All News articles – Page 18
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Insurer AIG pays $12 million fine in NY pension transfer probe
The settlement is the second in a probe by the New York State Department of Financial Services (NYDFS) into an industry in which life insurers take over corporate pension plans.
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Insurance systems are like a costly pre-Covid lease you can’t get out of - Stubben Edge
Chris Kenning, chief executive of Stubben Edge, on how to avoid getting locked into legacy systems that prevent an insurance business from meeting the demands of the modern market
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IUA appoints Zurich commercial head as new chairman
The International Underwriting Association (IUA) has appointed head of commercial insurance at Zurich UK, Robert Kuchinski as its new chairman.
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FCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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Allianz Partners teams up with Irish insurtech for post-pandemic travel insurance platform roll out
Allianz Partners has teamed up with Irish insurtech Blink. The partnership will oversee the mass roll out of Blink’s travel disruption insurance platform in the UK.
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Trõv partners with NIG underwritten electric car rental service for London fleet proposition
The partnership will see the two firms manage risk more effectively for electric cars
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Allianz gets approval to set up insurance asset management firm in China
Allianz said on Thursday it had obtained regulatory approval to set up China’s first wholly foreign-owned insurance asset management company, as the German insurer steps up expansion in the world’s second-biggest economy. The greenlight from the China Banking and Insurance Regulatory Commission (CBIRC) comes a month after the signing of ...
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OUTLOOK 2021: Regulatory challenges abound for U.S. insurers as Biden takes over, pandemic rages
Insurers will also have to prepare for a year of heightened scrutiny on market conduct and consumer protection from states this year.
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Insurers face ‘mind-blowingly’ large loss if Olympics cancelled
Insurers are facing a $2-3 billion loss if the Tokyo Olympics are cancelled this year, amounting to the largest ever claim in the global event cancellation market, brokers say.
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Aon and Willis Towers Watson announce the future leadership team
“Aon and Willis Towers Watson have a unique opportunity to create a combined firm that will make an even greater difference in the global economy and provide unparalleled experiences for our clients and colleagues,” said Greg Case, Aon CEO.
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Mental health: The next crisis
Tackling mental health is not just the right thing to do, but an essential exercise in risk management, according to International SOS’ Dr Rodrigo Rodriguez-Fernandez.
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PPPs needed to insure systemic risk
Future climate and systemic risks remain a key challenge - Insurance Development Forum
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Sompo International announces partnership with Flock
This partnership supports the future of unmanned aviation by increasing the availability of critical insurance needed for emerging use-cases, like drone cargo deliveries, flying taxi passenger flights and drone swarm shows.
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Insurers complicit in ransomware rise - warning
Insurers are inadvertently funding organised crime by covering ransom payments, says former NCSC chief
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Covid-19 impact on insurance recruitment revealed
Recruitment stats confirm economic impact of pandemic past year, but more optimistic picture painted for 2021
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FloodFlash pays Storm Christoph catastrophe claim in 9 hours 44 minutes
It means that policyholders can be paid their claim on the same day
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Lloyd’s offers AI-enabled reputational risk cover
A group of Lloyd’s insurers are providing artificial intelligence-enabled tools to help policyholders control their corporate brand and reputation more effectively.
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Zurich warns of ‘double disaster’ as Storm Christoph batters England and Wales amid pandemic
Storm Christoph has raged through England and Wales, adding further strain on the UK as it battles the ongoing coronavirus pandemic. Some insurance industry experts, however, have stepped in to offer support, advice and a solution
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Onslaught of Covid claims expected to hit CMCs as 70% see claims registered
Research by broker Gallagher also predicts the pandemic claims uptick will cause a 40% rise in litigation compared to previous years
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Aviva commercial lines MD to join Lloyd’s in newly created role
Lloyd’s of London has appointed Patrick Tiernan, currently Aviva’s managing director of UK commercial lines and global corporate and speciality, as its chief of markets – a newly created role.