All Insurance articles – Page 31
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NewsUK plans for self-driving cars threaten safety - insurance group
British government plans that could allow self-driving cars on motorways as soon as 2021 would put lives at risk because the available automated technology falls well short of human driving capabilities, UK insurance group Thatcham Research said on Friday.
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AnalysisBriefing: A bright future, or momentary relief for the motor market?
The impact of the nationwide lockdown earlier in the year is expected to help the UK motor market return to profit once again in 2021, but with underlying problems still dogging the market, this is only anticipated to offer temporary respite for motor insurers By insight editor Matt Scott
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NewsSix insurers drop High Court appeal against BI ruling for some policies
The insurers are however still contesting the ruling on some policy types
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News‘Nothing stopping’ resilience policy insurers paying out amid FCA test case ruling, says law firm
RSA has decided not to appeal the FCA test case ruling for its RSA4 resilience policies
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NewsColdplay bassist and others have called on the government to back an insurance scheme for the events sector
Coldplay bassist Guy Berryman and ex-Dragon’s Den star Sarah Willingham have called on the government to back an insurance scheme for the events sector, similar to one already up-and-running for film and TV production. Business heavyweights including Links of London founder John Ayton and Notonthehighstreet founder Holly Tucker have signed ...
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NewsBest’s Commentary: LIBOR transition poses operational and legal challenges for Insurers
With less than a year and a half to go before the London Interbank Offered Rate (LIBOR) will no longer be available, several areas of concern remain, according to a new AM Best commentary. A review of AM Best-rated insurer debt, as detailed in a Best’s Commentary, titled, “LIBOR Transition ...
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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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NewsCanada’s struggling hospitality businesses face ‘perfect storm’ as insurers flee
Many hospitality companies were already operating on razor-thin margins before pandemic-driven lockdowns. An inability to access affordable insurance could spell the end for them, given they are barely managing to hang on amid distancing restrictions.
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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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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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NewsStart of a European-wide comparative study on diversification in internal models
On 1 October 2020, the European Insurance and Occupational Pensions Authority (EIOPA) launched a European-wide comparative study on diversification in internal models. The objective of the study is threefold: to gain an overview of the current approaches in the market and, on best effort basis, analyse and compare the ...
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NewsBest’s Market Segment Report: Nigeria’s Insurance Market Offers Significant Potential Despite Headwinds
Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy continue to point to significant development potential for its insurance sector. However, Nigeria has failed to deliver on that potential historically due in part to the volatility of growth in the country’s ...
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NewsNew Zealand introduces climate risk disclosure regime
New rules will require firms to disclose how climate change will affect their business on a ‘comply or explain’ basis
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NewsAon democratizes access to catastrophe data by supporting open data formats curated by Oasis
Aon is enabling re/insurers to easily convert their catastrophe data into the Open Exposure Data format to allow more vendor model choice and enable broader risk management insights. Following the costliest decade on record, economic losses from natural disasters reached USD75 billion in the first half of 2020 and reinforced ...
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NewsInsurers Passing the test on Claims, but UK Consumers remain sceptical about Insurance Industry
Guidewire has published results of research that shows that consumers are cautious about insurers’ attempts to interact with them through new services and the use of new technology.
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NewsFCA warns on premium financing in pricing crackdown proposals
Regulator is concerned that customers may not be treated fairly on premium financing and warns providers could be in breach of law
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NewsInsurance firms will be forced to end price walking as FCA reveals rip-off remedies
Firms will be forced to offer the same price for insurance products at renewal as they do for new business, the FCA said in its final report on pricing practices released today. The proposed remedy aims to end the practise of so-called ‘price walking’, where customers - particularly in retail ...
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NewsData subject insurance claims are ‘sting in the tail’ for corporate cyber breach victims
Data subject claims – made by individuals whose data has been compromised following a corporate insured experiencing a data breach – is “effectively becoming the new PPI”, often acting as a “sting in the tail” for organisations attempting to recover after a cyber attack.
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NewsBlog: Insurance innovation race raises speed versus sustainability questions
André Symes, managing director of international and chief growth officer at Genasys, explores whether insurance product quality and long-term sustainability is being sacrificed for faster turnaround speeds on sector innovations
