All News articles – Page 167
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NewsSaudi Re signs contract with Malath Insurance
Saudi Reinsurance Company (Saudi Re), announced the signing on an exclusive reinsurance contract with Malath Insurance Company, on behalf of the Saudi insurance industry, to provide reinsurance coverage on the Inherent Defects Coinsurance Programme.
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NewsZurich Insurance operating profit falls 40% after COVID-19 hit
ZURICH (Reuters) - Zurich Insurance’s (ZURN.S) first-half operating profit fell 40% to $1.7 billion, the Swiss company said on Thursday, as payouts linked to the COVID-19 pandemic and weaker financial markets dented its business.
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NewsUK life insurers pay 90 million pounds in COVID-19 claims - trade body
British life insurers paid 90 million pounds in claims related to deaths from the COVID-19 pandemic in the three months to end-May, the Association of British Insurers (ABI) said on Thursday.
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NewsEurope Relaunches the idea of a ‘Pandemic Risk Pool’. Eurochambres Signs a Memorandum of Understanding with Generali to promote it
The participation to the ‘Pandemic Risk Pool’ project is expected to be broadened to involve European institutions, EU Member States and other leading European players in the creation of Public-Private Partnerships and mechanisms that will provide a buffer against future risks.
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NewsSwiss Re Institute estimates global insured catastrophe losses of USD 31 billion in first half of 2020, mostly from secondary perils
Global economic losses from natural catastrophes and man-made disasters in the first half of 2020 were USD 75 billion, according to Swiss Re Institute’s preliminary sigma estimates.
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NewsLloyd’s Lab selects ten new InsurTechs for fifth cohort focused on COVID-19 risks
More than 140 applications were received from across the world for the fifth cohort of the Lloyd’s Lab, which begins 7 September 2020.
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NewsSCOR collaborates with Verisk to develop the EHR Triage Engine for the US Life Underwriting Market
In an era of increased amounts of electronic data and competitive advantages of fast underwriting decisions, SCOR recently partnered with Verisk, a leading data analytics provider, to develop a new tool that helps Life insurers to fast track applications, by using data from consumer-authorised electronic health records (EHRs). ...
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NewsInsurers shine spotlight on shipping container loss incidents
The extent and pace of growth in container volumes have put strains on a wide range of operational procedures
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People & OpinionCharles Taylor Welcomes Arjun Ramdas as Chief Executive Officer of InsureTech
Charles Taylor, the leading provider of services and technology solutions to the global insurance market, has today announced that Arjun Ramdas will join the firm as Chief Executive Officer of Charles Taylor InsureTech, effective September 2nd
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NewsFINEOS Acquires Limelight Health
FINEOS, the global market leader in core systems for life, accident and health insurance, has entered into an agreement to acquire Limelight Health, a leading North American provider of quoting, rating and underwriting solutions for group and voluntary employee benefits, for $75M US.
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NewsAPAC commercial insurance pricing up 31% in Q2
COVID-19 related losses among the factors driving up insurance pricing - Marsh
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People & OpinionChubb Appoints Paul Krump Vice Chairman, Global Underwriting and Claims
The appointment is effective September 1, and Mr. Krump will report jointly to Evan G. Greenberg, Chairman and Chief Executive Officer, and to John Keogh, Executive Vice Chairman and Chief Operating Officer.
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NewsGlobal Commercial insurance pricing up 19% in Q2 - Marsh
The increase is the largest since the index was launched in 2012 and reflects increased loss experience
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NewsMonsoon floods inflict $20 billion of damage in July
Much of the physical damage to property, infrastructure and agriculture is expected to be uninsured - Impact Forecasting
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NewsIrish regulator mirrors FCA by publishing supervisory framework to clarify Covid BI claims
The Central Bank of Ireland ‘expects firms to adopt a customer first approach to the resolution of business interruption issues’
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NewsQBE’s data-driven approach to bushfire recovery
A smart use of data analytics and the development of new technology has overhauled QBE’s catastrophe recovery process, enabling the insurer to deliver its most efficient and localised response to customers impacted by natural disasters.
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NewsAM Best Comments on Port Explosion in Beirut
AM Best is monitoring the situation in Beirut, Lebanon, following the devastating explosion at the city’s port on Tuesday, 4 August. The cause of the explosion, which resulted in many casualties and considerable damage is still under investigation. As the situation is unfolding, the likely effect on the local insurance ...
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Global MattersCOVID-19 brings intangible assets into full focus - Lloyd’s publishes report today in collaboration with KPMG
Intangible assets are an increasing proportion of companies’ balance sheets, already accounting for as much as 85% of the total business value across industries according to estimates. With the acceleration of digital business models, amplified by COVID-19, this value could now increase much further, becoming a major blind-spot for firms ...
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NewsBeirut port disaster loss to impact global insurers
Observers are drawing comparisons with the 2015 explosion in the Chinese port of Tianjin, which highlighted accumulation exposures in ports - AM Best
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NewsGRS appoints Chris Heywood as Chief Systems Architect
Global Risk Solutions, Inc., a leading provider of a diverse range of claims adjusting and environmental risk management solutions, is continuing to expand and deepen its technology capabilities with the hire of Chris Heywood as Chief Systems Architect.
