News – Page 138
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NewsInsurance industry takes ‘more holistic view’ to preservation of the building versus life
Using timber within construction is a greener solution for the environment, despite it being combustible and - in turn - higher risk. However, since the insurance industry is now taking a ’more holistic view’, should it also start thinking ‘out of the box’ to address these risks?
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NewsMost insurance CFOs planning to automate 5-20% of finance controls – EY
Automating financial controls could save insurers money and make room for more complex tasks, says EY
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NewsInsured loss from Delta projected to run at $2billion
Storm-weary coastal Louisiana residents who fled from the path of Hurricane Delta in recent days streamed back to their homes on Sunday to face cleanup and repairs from the second hurricane to batter their state over the past six weeks. Insured losses from Delta were projected to run to $2 ...
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NewsReuters: As the world races into vaccine trials, insurers remain unfazed
The world is racing towards a vaccine in record time, stirring public concerns about safety to the extent that nine leading developers have felt compelled to issue a pledge to uphold scientific standards and testing rigour. Yet, while more than 40 experimental COVID-19 vaccines are being tested on humans, the ...
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NewsArgoGlobal announces agreement on RITC transaction with RiverStone
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, today announced a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone. Upon completion of the transaction, RiverStone will undertake an RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net technical provisions of £356 million.
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NewsSwiss Re and Daimler launch new company Movinx to transform automotive and mobility insurance business
Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called Movinx. Both shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model. The aim is to develop fully digital automotive ...
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People & OpinionChubb appoints Nandini Mani to lead claims for international general insurance business
Chubb announced today that Nandini Mani has been appointed Executive Vice President, Claims for Overseas General Insurance, the company’s international general insurance business in 51 countries and territories.
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NewsZurich expands corporate travel insurance proposition
Zurich is expanding its business travel product and services. The enhanced offering includes a larger international servicing network, broader insurance coverage and new capabilities to support travelers and risk managers through technology.
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AnalysisSwiss Re: Re/insurance in the Middle East and Pakistan: annual outlook and review 2020
Coronavirus has transformed the outlook for the economies and insurance industry in the Middle East and Pakistan, with recession expected this year. We expect the economic recovery to start in mid-2021, although downside risks include a resurgence in COVID-19 cases, new government lockdown measures, lower-for-longer oil prices and a low ...
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NewsUnited States Olympic and Paralympic Committee (USOPC) suing insurers for holding up Nassar settlement talks
The United States Olympic and Paralympic Committee (USOPC) said on Friday it has filed a lawsuit against its insurance providers for failing to fulfill obligations in reaching a settlement with survivors of the Larry Nassar sexual abuse scandal. The USOPC is suing 11 insurers, including units of Chubb Ltd and ...
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NewsHurricane Delta weakens after churning into storm-battered Louisiana
Hurricane Delta weakened steadily on Friday after churning into a corner of southwestern Louisiana repeatedly battered by storms this year, sending residents scurrying out of harm’s way and disrupting Gulf Coast energy production.
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NewsBeazley launches international cyber & breach response broker portal
Specialist insurer Beazley has launched a cyber & breach response portal containing an all-encompassing set of resources designed to help broker partners and coverholders stay informed and educated on the constantly evolving cyber risk landscape. Once registered, brokers will have unlimited access to a vast suite of information – from ...
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People & OpinionCII appoints Aon UK chief executive as new president
At the professional body’s annual general meeting today, the CII also confirmed a new deputy president
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NewsInsurers need to ‘get to grips’ with timber to progress construction’s net zero targets
Brokers can play a key role as educators to support the construction sector to use more timber in a bid to reduce carbon emissions
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NewsHurricane Delta is set to make landfall in Louisiana later today as a strong Cat 2 or Cat 3 hurricane, before weakening as it moves north.
As of a National Hurricane Centre (NHC) update at 07:00 London time, the centre of Delta was around 250 miles south of Cameron, Louisiana, and displaying maximum sustained winds of 120mph, making it a Cat 3 hurricane.
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NewsZurich LiveWell to acquire digital health and wellbeing service providers as it strengthens its capabilities
Zurich Insurance Group (Zurich) has agreed to acquire from the founders the digital health and wellbeing service providers HealthLogix, based in Australia, and HealthInsite, based in South Africa, to further expand its Zurich LiveWell health and wellbeing business. The companies, jointly known as HLX, offer customers a range of mobile ...
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NewsPremia Holdings has reached an agreement to acquire Navigators Holdings (Europe) NV from The Hartford
Premia Holdings has agreed to acquire Navigators Holdings (Europe) NV (and its associated companies, including Assurances Continentales – Continentale Verzekeringen NV of Belgium and Canal Re S.A. of Luxemburg) (collectively referred to as “ASCO”) from The Hartford. The transaction is subject to typical regulatory approvals.
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NewsLloyd’s launches new report on cities at risk from global threats
Lloyd’s, today announced a new report: Cities at risk – Building a resilient future for the world’s urban centres, published in association with Urban Foresight and Newcastle University. Using four global trends, the report analyses the risks affecting cities now, and in the future, and how these threats will ...
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NewsNew Lawyers Professional Liability Product announced by Munich Re Specialty Insurance
Munich Re Specialty Insurance today announced the introduction of Lawyers Professional Liability (LPL) insurance, an errors and omissions policy specially designed for mid-size law firms. “Law firms have specialized risk management needs that are not comprehensively addressed by standard property and casualty insurance policies,” said Marcia Blanco, Head of Professional ...
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NewsFlood Re’s credit rating upgraded
Credit rating agency maintains that the reinsurer’s ability to handle large claims warranted an upgrade
