All Insurers articles
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NewsZurich, Allianz both report double-digit Q1 growth in P&C revenues
Top line property and casualty growth at both groups was driven by commercial insurance pricing rises: North America powered Zurich’s revenues; and Allianz singled out Germany and Turkey as sources of growth.
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NewsInsurers brace for claims as CO2 shortage hits meat, beer and fizzy drinks supply chain
Insurers could be bracing for claims due to the soaring price of carbon dioxide (CO2) that has subsequently impacts the production and supply chain for meat, beer and fizzy drinks.
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NewsInsurers ‘bullish’ about London’s future post Brexit
Technology and automation are ‘top strategic’ priorities but more complex regulations remain a challenge
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NewsInsurers have paid more than £875m in interim and final BI payments this year
Since the Supreme Court’s decision in January for the FCA’s test case around Covid-19-related business interruption (BI) claims, a total of £875,489,994 has been paid out by insurers for either interim or final BI claims payments across 23,933 claims, according to updated data published by the FCA yesterday (13 July ...
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NewsInsurers are making demands of 40-year-old buildings after Surfside condo collapse
The deadly collapse of the 136-unit high rise has spooked an industry that had already considered older condos on the coast — with their hurricane exposure, their common ownership structure and reputation for delaying maintenance — a high risk, experts say.
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NewsBoE launches climate stress test for banks, insurers
It will provide central banks and supervisors globally with a common starting point for analysing climate risks under different scenarios
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NewsAs Tesla takes the plunge, wary insurers watch crypto craze from the sidelines
If Elon Musk’s Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck.
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NewsReuters: EU system needed for dealing with failing insurers, EU official says
A new mechanism for shutting failing insurers smoothly could help maintain trust in the sector as part of a review of capital rules that is unlikely to come into effect before 2025, European Commission officials said on Tuesday.
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NewsReuters: Brexit won’t mean lower capital buffers for insurers, says Bank of England
A review of the UK’s insurance capital rules will not lead to any “radical departure” or a reduction in requirements, but it will take time to complete, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain’s exit from the European Union has prompted the government to review insurance ...
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NewsBank of England rules out big capital reduction for insurers after Brexit
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill for COVID-19 claims.
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NewsCyber insurers see ‘strong growth’ for coverage after spate of online scams amid lockdown
Despite this, insurers must have adequate capacity to cover evolving cyber fraud
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NewsAM Best: UK Commercial Property Insurers Looking Beyond Difficult 2020
Disputes around non-damage business interruption (BI) cover, which made 2020 a difficult year for U.K. commercial property insurers, should subside in 2021.
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NewsFCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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NewsInsurers complicit in ransomware rise - warning
Insurers are inadvertently funding organised crime by covering ransom payments, says former NCSC chief
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NewsLloyd’s offers AI-enabled reputational risk cover
A group of Lloyd’s insurers are providing artificial intelligence-enabled tools to help policyholders control their corporate brand and reputation more effectively.
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NewsPay business insurance claims or face enforcement, UK watchdog says
Insurers face enforcement action if they don’t pay up as soon as possible on business insurance claims following a landmark court ruling, Britain’s Financial Conduct Authority said on Friday.
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News‘The biggest risk for insurers is reputation’ says Aviva’s Blanc
The insurer boss adds that the industry’s reputational damage arising from the business interruption test case has left her feeling ‘very sad’ and that the industry needs to ‘not shoot ourselves in the foot as much as we do’
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NewsInsurers are trying to escape COVID-19 liability, watchdog tells UK Supreme Court
Tuesday’s hearing focused on how insurance law clauses, such as a so-called “but for” test, disease, composite peril, prevention of access and trends, should be applied in the case.
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NewsUK businesses not covered for pandemic, insurers tell Supreme Court
Major insurance companies told the UK Supreme Court on Monday that thousands of small companies battered by the coronavirus pandemic were not eligible for business interruption payouts and to suggest differently was “reverse engineering”.
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NewsBank of England warns insurers risk unexpected COVID losses
Insurers in Britain risk being optimistic in estimating losses from COVID-19 related claims and should stress test their underlying assumptions, the Bank of England said on Friday.
