All News articles – Page 21
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Brokers to blame for lack of pandemic focus in FTSE 100 boardrooms – Mactavish
The firm’s chief executive believes organisations have been ‘wasting their money’ on broker advice if pandemic risks have not been mentioned
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Ruling against Thierry Derez and Covéa by the commercial court for misconduct
Ruling against Thierry Derez and Covéa by the commercial court for misconduct during the preparation and execution of Covéa’s unsolicited takeover bid for Scor
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The Next Phase: North American Insurance (Pandemic Accelerates Change in the Insurance Landscape)
As the “longest year” enters its final weeks, Fitch provides its view of the possible longer term implications of the coronavirus pandemic for the North American insurance industry.
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Global ransomware attacks rise 110% in September
Overall, there was a 40% rise in ransomware attacks in the first three quarters of 2020 compared to the same period last year
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Allianz Insurance has rolled out free access to online learning platform, LinkedIn Learning, to many of its independent brokers
Building on Allianz’s existing Broker Training proposition, which provides webinars and technical broker training programmes to all brokers, the new offering will provide select independent and regional brokers with access to more than 16,500 on-demand courses from LinkedIn Learning.
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Hannover Re expects Group net income of more than EUR 800 million for the 2020 financial year
The company increased its reserves for Covid-19-related losses in property and casualty reinsurance by EUR 100 million to a total amount of EUR 700 million as at the end of September. In life and health reinsurance the burden from Covid-19 currently stands at EUR 160 million.
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Guy Carpenter launches Mutual, Agency and Captive Reinsurance Solutions Practice within Global Marine & Energy Specialty Group
This practice, which forms part of Guy Carpenter’s Global Marine & Energy Specialty group, is one of several key growth strategies the company is focusing on in the marine & energy sector.
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Finnish insurer Sampo’s Q3 pretax profit surges
Finnish financial group Sampo reported a 425% rise in third-quarter pretax profit on Wednesday, citing excellent results at its property and casualty subsidiary If and improved market values of its investment assets.
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SIRC 2020 - COVID-19 a fractal shock to the reinsurance industry. Denis Kessler
A vast majority of risk can be visualised, but a virus spread is invisible, insidious and pernicious. People are infinitely more afraid of dangers they cannot see than the danger they can identify.
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Sweden’s largest insurer, Folksam, leaked shares data of one million Swedes with tech giants
Sweden’s largest insurer, Folksam, accidentally leaked private data on about one million of its customers to a handful of the world’s largest technology companies, it said on Tuesday. Folksam, which insures 50% of Swedish homes and individuals, shared the data with tech giants such as Facebook, Google, Microsoft and LinkedIn. ...
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Ford and Verisk collaborate to offer telematics data to insurers
Verisk, a data analytics provider, announced that Ford Motor Company has joined the Verisk Data Exchange™. Owners of eligible Ford and Lincoln vehicles will soon have easy access to usage-based insurance programs from the many U.S. auto insurers that connect to the Exchange—including three of the ten largest U.S. carriers.
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Berkshire Hathaway Specialty Insurance Introduces D&O Liability and Professional Indemnity Policies in Dubai
Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has finalized proprietary Directors & Officers (D&O) Liability and Professional Indemnity (PI) policy wordings for customers in the UAE and throughout the Middle East.
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Reuters: Telefonica to team up with Allianz for €5 billion investment in Germany: Expansion
Spanish telecom giant Telefonica is readying an alliance with the private equity arm of German insurer Allianz to finance a 5 billion euro infrastructure investment in Germany, Spanish newspaper Expansion said on Monday.
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Munich Re expects further hardening of markets
Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates – likely to remain even lower for even longer due to the coronavirus pandemic – are impacting the profitability of reinsurers. Insurance covers are therefore likely to become more expensive, ...
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FCA proposes new measures for vulnerable customers in wake of Covid-19
The FCA has published new guidance on how insurers and brokers should be helping customers facing financial difficulties in the wake of the Covid-19 pandemic.
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Moody’s affirms Hyperion debt rating in wake of A-Plan deal
Moody’s has also assigned B2 ratings to the new £475 million guaranteed senior secured term loan facility being issued by Hyperion Refinance, and the £125 million guaranteed senior secured revolving credit facility being extended to September 2024 by HIG. The outlooks on all issuers are stable.
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RSA chairman Martin Scicluna to step down next year
RSA chairman Martin Scicluna is to step down next year, according to reports on Sky News.
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John Lewis teams up with Munich Re’s Digital Partners, Sedgwick and ICE InsureTech for home insurance proposition
The high-end retail giant hopes to deliver a new home insurance product early next year targeted at a wider customer base as a result of the partnership
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Briefing: How insurers can beat the recession
Covid-19 has hit the insurance industry just as hard as the 2008 global financial crisis. But with the global economy hit even harder this time around, insurers are setting themselves up for a quicker return to growth than many may anticipate By insight editor Matt Scott
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First Spanish Insurer uses AI to assess vehicle damage
For the first time, an insurer in Spain – Admiral Seguros, the Spanish subsidiary of global insurer Admiral - is using Artificial Intelligence (AI) to create damage valuations and to generate an offer of immediate payment on damaged vehicles. To do this, Admiral Seguros is using an AI solution, ...