reset last week, the Association of British Insurers says...
UK regulator cracks down on travel insurance exclusions
22 July 2019
The UK’s Financial Conduct Authority has proposed new rules to help consumers with pre-existing medical conditions access travel insurance...
Security spending grows as cyber losses mount
22 July 2019
Financial services companies worldwide expect to increase cyber-security investment by as much as 40% next year, Willis Towers Watson says...
Munich Re flags positive Q2, affirms full-year guidance
22 July 2019
Munich Re expects its second-quarter net profit to rise to €1 billion from €728 million a year earlier, boosted by low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years...
‘Reimagined’ Lloyd’s platform takes shape
15 July 2019
Lloyd’s is working “in earnest” on building and delivering prototypes as it revamps how it does business after six radical initiatives met enthusiastic global feedback...
European storms take heavy toll
15 July 2019
Severe weather in Europe is expected to have caused up to $US2 billion in economic damage, with insurers expecting $US830 million in claims from central Europe, Impact Forecasting’s June catastrophe recap says...
Lloyd’s makes case for smart contracts
15 July 2019
Lloyd’s is keen to explore the potential for smart contracts after a study it undertook suggested the technology could increase efficiency and add value for customers...
FM Global warns on ‘preventable’ machine failures
15 July 2019
Nearly one-third of the 232 large-risk property-related claims FM Global handled last year arose from equipment breakdowns...
Regulator prepares UK personal lines probe report
15 July 2019
The UK’s Financial Conduct Authority will release interim findings from its investigation of pricing practices in home and motor cover before September, followed by a market study by the end of the year...
Lloyd’s stands firm on strong balance sheet: Best
15 July 2019
AM Best has affirmed Lloyd’s credit ratings, reflecting a strong balance sheet and operating performance...
Markel fills key roles in Asia
15 July 2019
Specialist commercial insurer Markel International has appointed an MD and director for its Asian business, to develop its regional growth strategy...
Contractor corruption takes toll on Florida market
08 July 2019
Corrupt misuse of “assignment of benefits” practices in Florida is driving up expenses, straining the insurance market and leading to significant rate increases, according to an AM Best report...
Rates harden in cat-prone California, Florida
08 July 2019
Personal lines in the US have recorded further price rises, with the composite rate up 3.5% in the second quarter, analyst MarketScout says.
Chubb starts coal power phase-out
08 July 2019
Chubb will no longer underwrite new coal-fired plants or insure new risks for companies that generate more than 30% of revenue or energy production from coal...
Lloyd’s appoints COO, sets digital placement target
08 July 2019
Lloyd’s wants 70% of insurance risks to be placed through its electronic platform by the end of the year...
Non-business risks crucial to credit ratings
08 July 2019
Environmental, social and governance risks are becoming more significant in determining insurers’ credit ratings, Moody’s says...