All News articles – Page 117
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NewsCovid-19 is changing claims trends and risk exposures, according to new Allianz Report
Traditional property and liability claims have been subdued during lockdowns but this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry. Impact of the pandemic will shape future loss trends for companies in the mid- and long-term with changes ...
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NewsFCA pricing report paves way for ‘exciting and innovative time’ within insurance
Insurers need to start pinpointing their USPs in order to differentiate their services following the FCA’s steer from a heavy price focus to fair value says data insight firm
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NewsAllianz and Rugby Football Union announce landmark partnership
Allianz Insurance and the Rugby Football Union (RFU) have today announced a new agreement in which Allianz will become the Official Insurance Partner of England Rugby, and partner to the men’s and women’s England rugby teams. The landmark partnership will also see Allianz Insurance supporting the top women’s domestic rugby ...
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NewsZurich-Oxford report: New social contract needed to make workforce more resilient as COVID-19 accelerates change
The outbreak of COVID-19 has created a new urgency to address issues affecting working people worldwide, including the digitalisation of the economy, the need for continuous education, and the fragility of many national social protection systems. A new report by Zurich Insurance Group (Zurich) and the Smith School of Enterprise ...
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NewsCOVID-19 accelerating digitisation trend among Insurers, Says Chubb’s John Keogh
During the most recent fireside chat, hosted by Eric Andersen, President of Aon, Keogh said that the novel coronavirus (COVID-19) pandemic is giving the re/insurance industry a ‘huge shove’ forward in the trend towards digitisation, which would help improve interactions with clients. “I think the understanding of the customer experience ...
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NewsReuters Analysis: As cities bake on a warming planet, insurers cook up heatwave cover
As health workers carried out COVID-19 tests in public squares in Washington D.C. in July, work had to be suspended as temperatures in the paved spaces soared to what felt like 110 degrees Fahrenheit (43C). The heat-wilted U.S. city of Phoenix, meanwhile, has already seen planes delayed from taking off ...
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NewsInsurance Australia Group reaches $99 mln settlement over mis-sold insurance
Insurance Australia Group on Tuesday said it had agreed to a class action settlement involving a gross payment of A$138 million ($99 million) over add-on insurance products sold through motor vehicle and motorcycle dealers. IAG, Australia’s second-largest insurer by market cap, said the settlement is expected to have a net ...
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NewsOil firms begin offshore U.S. evacuations as record-breaking storm threatens
Energy companies on Monday began evacuating offshore oil platforms as the 25th named storm of the year formed in the Caribbean and was forecast to become a major hurricane before it entered the Gulf of Mexico and threatens the U.S. mainland. Tropical Storm Delta was expected to rapidly strengthen and ...
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NewsMajor hurricane brews in Gulf of Mexico, threatens Louisiana-Florida
Tropical Storm Delta, the 25th named Atlantic storm this year, is moving toward the Gulf of Mexico and expected to take aim at the U.S. Gulf Coast this week as a major hurricane, the National Hurricane Center said. If Delta strikes the U.S. Gulf Coast, it would break a record ...
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Jason Harris has joined QBE this month to take on the remit of CEO, International Division
Jason Harris has joined QBE this month to take on the remit of Chief Executive Officer, International Division, which includes European Operations, from Richard Pryce. Jason will work alongside Richard to ensure an orderly transition into the full role as soon as possible, subject to the usual regulatory approvals. As ...
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NewsU.S. Treasury warns cyber insurers payments to hackers may violate sanctions
Cyber insurers and other financial institutions that facilitate payments to hackers to end cyberattacks risk running afoul of sanctions rules, the U.S. Treasury Department warned on Thursday. The warnings, which referenced malicious programs known as ransomware, came in advisories from Treasury’s Office of Foreign Assets Control (OFAC)and Financial Crimes Enforcement ...
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NewsGerman court rules insurer must pay restaurant’s lockdown claim
A German court has ruled that a Munich restaurant’s insurer must pay out a claim for losses caused by the state-imposed COVID-19 lockdown earlier this year, the first prominent such case in Germany in which the court found in favour of the plaintiff. There are hundreds of similar lawsuits pending ...
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NewsJubilee Insurance and Allianz forge strategic partnership
Jubilee Holdings , East Africa’s largest insurance group, and Allianz, one of the world’s leading insurers and asset managers, have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates. The partnership covers the general insurance business (also known as the ...
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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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NewsAfrica Reinsurance Corporation (Africa Re) Group selects DIFC for Middle East expansion
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region has welcomed Africa Reinsurance Corporation (Africa Re) Group. The business will operate as Africa Re Underwriting Agency Limited (Africa Re) and the DIFC presence is their first office outside Africa.
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NewsChedid Capital acquires 80% of ASCOMA
Chedid Capital Holding (Chedid Capital) has acquired 80% in ASCOMA’s (Ascoma Assureurs Conseils) insurance brokerage business in Africa – a network of 21 subsidiaries and 780 employees across 21 African countries, with an office for international affairs in Paris.
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NewsCrawford & Company acquires claims company in Chile
Crawford & Company is pleased to announce the acquisition of Crawford Carvallo and its individual business units (Graham Miller, Crawford Marine & Transportation, Crawford Affinity Chile, Crawford Affinity Colombia, Legaltec, and Quality Surs), a leader in the provision of loss adjusting, claims management solutions and legal services in Chile. Crawford ...
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NewsSCOR announces the appointment of Ian Kelly as Chief Financial Officer
SCOR announces the appointment of Ian Kelly, currently Head of Investor Relations, as Chief Financial Officer, with effect from October 2, 2020. Ian Kelly will join the Group Executive Committee on this date. Mark Kociancic has decided to pursue a new direction in his career, having successfully served as Group ...
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NewsBI test case heard by NSW Court of Appeal
Insurance industry argued that the intention of pandemic exclusions in commercial property policies that contain business interruption cover is clear
