All News articles – Page 120
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NewsAlexander Forbes open for deals after insurance sale to Sanlam
The South African retirement and investment adviser is boosting its surplus capital and selling its risk and retail business operations - which had insurance premium income of R1 billion at the end of March - to Sanlam.
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NewsAon brand replaces Anviti in India
Aon today announced that it will operate its insurance and reinsurance broking business under the Aon brand name in India effective immediately.
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AIRInsurers have paid more than £750m in interim and final BI payments to date
Since the Supreme Court’s January decision in the FCA’s test case around Covid-19-related business interruption (BI) claims, a total of £756,846,662 has been paid out by insurers for either interim or final BI claims payments across 20,347 claims, according to updated data published by the FCA yesterday (14 June 2021).
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NewsBest’s Market Segment Report: Hardening market and regulatory developments in the GCC drive interest in Captive Insurers
A wider gamut of companies is now investigating self-insurance solutions in response to hardening rates in the international commercial insurance and reinsurance markets. Additionally, companies in the region are becoming increasingly sophisticated in their risk management.
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NewsConsumer group questions extent of Covid cover in travel policies
Consumer group Which? is questioning whether travel insurers are living up to their claims that they provide “complete” Covid-19 cover after its research found that only two travel insurance providers offer all-round financial protection for policyholders, reported the BBC.
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NewsBoE launches climate stress test for banks, insurers
It will provide central banks and supervisors globally with a common starting point for analysing climate risks under different scenarios
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NewsCyber: Breaking the culture of silence
A lack of transparency on cyber attacks is benefitting the threat actors and increasing the threat
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NewsCOVID masks Brexit impact on UK-EU trade
UK trade with the EU has declined at twice the rate as trade with the rest of the world - Atradius
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NewsAXA France offers €300m BI settlement to 15,000 restaurant clients
AXA France has offered a €300m financial business interruption (BI) solution to 15,000 restaurant owners on the insurer’s standard insurance policy, including extended coverage for losses linked to administrative closure.
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NewsInsurance sector could fork out up to $3bn for Tokyo Olympics cancellation
The insurance sector could pay out between $2 to $3m for the cancellation of the impending Tokyo Olympic Games to begin 23 July, according to an analysis from Bloomberg Intelligence.
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NewsBermuda assesses G7’s outline for new global tax system
Curtis Dickinson, Bermuda’s finance minister, reacting to his G7 counterparts’ commitment to a minimum corporate tax, last night said: “It is critical that any agreed framework to establish a global minimum tax, must respect a country’s right to sovereignty in relation to its tax system.”
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NewsGallagher announces leadership changes within its Gallagher Re business
Gallagher today announces that Tom Wakefield will become chief executive officer (CEO) of its reinsurance business, Gallagher Re, subject to regulatory approval.
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NewsWTW: Global insurance industry faces IFRS 17 costs estimated at US$15 to US$20 billion
As the January 2023 transition date approaches, over 300 insurers reveal their top challenges in this comprehensive study by Willis Towers Watson
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NewsCanopius announces the launch of its algorithmic underwriting platform, Vave, as an MGA
Vave MGA is forecast to exceed $100m premium by the end of the year, and, as a digital platform with diverse capital, Vave is positioned for rapid and sustained growth.
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NewsMajor websites affected by cloud outage
Fastly said CDN services were impacted as dozens of sites, including Amazon and the UK government, were unavailable
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NewsEmerging risks and the “COVID effect”
Government support programmes have kept alive unviable zombie companies, while wealth inequality has broadened, finds Swiss Re SONAR
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NewsLessons in risk from the Suez crisis
Suez, COVID and Brexit have challenged assumptions about the complex supply chain risks modern corporates must contend with
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NewsSteps towards cyber resilience
Three proven strategies business leaders can deploy to accelerate cyber transformation
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NewsAon using IoT to cover Covid-19 vaccine supply chain is ‘game changer’ says GlobalData
Aon’s specialized cargo insurance product uses the Internet of Things (IoT) to provide supply chain cover for globally transporting the Covid-19 vaccine is a “game changer” for this line, according to GlobalData.
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NewsScott Egan: There will be ‘no radical about-turns’ in RSA’s strategy following Intact takeover
Scott Egan, RSA’s chief executive for UK and international, has promised brokers there will be “no radical about-turns” in the insurer’s strategy following its acquisition by Canadian insurer Intact Financial Corporation and Danish insurer Tryg A/S.
