All News articles – Page 129
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NewsAM Best assigns stable outlook to Indonesia’s Non-Life Insurance Market
Despite a bleak macroeconomic picture, Indonesia’s non-life insurance market is well-diversified and underpinned by solid capitalisation, supporting a stable outlook assigned to the segment, according to a new AM Best report.
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NewsEU insurance watchdog calls for more power after dividend divide
The European Union’s insurance watchdog called for extra powers to ensure fair competition after it failed to impose a common approach to suspending dividends during the COVID-19 pandemic. Gabriel Bernardino, chair of the European Insurance and Occupational Pensions Authority (EIOPA) said insurers have relatively robust capital buffers, but it had ...
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NewsMunich Re Specialty Insurance announces the appointment of Elizabeth Kramer as Chief Underwriting Officer
Munich Re Specialty Insurance announced today the appointment of Elizabeth Kramer as the Chief Underwriting Officer. Kramer will report to Mike Kerner, Chief Executive Officer, Munich Re Specialty Insurance. In this role, Kramer will oversee the underwriting strategy and execution as Munich Re Specialty Insurance continues to grow and diversify ...
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People & OpinionBerkshire Hathaway Specialty Insurance names Louise Kidd Head of Third Party Lines in Ireland
Berkshire Hathaway Specialty Insurance (BHSI) today announced that Louise Kidd has joined its growing European team as Head of Third Party Lines in Ireland. “As our Irish team continues to expand, we are delighted to have Louise leading our efforts to bring proven underwriting acumen and service to the third-party ...
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NewsLockton to Roll Out CyberCube’s Broking Manager
Lockton, the world’s largest independent broker, is rolling out CyberCube’s Broking Manager, the cyber risks analytics platform for insurance intermediaries. The business has over 100 offices in over 125 countries. CyberCube has designed and tailored Broking Manager specifically to the needs of the insurance broking community. It offers a streamlined ...
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ViewpointsLloyd’s sets out recommendations for building simpler insurance products in response to COVID-19
Lloyd’s today published a new report, Building simpler insurance products to better protect customers, which sets out a number of ways the global insurance industry could remove complexity and provide enhanced coverage clarity for their customers.
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NewsFERMA: Trust with insurers has been eroded
Service quality and relationships are being deteriorated as the commercial insurance market hardens, say panellists
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NewsFirst Spanish Insurer uses AI to assess vehicle damage
For the first time, an insurer in Spain – Admiral Seguros, the Spanish subsidiary of global insurer Admiral - is using Artificial Intelligence (AI) to create damage valuations and to generate an offer of immediate payment on damaged vehicles. To do this, Admiral Seguros is using an AI solution, ...
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NewsFERMA’s Wegener predicts “new era for risk management”
Dirk Wegener said the COVID-crisis has demonstrated the value of the risk profession - FERMA Seminar 2020
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NewsMental health: QBE research reveals employee mistrust
One in four UK employees are hiding mental health challenges from their employers, finds QBE
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NewsInsurance industry takes ‘more holistic view’ to preservation of the building versus life
Using timber within construction is a greener solution for the environment, despite it being combustible and - in turn - higher risk. However, since the insurance industry is now taking a ’more holistic view’, should it also start thinking ‘out of the box’ to address these risks?
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NewsMost insurance CFOs planning to automate 5-20% of finance controls – EY
Automating financial controls could save insurers money and make room for more complex tasks, says EY
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NewsInsured loss from Delta projected to run at $2billion
Storm-weary coastal Louisiana residents who fled from the path of Hurricane Delta in recent days streamed back to their homes on Sunday to face cleanup and repairs from the second hurricane to batter their state over the past six weeks. Insured losses from Delta were projected to run to $2 ...
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NewsReuters: As the world races into vaccine trials, insurers remain unfazed
The world is racing towards a vaccine in record time, stirring public concerns about safety to the extent that nine leading developers have felt compelled to issue a pledge to uphold scientific standards and testing rigour. Yet, while more than 40 experimental COVID-19 vaccines are being tested on humans, the ...
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NewsArgoGlobal announces agreement on RITC transaction with RiverStone
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, today announced a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone. Upon completion of the transaction, RiverStone will undertake an RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net technical provisions of £356 million.
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NewsSwiss Re and Daimler launch new company Movinx to transform automotive and mobility insurance business
Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called Movinx. Both shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model. The aim is to develop fully digital automotive ...
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People & OpinionChubb appoints Nandini Mani to lead claims for international general insurance business
Chubb announced today that Nandini Mani has been appointed Executive Vice President, Claims for Overseas General Insurance, the company’s international general insurance business in 51 countries and territories.
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NewsZurich expands corporate travel insurance proposition
Zurich is expanding its business travel product and services. The enhanced offering includes a larger international servicing network, broader insurance coverage and new capabilities to support travelers and risk managers through technology.
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AnalysisSwiss Re: Re/insurance in the Middle East and Pakistan: annual outlook and review 2020
Coronavirus has transformed the outlook for the economies and insurance industry in the Middle East and Pakistan, with recession expected this year. We expect the economic recovery to start in mid-2021, although downside risks include a resurgence in COVID-19 cases, new government lockdown measures, lower-for-longer oil prices and a low ...
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NewsUnited States Olympic and Paralympic Committee (USOPC) suing insurers for holding up Nassar settlement talks
The United States Olympic and Paralympic Committee (USOPC) said on Friday it has filed a lawsuit against its insurance providers for failing to fulfill obligations in reaching a settlement with survivors of the Larry Nassar sexual abuse scandal. The USOPC is suing 11 insurers, including units of Chubb Ltd and ...
