insuranceNEWS.com.au - InternationalGeneral insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auUK flood funds crucial in adapting to climate change: ABIhttps://www.insurancenews.com.au/international/uk-flood-funds-crucial-in-adapting-to-climate-change-abihttps://www.insurancenews.com.au/international/uk-flood-funds-crucial-in-adapting-to-climate-change-abi<p>The UK government&rsquo;s pledge to spend &pound;7.9 billion ($16.46 billion) on flood defences over a decade has been welcomed by the Association of British Insurers...</p>Mon, 23 Jun 2025 04:40:10 GMTGlacier collapse toll tops $600 millionhttps://www.insurancenews.com.au/international/glacier-collapse-toll-tops-600-millionhttps://www.insurancenews.com.au/international/glacier-collapse-toll-tops-600-million<p>Damage from a landslide that wiped out the town of Blatten in Switzerland is estimated at 320 million Swiss francs ($604 million), an industry group says...</p>Mon, 23 Jun 2025 04:39:59 GMTBuyers’ market persists for cyber coverhttps://www.insurancenews.com.au/international/buyers-market-persists-for-cyber-coverhttps://www.insurancenews.com.au/international/buyers-market-persists-for-cyber-cover<p>Cyber insurance costs fell 7% in the first quarter and broader coverage with increased limits is now available in most markets for organisations with robust security...</p>Mon, 23 Jun 2025 04:39:44 GMTEuropean firms absorbing risk, Allianz Trade sayshttps://www.insurancenews.com.au/international/european-firms-absorbing-risk-allianz-trade-sayshttps://www.insurancenews.com.au/international/european-firms-absorbing-risk-allianz-trade-says<p>Global working capital requirements have reached the highest level since 2008, with a growing divergence between North American and European strategies, an Allianz trade credit insurance report shows...</p>Mon, 23 Jun 2025 04:39:32 GMT‘Longer, hotter heatwaves’ pose wide-ranging threathttps://www.insurancenews.com.au/international/longer-hotter-heatwaves-pose-wide-ranging-threathttps://www.insurancenews.com.au/international/longer-hotter-heatwaves-pose-wide-ranging-threat<p>The insurance industry faces a growing threat from extreme heat that increases the risk of electrical outages, wildfires and damage to infrastructure, potentially driving up property and specialty claims, according to Swiss Re...</p>Mon, 16 Jun 2025 04:27:21 GMTCourt backs cover for Russia-stranded planeshttps://www.insurancenews.com.au/international/court-backs-cover-for-russia-stranded-planeshttps://www.insurancenews.com.au/international/court-backs-cover-for-russia-stranded-planes<p>Aircraft lessors have won a court battle over war risks cover after planes worth more than $US4 billion ($6.1 billion) were stranded in Russia following the invasion of Ukraine...</p>Mon, 16 Jun 2025 04:27:07 GMTQBE joins regional rollout for building resilience projecthttps://www.insurancenews.com.au/international/qbe-backs-regional-rollout-for-building-resilience-projecthttps://www.insurancenews.com.au/international/qbe-backs-regional-rollout-for-building-resilience-project<p>The International Finance Corporation and QBE have struck a deal to extend a building resilience program in Asia and the Pacific region...</p>Mon, 16 Jun 2025 04:26:55 GMTProbe into State Farm response on LA wildfireshttps://www.insurancenews.com.au/international/probe-into-state-farm-response-on-la-wildfireshttps://www.insurancenews.com.au/international/probe-into-state-farm-response-on-la-wildfires<p>California has launched an inquiry into insurer State Farm&rsquo;s handling of claims after the Palisades and Eaton wildfires in January...</p>Mon, 16 Jun 2025 04:26:41 GMT‘A rare privilege’: Neal bids farewell to Lloyd’shttps://www.insurancenews.com.au/international/a-rare-privilege-neal-bids-farewell-to-lloyd-shttps://www.insurancenews.com.au/international/a-rare-privilege-neal-bids-farewell-to-lloyd-s<p>John Neal has commended the &ldquo;collaboration, commitment and camaraderie&rdquo; of his London market colleagues, thanking &ldquo;everyone who trusted this lowly motor underwriter to lead Lloyd&rsquo;s for almost seven years&rdquo;...</p>Mon, 02 Jun 2025 03:28:34 GMT‘Underwriting rigour’ marks mid-year renewalshttps://www.insurancenews.com.au/international/underwriting-rigour-marks-mid-year-renewalhttps://www.insurancenews.com.au/international/underwriting-rigour-marks-mid-year-renewal<p>Property catastrophe reinsurance prices at the June 1 renewals continued to moderate, according to a Howden Re update...