All News articles – Page 141
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NewsABI records 48% decline in motor claims between 2020’s Q1 and Q2
Trade body the ABI reported that new motor insurance claims fell by 48% in the second quarter of 2020, reflecting the national lockdown regime that was implemented to mitigate the spread of Covid-19. Across April, May and June, the ABI recorded 324,000 new motor insurance claims compared to 678,000 claims ...
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NewsLloyd’s of London becomes target for climate campaigners as underwriting room reopens
As Lloyd’s of London reopens its underwriting room today, campaigners voiced their concerns at its doors, urging the insurance marketplace to drop insurance and investments in coal and tar sands projects. Lloyd’s of London workers were met with some climate protesters raising their concerns as they returned to work after ...
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NewsCapsicum Re to rebrand in order to align with broader broking business
Specialist reinsurance broker Capsicum Re announced today (1 September) that it will rebrand to Gallagher Re, effective from 1 October, in order to align Gallagher’s reinsurance arm with its global retail and wholesale broking operations. Gallagher’s broking and underwriting chief executive describes this change as the ‘next iteration’ of the ...
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NewsAM Best Affirms Credit Ratings of Arab Orient Insurance Company
The ratings reflect gig-Jordan’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management (ERM). The ratings also factor in rating enhancement from gig-Jordan’s parent company, Gulf Insurance Group K.S.C.P. (GIG), reflecting the strategic importance of ...
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NewsFRISS launches Insurance Is A Beautiful Thing campaign
FRISS, the leading provider of AI-powered fraud and risk solutions for P&C insurance companies, known for its creative approach toward the insurance industry, launched an international campaign to regain a feeling of pride in the insurance industry. “Because insurance is anything but boring,” says FRISS. Jeroen Morrenhof, CEO and Co-founder ...
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NewsOne Concern Forms Strategic Partnership with Sompo for Resilience Solutions in Japan
One Concern, Inc., today announced a strategic partnership with SOMPO Holdings, Inc., aimed at bringing AI-enabled resilience solutions and disaster-risk reduction technologies to Japan. The non-exclusive agreement builds upon the companies’ successful pilot project in Kumamoto City, Japan. This week marks Japan’s annual national disaster prevention day, which commemorates the ...
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NewsAustralia - Black Summer losses to reach A$5.4 billion
Insurance Council of Australia says more than 83 per cent of bushfire claims have already closed
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NewsHurricane Laura claims up to $8 billion
Cat modelling firms peg insurance losses from the Category 4 storm at between $4 billion and $8.7 billion
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NewsGallagher and Pen Underwriting swap chief operating officers
Broker Gallagher has had a senior leadership reshuffle, sending the chief operating officer for its employee benefits and HR business to subsidiary Pen Underwriting, while MGA Pen provides the newest chief operating officer for Gallagher’s UK retail division.
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NewsBriefing: Why insurance is key to economic recovery post-Covid-19
Insurance cover is a great enabler of economic activity, allowing businesses to carry out their trade, innovate and drive growth. Without that protection provided by policies, the risks for many would simply be too great. That is not to say that insurers can carry on operating in the same way ...
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NewsAlphabet’s Verily targets employer health insurance with Swiss Re partnership
Alphabet Inc’s life sciences division Verily is partnering with reinsurer Swiss Re to launch a unit to provide stop-loss insurance, a financial product purchased by employers to cover unexpected and large employee healthcare costs.
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ViewpointsHurricane Laura Losses Could Further Stress Insurers’ 2020 Earnings
AM Best expects losses from Hurricane Laura to stress its rated insurance companies’ balance sheets, which already have been weakened by the COVID-19 pandemic.
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NewsAon and Willis Towers Watson merger seals shareholder approval
Aon and Willis Towers Watson have announced that their respective shareholders have approved the merger of the two businesses at their extraordinary general meetings and at the special meeting of Willis Towers Watson shareholders ordered by the High Court of Ireland.
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NewsMarsh subsidiary Torrent Urges Congress to Extend National Flood Insurance Program
In a new report published today, Marsh subsidiary Torrent Technologies, a flood insurance technology and servicing company and direct servicing agent of the National Flood Insurance Program (NFIP), highlights the need for public and private sectors to take collaborative action now to mitigate catastrophic flood risk.
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NewsAXIS Partners With New MGA AllDigital Specialty to Launch Online Platform for Small Business Management Liability Market
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS), and AllDigital Specialty, a de novo MGA, today announced a partnership to develop and launch a new insurance platform designed to address the service void in the U.S. small private company management liability market. AllDigital ...
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NewsData leaks surge almost 500% during pandemic
12 billion records were exposed in the first half of 2020. More than the total number of records leaked during the whole of 2019
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ViewpointsBriefing: Covid-19 - a ‘manageable’ global catastrophe?
A newfound wind of confidence is in the air. The catastrophic, game-changing event to end all events – namely Covid-19 – has now been relegated to a “manageable” loss. That seems to be the growing consensus among analysts and industry consultants.
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AnalysisInsurance resilience tested by Covid-19 as global protection gap climbs to $1.24trn
Covid-19 is expected to hit global financial resilience hard, with research from Swiss Re forecasting a 20% drop in global resilience as a result of the pandemic as stimulus packages deplete economies’ fiscal and monetary headroom.
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People & OpinionLiberty Specialty Markets expands Casualty underwriting team
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed two underwriters to its Casualty team.
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People & OpinionBerkshire Hathaway Specialty Insurance Names Dr. Carsten Keune as Head of Executive & Professional Lines in Germany
Carsten has more than twenty years of industry experience. He was most recently Head of Global Commercial Lines Underwriting at ERGO.
