All News articles – Page 131
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AnalysisFirms must build more resilient workforces
COVID-19 has created a new urgency to protect working people, with compulsory unemployment insurance a much-needed safety net - research
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NewsCOVID-19 Adds to Challenges for Bahrain’s Fragmented Insurance Market
COVID-19-driven financial market volatility is expected to negatively impact solvency levels of Bahraini insurers this year, according to a new AM Best special report, adding to the challenges faced by the kingdom’s (re)insurance sector — the smallest among the Gulf Cooperation Council (GCC) countries.
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NewsSompo International Expands Management Assurance Policy to Include D&O Insurance for Public Companies
Sompo International Holdings today announced a new Directors and Officers Liability (“D&O”) insurance policy form for publicly traded companies. Supported by a growing team of experienced underwriting and claims professionals and backed by excellent financial strength, Sompo International continues to be a trusted insurance partner for publicly traded companies in ...
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NewsHurricane Delta rips through Cancun, but damage less than feared
Tourists in Mexico’s top Caribbean resort Cancun picked their way through battered streets, broken glass and trees downed by Hurricane Delta on Wednesday, though damage was less severe than some feared as the storm tore across the Yucatan peninsula.
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NewsWEF: Unemployment is world’s biggest risk, business leaders say
Unemployment is the main concern for business executives globally, with fiscal crisis — the top concern in 2019 — coming third, according to the World Economic Forum’s interactive map on Regional Risks for Doing Business 2020. Infectious diseases progressed 28 spots and is the second most recurring risk, appearing in ...
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NewsMarkel consolidates all property CAT reinsurance business under Nephila
Markel Corporation (NYSE: MKL) announced today that it is creating one center of expertise for the global property catastrophe (CAT) reinsurance market by closing its Markel Global Reinsurance property CAT unit and having Nephila become Markel’s single point of entry for serving the property CAT reinsurance market.
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NewsLondon company market premium grows by 10%
Premium income for the London company market grew by 10% last year with £21.436bn of large commercial and wholesale risks underwritten by firms in the City. A new report from the International Underwriting Association’s also shows a further £6.197bn was written in other offices outside of London but overseen and ...
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NewsBest’s Commentary: Hurricane Delta Likely to Exacerbate Mexico Insurers’ COVID-19-Disrupted Claims Handling
AM Best expects insurance companies operating in Mexico to withstand the impact of Hurricane Delta because of their strong reinsurance programs, although claims management could be a challenge given restrictions on mobility already hampered by the COVID-19 pandemic. In a new Best’s Commentary, “Hurricane Delta Makes First Landfall in Yucatan ...
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NewsHedge funds make pandemic bet on insurance
Five years after London-based hedge fund Toscafund ditched the shares it held in insurance companies, the $3.5 billion firm and its peers are flocking back, drawn by sharp premium increases which are lifting the sector’s post-coronavirus prospects.
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ViewpointsFuture of insurance: Rise of parametric covers
Special edition: Future of business. In The Future of Business series, sister title StrategicRISK, in association with Swiss Re Corporate Solutions, look at the scale of change in the industries that are driving real innovation and shaping the future of business, and consider the impact from a risk and insurance ...
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AnalysisBriefing: Why aggressive FCA will next turn to commercial insurance
The FCA is intently focused on value. It’s agenda will lead to a fresh look at commercial insurance
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People & OpinionSCOR Reinsurance Asia-Pacific appoints Hitesh Shah as an independent non-executive director
Hitesh Shah was appointed an Independent Non-Executive Director of SCOR Reinsurance Asia-Pacific Pte Ltd (SRAP) on August 20, 2020. Hitesh joins the SRAP board alongside existing independent non-executive directors, Eric Raynaud and Andre Chieng and he will Chair the Audit and Risk Committee.
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News360Globalnet boss says no code technology is ‘next big thing’ for insurance
The insurtech’s chief executive, Paul Stanley tells Insurance Times why no code technology is going to be the ’next big thing’ in insurance and reveals how the technology’s flexibility allowed 360Globalnet to build its own Track and Trace System
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NewsABI signs Race at Work Charter as it launches new two-year inclusion strategy
Around 32 of the association’s insurer members have also committed to the Race at Work Charter
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NewsGE receives notice from U.S. regulator of possible civil action
General Electric said on Tuesday it has received a notice from U.S. Securities and Exchange Commission staff, warning that the company could face a civil action for possible violations of securities laws related to accounting practices for some of its insurance holdings.
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NewsAon announces launch of new solution to create greater access to capital based on the value of an organisation’s IP portfolio
Aon, today announced, the launch of its Intellectual Property (IP) Capital Market Solution along with the close of a significant IP-backed lending transaction worth over $100 million, believed to be the largest such transaction ever consummated. “Aon is committed to helping clients navigate an increasingly complex world. The launch ...
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NewsQBE on track to reach robotics milestone of 30,000 claims tasks processed a week
By the end of this year, QBE will have 45 ‘robots’ in place completing 30,000 tasks a week across its European division. This is twice the number of robotics-facilitated tasks completed on a weekly basis at the end of 2019 and an increase of 15 ‘robots’. The ‘robots’ are created ...
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NewsSCOR: How can (re)insurers lead the way on climate change action?
Michèle Lacroix, Head of SCOR’s Group Investment Office: How to include sustainability in investment decisions? Financial markets are leading the way in the sustainability journey. Stringent regulation over the last five years has meant that CSR and ESG are now common acronyms, with Environmental, Social and Governance being the ...
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People & OpinionCovéa appoints new Managing Director for Personal Lines & Protection
Covéa Insurance is pleased to announce the appointment of James Gearey to the position of Managing Director, Personal Lines & Protection. In his new role, James will be accountable for all the company’s consumer-focused products, including Motor, Home, Pet, Income Protection, Personal Accident and Life insurance. In addition, he ...
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NewsCovid-19 is changing claims trends and risk exposures, according to new Allianz Report
Traditional property and liability claims have been subdued during lockdowns but this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry. Impact of the pandemic will shape future loss trends for companies in the mid- and long-term with changes ...
