All News articles – Page 126
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NewsBoE: Climate disclosures will become mandatory
Setting out pathways to mandatory TCFD disclosures should be a “priority” for public authorities, according to the Bank of England
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NewsWide area damage principle is key to quantifying BI claims
An uptick in COVID-related BI claims is expected following the UK FCA test case, primarily from the hospitality sector
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NewsCOVID-19 a “wake-up call”
Pandemic highlights the ”staggering potential” for uninsurable systemic risks, according to re/insurer Munich Re
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NewsApril Queensland hailstorm claims reach A$604m
The largest hail impact was recorded in Rockhampton and Yeppoon, where the storms caused extensive damage
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NewsTerrorism pools focus on systemic risk
New and emerging threats in the terrorism landscape, including the emerging CBRN threat and hostile cyber, were discussed during the virtual event
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NewsBerkshire Hathaway Specialty Insurance Introduces D&O Liability and Professional Indemnity Policies in Dubai
Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has finalized proprietary Directors & Officers (D&O) Liability and Professional Indemnity (PI) policy wordings for customers in the UAE and throughout the Middle East.
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NewsReuters: Telefonica to team up with Allianz for €5 billion investment in Germany: Expansion
Spanish telecom giant Telefonica is readying an alliance with the private equity arm of German insurer Allianz to finance a 5 billion euro infrastructure investment in Germany, Spanish newspaper Expansion said on Monday.
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NewsUK: Telematics policies fall in lockdown
A perfect storm of cancelled driving tests, the challenges of black box installation during lockdown and a push by pay-as-you-drive providers meant that telematics providers were arguably worse affected by Covid-19 measures.
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People & OpinionTony Rooke joins Willis Towers Watson’s Climate and Resilience Hub as Director of Climate Transition Risk
Willis Towers Watson has announced the appointment of Tony Rooke as Director of Climate Transition Risk in the organisation’s Climate and Resilience Hub (CRH). With many Government’s announcing net-zero carbon targets to align with the Paris Agreement, and financial regulators and investors demanding more climate disclosures, companies need strategic advice ...
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NewsAsia Pacific health care benefit cost increases expected to jump by 8.5% in 2021, Willis Towers Watson survey finds
Employer-sponsored health care benefit costs are expected to increase by 8.5% in Asia Pacific (APAC) in 2021 following a year in which the COVID-19 pandemic has had a significant impact on health care utilisation and overall costs, according to a survey of medical insurers by Willis Towers Watson (NASDAQ: WLTW), ...
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NewsE+S Rück expects rising prices and improved conditions in 2021 for P&C reinsurance in Germany
E+S Rückversicherung AG – the Hannover Re subsidiary responsible for the Group’s German business – expects rising prices and improved conditions overall for the coming year in property and casualty reinsurance on the German market. Demand for reinsurance coverage from financially robust providers will continue to grow against the backdrop ...
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NewsDARAG announces the sale of non-legacy Italian business to NOBIS
DARAG has announced that it has reached an agreement with NOBIS Compagnia di Assicurazioni (“NOBIS”) for the sale of the Going Concern business from DARAG Italia S.p.A. The transaction is subject to regulatory approval. The sale of the active underwriting business will streamline DARAG’s operations and enable the Group to ...
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NewsMunich Re expects further hardening of markets
Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates – likely to remain even lower for even longer due to the coronavirus pandemic – are impacting the profitability of reinsurers. Insurance covers are therefore likely to become more expensive, ...
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NewsFCA proposes new measures for vulnerable customers in wake of Covid-19
The FCA has published new guidance on how insurers and brokers should be helping customers facing financial difficulties in the wake of the Covid-19 pandemic.
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NewsMoody’s affirms Hyperion debt rating in wake of A-Plan deal
Moody’s has also assigned B2 ratings to the new £475 million guaranteed senior secured term loan facility being issued by Hyperion Refinance, and the £125 million guaranteed senior secured revolving credit facility being extended to September 2024 by HIG. The outlooks on all issuers are stable.
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NewsRSA chairman Martin Scicluna to step down next year
RSA chairman Martin Scicluna is to step down next year, according to reports on Sky News.
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NewsJohn Lewis teams up with Munich Re’s Digital Partners, Sedgwick and ICE InsureTech for home insurance proposition
The high-end retail giant hopes to deliver a new home insurance product early next year targeted at a wider customer base as a result of the partnership
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NewsICO fines British Airways £20m for data breach
It is the Information Commissioner’s biggest data breach fine to date and falls under the GDPR regime
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NewsCherry-picking systemic risks is ‘a path to run-off’ for insurers
The insurance industry runs the risk of irrelevance if it chooses to take only the easy-to-manage parts of the systemic risks facing its customers, according to a panelist at a terrorism insurance conference.
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News‘Share pandemic risk coverage’, urges Marsh chief exec
Marsh boss calls for creative solutions to mitigate future pandemics and other shock events