</p>Mon, 02 Jun 2025 03:28:19 GMTTariffs, conflicts key threats to maritime industryhttps://www.insurancenews.com.au/international/tariffs-conflicts-key-threats-to-maritime-industryhttps://www.insurancenews.com.au/international/tariffs-conflicts-key-threats-to-maritime-industry<p>Geopolitical conflicts, the US-China tariff war and shadow fleets are among the key dangers facing the global maritime industry, according to an annual Allianz Commercial report...</p>Mon, 02 Jun 2025 03:28:08 GMTUK pet payouts reach record totalhttps://www.insurancenews.com.au/international/uk-pet-payouts-reach-record-totalhttps://www.insurancenews.com.au/international/uk-pet-payouts-reach-record-total<p>Pet insurance payouts by members of the Association of British Insurers rose 4% to a record &pound;1.23 billion ($2.36 billion) last year as vet fees increased sharply...</p>Mon, 02 Jun 2025 03:27:34 GMTUS tornado, hail costs to ‘reach into billions’https://www.insurancenews.com.au/international/us-tornado-hail-costs-to-reach-into-billionshttps://www.insurancenews.com.au/international/us-tornado-hail-costs-to-reach-into-billions<p>Tornados and hail in the Ohio River Valley and Midwest this month may rank among the costliest severe weather events in US history, with total economic and insured losses likely to be billions of dollars, Aon says...</p>Mon, 26 May 2025 04:17:17 GMTHowden flags opportunity for political risk underwritershttps://www.insurancenews.com.au/international/howden-flags-opportunity-for-political-risk-underwritershttps://www.insurancenews.com.au/international/howden-flags-opportunity-for-political-risk-underwriters<p>Demand for political risk insurance has surged by one-third amid trade disruption and geopolitical and macroeconomic uncertainty, Howden says...</p>Mon, 26 May 2025 04:17:08 GMTMarsh eyes booming data centre markethttps://www.insurancenews.com.au/international/marsh-eyes-booming-data-centre-markethttps://www.insurancenews.com.au/international/marsh-eyes-booming-data-centre-market<p>Marsh has launched a risk management and insurance broking service for data centre operators...</p>Mon, 26 May 2025 04:16:55 GMTHDI earnings rise despite large loss blowouthttps://www.insurancenews.com.au/international/hdi-earnings-rise-despite-large-loss-blowouthttps://www.insurancenews.com.au/international/hdi-earnings-rise-despite-large-loss-blowout<p>HDI Global says it has made a promising start to the year, with first-quarter earnings up...</p>Mon, 26 May 2025 04:16:44 GMTNext Lloyd’s boss threatens ‘blunt instruments’ in bid for disciplinehttps://www.insurancenews.com.au/international/next-lloyd-s-boss-threatens-blunt-instruments-in-bid-for-disciplinehttps://www.insurancenews.com.au/international/next-lloyd-s-boss-threatens-blunt-instruments-in-bid-for-discipline<p>Lloyd&rsquo;s chief of markets Patrick Tiernan has called for discipline as market conditions become more challenging and amid increasing examples of &ldquo;egregious&rdquo; trading behaviour...</p>Mon, 19 May 2025 04:24:52 GMTIndustry warned over cost of Trump tariff volatilityhttps://www.insurancenews.com.au/international/industry-warned-over-cost-of-trump-tariff-volatilityhttps://www.insurancenews.com.au/international/industry-warned-over-cost-of-trump-tariff-volatility<p>Actuarial group Finity has urged Australian insurers to recognise long-term supply chain impacts and market challenges stemming from the changing global trade environment...</p>Mon, 19 May 2025 04:24:32 GMTCalifornia fires dent Munich Re resulthttps://www.insurancenews.com.au/international/california-fires-dent-munich-re-resulthttps://www.insurancenews.com.au/international/california-fires-dent-munich-re-result<p>Munich Re has posted a lower first-quarter property and casualty profit after major losses exceeded expectations...</p>Mon, 19 May 2025 02:50:54 GMTBritish watchdog to ‘strip back’ rulebookhttps://www.insurancenews.com.au/international/british-watchdog-to-strip-back-rulebookhttps://www.insurancenews.com.au/international/british-watchdog-to-strip-back-rulebook<p>The UK regulator has released plans to cut outdated or duplicated requirements from its insurance rulebook, in changes aimed at lowering costs while maintaining protections...</p>Mon, 19 May 2025 02:50:46 GMT