All News articles – Page 133
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NewsFlorida consumers ‘flabbergasted’ as property insurers push for double-digit rate hikes
Florida property insurers are jacking up rates by double-digit percentages, blaming the hikes on lingering damage from past hurricanes, a wave of litigation, and a law that encourages lawyers to sue by allowing courts to award them big fees. The rate increases in Florida, the third-largest property insurance market among ...
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NewsAfrica Specialty Risks Group partners with GIC of India and Peak Re to launch new capacity through its MGA
In the near future, ASR will be expanding its current line up to include Political Violence and Terrorism, Liability, Construction, and Parametric covers for its clients. To support its business across the continent, ASR has established a fully licenced reinsurer in Mauritius.
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NewsBuffett’s Berkshire reveals big stakes in Verizon, Chevron
To make room, Berkshire reduced its investments in several companies including Apple Inc, though at approximately $121 billion the iPhone maker remains by far its largest common stock holding.
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NewsQIC Group reports QR12.2bn gross written premiums in 2020
Doha: Qatar Insurance Group’s, the leading insurer in the MENA region, gross written premiums for the year have remained stable at QR12.20bn, compared to QR12.06bn for 2019. The Group yesterday announced its financial results for 2020.
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NewsAIG Reports Q$ and Full Year 2020 Results
Brian Duperreault, AIG’s Chief Executive Officer, said: “AIG’s fourth quarter and full year 2020 operating results demonstrate the continued progress we are making to position AIG for long-term, sustainable and profitable growth.
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NewsAre you ready for 5G?
Risk managers must ensure that the business opportunities offered by 5G are not outweighed by extra security threats
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NewsEurope braces for wave of insolvencies
A surge in expected bankruptcies, once governments begin withdrawing state schemes, could impact supply chains
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NewsEIOPA moots multi-peril risk pools
Capital markets could be an additional layer of risk transfer to improve society’s capacity for bearing business interruption risk
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NewsMore than a fifth of adults trust insurance firms less because of Covid-19
To rectify the negativity surrounding the business interruption test case and the resulting impact on trust in the sector, ‘there is clearly work to be done at an industry level’ says Sicsic Advisory MD
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NewsLloyd’s warns syndicates of ‘increasingly high risk’ cyber attack threats from Internet of Things devices
Lloyd’s worked in partnership with CyberCube and Guy Carpenter on its new report for syndicates, designed to support their understanding of emerging cyber risks
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NewsCovid-driven digital shift opens door of opportunity for new brokers
The Covid-19 pandemic has fast-tracked the use of digital solutions in broking. Insurance Times explores how digital shifts during the pandemic has opened up the market for new broker opportunities
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NewsLancashire profit slides on Covid and catastrophe losses
Insurer Lancashire Holdings Ltd saw its full-year profit slide, as losses related to Covid-19 and natural catastrophes took their toll. The Bermudian-based company said pretax profit fell to $5.9 million in 2020, down from $119.5 million in 2019. Net losses related to Covid-19, natural catastrophes including California wildfires and hurricanes ...
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NewsSpanish snowfall claims to reach €1.8 billion
Storm Filomena brought wintry conditions and cold temperatures not seen in Spain in two decades - Impact Forecasting
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NewsBank of England rules out big capital reduction for insurers after Brexit
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill for COVID-19 claims.
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NewsGlobal all-in-one e-trading platform aims to save brokers time on deal-making
Riskbook has rebranded as Supercede alongside revealing its global e-trading platform which claims to save brokers time on administration when deal-making.
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NewsD&O protection gap grows as rates soar
Escalating premiums and lack of capacity could see firms refusing to purchase or reducing cover, leaving senior professionals on the hook for claims
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NewsAllianz Insurance has issued BI claims pay outs on 75% of valid claims
Allianz Insurance has confirmed that it has paid out on 75% of its valid business interruption (BI) claims – by the end of January 2021, this amounted to 1,832 interim and final claims payments.
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NewsPerth Hills bushfires declared a catastrophe
Bushfires in the north-east Perth Hills region have so far destroyed 81 homes, with insurers receiving over 270 claims worth $40m
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NewsReinsurer secured pandemic protection before Covid-19 crisis
The world was caught unprepared by the Covid-19 pandemic, however a Bermudian-based reinsurer secured some pandemic coverage protection only weeks before the coronavirus health emergency unfolded.
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NewsDubai Insurance Co. has numbers to back its return to growth
Its general insurance lines could see gains from an upcoming economy upturn
