News – Page 139
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NewsCoreLogic Risk Analysis shows Hurricane Delta threatens 293,685 homes with storm surge damage
CoreLogic today released data analysis showing 293,685 single-family and multifamily homes across Louisiana and the U.S. Gulf Coast with a reconstruction cost value (RCV) of approximately $62.85 billion are at potential risk of storm surge damage from Hurricane Delta based on its projected Category 2 status at landfall. These estimates ...
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NewsSwiss Re Corporate Solutions Implements Majesco Digital1st Insurance and Majesco Policy for P&C on Majesco CloudInsurer in 11 Weeks
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, announced today that Swiss Re Corporate Solutions implemented Majesco Digital1st Insurance and Majesco Policy for P&C on Majesco CloudInsurer in 11 weeks to support initiatives in the Mexico Retail Market business. “Swiss Re Corporate Solutions had an ...
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NewsCanada’s struggling hospitality businesses face ‘perfect storm’ as insurers flee
Many hospitality companies were already operating on razor-thin margins before pandemic-driven lockdowns. An inability to access affordable insurance could spell the end for them, given they are barely managing to hang on amid distancing restrictions.
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NewsEthiopian Airlines unveils COVID-19 global insurance cover in collaboration with AXA Partner and Awash Insurance
Ethiopian Airlines Group, the largest aviation group in Africa, is pleased to announce that it will cover the medical insurance including repatriation, evacuation and quarantine costs related to COVID-19 as of 01st of October 2020 until 31st of March 2021. The coverage is applicable on all Ethiopian’s international flights booked ...
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AnalysisReputational crises put directors at risk
ESG pledges, unmet, will leave stakeholders disappointed and pose the greatest enterprise risks of all, warn Nir Kossovsky and Denise Williamee
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NewsLouisiana braces for Hurricane Delta
Louisiana on Thursday steeled itself for another in a record-breaking series of violent storms as Hurricane Delta sped across the Gulf of Mexico toward a region still recovering from the last storm. Delta struck Mexico’s tourist enclaves on the Yucatan peninsula on Wednesday, shaking residents and leaving behind a mess ...
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NewsInsurtech Superscript becomes a registered Lloyd’s broker
The move follows the insurtech registering as a Lloyd’s coverholder in 2019
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NewsConduct risk rises for financial firms
The pandemic is driving concern over mis-selling and improper business practices in the financial services sector - ORX
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NewsChina’s Lufax, backed by Ping An Insurance Group, files for U.S. IPO
The company’s filing follows the listing of OneConnect Financial Technology, another fintech company backed by Ping An, which raised $312 million in December 2019.
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AnalysisFirms must build more resilient workforces
COVID-19 has created a new urgency to protect working people, with compulsory unemployment insurance a much-needed safety net - research
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NewsSwiss Re Corporate Solutions and Hitachi launch ‘smart manufacturing’ solution
Insurance-based solutions will initially focus on manufacturing and transport firms that are adopting AI and other cutting-edge technologies
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NewsCOVID-19 Adds to Challenges for Bahrain’s Fragmented Insurance Market
COVID-19-driven financial market volatility is expected to negatively impact solvency levels of Bahraini insurers this year, according to a new AM Best special report, adding to the challenges faced by the kingdom’s (re)insurance sector — the smallest among the Gulf Cooperation Council (GCC) countries.
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NewsSompo International Expands Management Assurance Policy to Include D&O Insurance for Public Companies
Sompo International Holdings today announced a new Directors and Officers Liability (“D&O”) insurance policy form for publicly traded companies. Supported by a growing team of experienced underwriting and claims professionals and backed by excellent financial strength, Sompo International continues to be a trusted insurance partner for publicly traded companies in ...
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NewsHurricane Delta rips through Cancun, but damage less than feared
Tourists in Mexico’s top Caribbean resort Cancun picked their way through battered streets, broken glass and trees downed by Hurricane Delta on Wednesday, though damage was less severe than some feared as the storm tore across the Yucatan peninsula.
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NewsWEF: Unemployment is world’s biggest risk, business leaders say
Unemployment is the main concern for business executives globally, with fiscal crisis — the top concern in 2019 — coming third, according to the World Economic Forum’s interactive map on Regional Risks for Doing Business 2020. Infectious diseases progressed 28 spots and is the second most recurring risk, appearing in ...
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NewsMarkel consolidates all property CAT reinsurance business under Nephila
Markel Corporation (NYSE: MKL) announced today that it is creating one center of expertise for the global property catastrophe (CAT) reinsurance market by closing its Markel Global Reinsurance property CAT unit and having Nephila become Markel’s single point of entry for serving the property CAT reinsurance market.
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NewsLondon company market premium grows by 10%
Premium income for the London company market grew by 10% last year with £21.436bn of large commercial and wholesale risks underwritten by firms in the City. A new report from the International Underwriting Association’s also shows a further £6.197bn was written in other offices outside of London but overseen and ...
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NewsBest’s Commentary: Hurricane Delta Likely to Exacerbate Mexico Insurers’ COVID-19-Disrupted Claims Handling
AM Best expects insurance companies operating in Mexico to withstand the impact of Hurricane Delta because of their strong reinsurance programs, although claims management could be a challenge given restrictions on mobility already hampered by the COVID-19 pandemic. In a new Best’s Commentary, “Hurricane Delta Makes First Landfall in Yucatan ...
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NewsHedge funds make pandemic bet on insurance
Five years after London-based hedge fund Toscafund ditched the shares it held in insurance companies, the $3.5 billion firm and its peers are flocking back, drawn by sharp premium increases which are lifting the sector’s post-coronavirus prospects.
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ViewpointsFuture of insurance: Rise of parametric covers
Special edition: Future of business. In The Future of Business series, sister title StrategicRISK, in association with Swiss Re Corporate Solutions, look at the scale of change in the industries that are driving real innovation and shaping the future of business, and consider the impact from a risk and insurance ...
