All News articles – Page 143
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NewsSompo Global Risk, Marsh & McLennan Launch Commercial Real Estate Market Product
Marsh & McLennan Agency LLC (MMA) and Sompo Global Risk Solutions (GRS) have launched a new customizable insurance product designed to help commercial real estate owners control costs, streamline policy administration and address potential gaps in coverage.
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NewsARIG: Cessation of activities
The Extraordinary General Meeting (EGM) of Arab Insurance Group (ARIG), held on 13 August 2020, approved the decision of the Board of Directors to cease the company’s reinsurance activities.
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NewsTesla is to expand its insurance business in to China
Tesla is gradually starting to expand its insurance business outside of California — starting with a new business unit in China. Last year, Tesla launched its own insurance program, starting with availability in California, where the automaker claims up to 30% cheaper premiums than the competition. It’s Tesla’s second entry ...
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NewsChina’s economic recovery makes it attractive but presents challenges to foreign insurers, says GlobalData
China has emerged as the first country globally to post positive economic growth during the COVID-19 pandemic. The country is also expected to witness continued expansion of life and non-life insurance making it an attractive market for foreign insurers.
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NewsInsurtech deals drop by 80% globally but Lloyd’s Lab still innovating
The total value of global startups and deals plummeted by 80% in 2020. However, Lloyd’s Lab demonstrates hope that there is still innovation in the sector, with the fifth insurtech cohort focusing on pandemic solutions for the insurance industry.
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NewsTeladoc’s $18.5B deal with Livongo may spur more digital health M&A
Teladoc Health Inc.’s $18.5 billion merger with Livongo Health Inc. is likely to spark further M&A activity in virtual care and telemedicine as the coronavirus pandemic continues to push patients and providers online.
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NewsJackson/Athene reinsurance deal weighs heavily on US life industry net premiums
Economic and operational challenges from COVID-19 did not represent the lone extraordinary item encountered by the U.S. life insurance industry in the second quarter. Statutory results for the period will also reflect the significant effects of a reinsurance agreement between Jackson National Life Insurance Co. and Athene Holding Ltd.’s Athene ...
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NewsInsurtech MGA Equipsme oversubscribed in crowdfunding during pandemic
The insurtech decided to crowdfund as it wanted control over its own destiny during the pandemic, and it has been oversubscribed in its crowdfunding and seen a surge in customers since March
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NewsAon urges the re/insurance industry to bring capital closer to clients’ needs as the firm launches its Virtual Reinsurance Renewal Season
Aon today launches its Virtual Reinsurance Renewal season, calling for the re/insurance industry to collaborate to bring capital closer to clients’ needs and drive growth across the global insurance ecosystem.
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NewsAllianz Benelux and Monument Re Announce Closed Book Portfolio Transaction
Allianz Benelux (Belgium) and Monument Re have agreed today to transfer a closed book of classical life retail insurances together with 4.500 mortgage loans to Monument Assurance Belgium (MAB) and to transfer the related operations within 18 months after regulatory approvals.
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NewsFrom Africa to America, businesses and insurers face survival showdowns
Businesses around the world, hamstrung by lockdowns, are facing often-existential showdowns with insurance companies that are reluctant to pay out on business interruption policy claims for a disaster unknown in living memory. The insurers say many such policies exclude pandemics, require physical damage on premises or do not apply to ...
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NewsQBE gives back over £10 million to motor fleet customers affected by lockdown
QBE has rebated £10.6 million in motor premiums to date to their motor fleet customers who have taken vehicles out of service during the Covid-19 pandemic.
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NewsNexus combines acquired trade credit brokers under single Xenia brand
Xenia is aiming to become the world’s leading trade credit distributor
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NewsHurricane Isaias claims up to $5 billion - RMS
Isaias was the ninth named storm of the 2020 North Atlantic hurricane season, affecting parts of the Caribbean and US east coast
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FeaturesAsian economies contract post COVID-19
Trade credit insurer Atradius has analysed the impact of the coronavirus pandemic on five Asian markets - India, Japan, Indonesia, Thailand and Vietnam - revealing economic contraction, sharp swings in export rates and a rise in business insolvencies.
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NewsWinterstorm Victoria insured loss rises to €344m
The storm, also known as “Dennis”, affected the British Isles and north-western Europe from 15 to 17 February 2020 and occurred six days after extratropical cyclone Sabine
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NewsMore woes for travel insurers and customers as Covid corridor to France shuts
Those travelling from France and a series of other countries will have to quarantine upon returning to the UK
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ViewpointsLong-term governance failures caused Beirut blast
Governmental shortcomings were to blame for the explosion in Lebanon, according to risk experts, who say lessons can be learned from the incident
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NewsMauritius: ‘Most of the oil’ removed from damaged ship
Japan P&I Club, the only organisation in Japan that underwrites protection and indemnity (P&I) insurance for ocean-going vessels and coastal ships, said it had yet to estimate the cost of the clean up. “We are trying to make internal estimates under different scenarios …including the worst and the best, but ...
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NewsBusiness owners can sue insurer over COVID-19 losses: US judge
A federal judge in Missouri said on Wednesday that a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they say caused a “direct physical loss” to their premises.
