Motor, property lead US commercial rate rises
16 July 2018
US commercial motor rates recorded the largest rise by line in the second quarter at 6%, followed by commercial property at 4%, industry analyst MarketScout says…
International
Earnings volatility drives reinsurance decisions
16 July 2018
Reinsurance is increasingly important as a tool for reducing earnings volatility, as investors pressure insurers to meet profitability targets, a Willis Towers Watson survey finds…
Japanese insurers set to ride out flood claims
16 July 2018
Japan’s general insurers will not be significantly affected by the worst floods to hit the country in more than 30 years, Moody’s says…
Thunderstorms cost US insurers $4 billion
16 July 2018
Eight spells of severe thunderstorms last month left US insurers with a bill exceeding $US3 billion, Impact Forecasting says in its monthly catastrophe recap…
Friederike tops first-half cat losses
16 July 2018
Insurers sustained losses of $US2.1 billion from Storm Friederike, making it the industry’s most costly natural disaster in the first half of the year, Munich Re says…
ABI demands better Brexit deal
16 July 2018
The Association of British Insurers has urged the UK Government to negotiate a better Brexit outcome, following a white paper on its future relationship with the European Union…
Swiss Re places $472 million cat bond
16 July 2018
Swiss Re has structured and placed a $US350 million catastrophe bond for Frontline Insurance the largest catastrophe bond for a Florida insurer since 2014…
P&C premium rise outpaces global growth
09 July 2018
Property and casualty premiums rose 2.8% to $US2.2 trillion last year, Swiss Re says in its latest Sigma study…
UK insurance industry backs inclusion pledge
09 July 2018
Lloyd’s and 49 other insurance firms and trade bodies operating in the UK have become founding signatories to an Inclusive Behaviours Pledge that promotes diversity across the industry…
Swiss Re steps away from coal-linked businesses
09 July 2018
Swiss Re has stopped providing insurance and reinsurance to coal-aligned businesses as part of a broader initiative to support the Paris climate action plan aimed at reducing carbon emissions…
Cancellations drive UK travel claims payout to 7-year high
09 July 2018
UK insurers paid out £385 million in travel claims last year, the biggest amount since 2010 when the Icelandic ash cloud cost the industry £455 million…
Insurers ‘shouldn’t rush’ chatbots
09 July 2018
Insurers need to move carefully when implementing chatbot technology for their customer experience, EY says…
Lloyd’s CEO announces her exit plan
02 July 2018
Lloyd’s CEO Inga Beale, the first woman to lead the organisation and a campaigner for diversity across the global insurance industry, will step down next year…
Britain pilots ‘signpost service’ for travel specialists
02 July 2018
The UK’s Financial Conduct Authority will pilot a service that directs people with pre-existing health conditions to willing travel insurance providers…
US pool ‘should withhold cover’ on flood-zone construction
02 July 2018
The US National Flood Insurance Program has been urged to withhold federal insurance for new properties built in flood zones…
Volcanic ash model reveals threat to Japan
02 July 2018
Guy Carpenter has built a fully probabilistic ash-fall model for six volcanoes in Japan…
Swiss Re hails environmental investment push
02 July 2018
Swiss Re says its environmental, social and governance benchmarks, introduced last year, are now being applied to almost the entire investment portfolio…
FM Global research reveals value of mitigation work
02 July 2018
Every $US1 a business spends on hurricane mitigation cuts loss exposure by an average of $US105, according to an analysis by FM Global…
UK’s Flood Re scheme set to reduce premiums
02 July 2018
The United Kingdom’s flood reinsurance scheme Flood Re will reduce premiums charged to insurers from next year…
Buyer’s market persists despite cat losses: RIMS
02 July 2018
Price reductions in property cover, liability, workers’ compensation and other lines combined to push down the average cost of risk by 3% last year, new data shows…