News – Page 140
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NewsQBE on track to reach robotics milestone of 30,000 claims tasks processed a week
By the end of this year, QBE will have 45 ‘robots’ in place completing 30,000 tasks a week across its European division. This is twice the number of robotics-facilitated tasks completed on a weekly basis at the end of 2019 and an increase of 15 ‘robots’. The ‘robots’ are created ...
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NewsSCOR: How can (re)insurers lead the way on climate change action?
Michèle Lacroix, Head of SCOR’s Group Investment Office: How to include sustainability in investment decisions? Financial markets are leading the way in the sustainability journey. Stringent regulation over the last five years has meant that CSR and ESG are now common acronyms, with Environmental, Social and Governance being the ...
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People & OpinionCovéa appoints new Managing Director for Personal Lines & Protection
Covéa Insurance is pleased to announce the appointment of James Gearey to the position of Managing Director, Personal Lines & Protection. In his new role, James will be accountable for all the company’s consumer-focused products, including Motor, Home, Pet, Income Protection, Personal Accident and Life insurance. In addition, he ...
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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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NewsInsurers expect few clashes between EU and UK over capital rules
Separate reviews in the European Union and Britain of capital requirements for insurers are likely to produce a similar set of rules for cross-border firms, insurers said on Tuesday. Since the capital rules were introduced by the EU in 2016, markets have evolved, with central banks pushing interest rates into ...
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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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News
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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NewsFCA test case appeal confirmed for Supreme Court
However Ecclesiastical and Zurich have bowed out, while Qatar Insurance Company has been denied the right to intervene
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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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People & OpinionArgo Group Appoints Allison Kiene to Serve as Group General Counsel
Argo Group has announced the appointment of Allison Kiene to serve as the company’s general counsel. In this role, Kiene will be responsible for the company’s legal and compliance teams and will report directly to Chief Executive Officer Kevin Rehnberg. “Allison joins Argo with a wealth of experience in all ...
