News – Page 147
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NewsCatalina appoints new CEOs to Swiss and Bermudian subsidiaries
Catalina Holdings (Bermuda) Ltd announces the appointment of Claudia Ingenhoven as CEO of Glacier Re, Catalina’s Swiss subsidiary, effective from 19th August 2020, and Sarah Ruberry as CEO of Catalina General, Catalina’s flagship Bermuda-based reinsurer, effective from early November. Claudia most recently served as Chief Financial Officer of iptiQ EMEA ...
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NewsBusiness interruption test case judgement will not be the ‘final word’
An appeal on the judgement delivered for the test case on non-damage business interruption (BI) policy wordings and their interpretation for Covid-19-related claims tomorrow is “inevitable” – Plexus Law partner Andrew Crocombe thinks that early 2021 is the more likely deadline for a “final word” on the matter, once the ...
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People & OpinionMonte Carlo RVS Industry Survey 2020: Riding the cycle - Have your say
This study will survey top decision-makers at the world’s leading international commercial re/insurers and brokers, to examine how global reinsurers are riding the cycle, the likely impact of COVID and other losses, how capital may seek to enter the industry and whether automation has been accelerated by lockdown restrictions.
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NewsAmazon prepares to enter motor insurance market
Amazon is preparing to enter the motorcycle and car insurance market. Its entry into the market will help shift consumer expectations about buying insurance products from non-traditional players.
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NewsSlovenian woman cuts off own hand in insurance fraud attempt
A 22-year-old Slovenian woman has been sentenced to two years in prison for cutting off her own hand with a circular saw in order to make fraudulent insurance claims amounting to €380,000, reported the Metro. Julija Adlesic was said to have staged the incident alongside three others – this includes ...
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NewsLloyd’s John Neal reflects on ‘huge impact’ of pandemic but commends market’s achievements
To return Lloyd’s of London to long-term, sustainable profitability, its good progress to date must be maintained. This was the message that Lloyd’s chief executive John Neal delivered during a virtual press briefing yesterday afternoon as he reflected on Lloyd’s progress, despite the “huge impact” that the pandemic has had ...
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NewsHow telematics can serve the boat insurance market
The UK’s lockdown continuing has seen boat sales soar as more and more people decide to take staycations and as a result boat insurance has also risen– the same trend has been seen in the US. A new partnership is bringing telematics to boat insurance which could save underwriters money, ...
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NewsOxford University to research cyber resilience
Willis Towers Watson is partnering with the university to conduct research into the cost of equity arising from severe cyber breaches
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AnalysisEurozone to benefit from reshoring - sigma
Global supply chains are undergoing fundamental and accelerated restructuring, with re-shoring a growing trend in Europe
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NewsSoutheast Asia to benefit from supply chain diversification
Global supply chains are undergoing fundamental and accelerated restructuring, the latest Swiss Re Institute sigma study
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NewsLloyd’s of London expecting to pay out £5bn in claims, despite reporting stronger solvency position
Lloyd’s of London expects to pay out up to £5bn in Covid-19 customer claims on a gross basis, with £2bn of this figure being reinsured. It announced a loss of £0.4bn pre-tax for the first six months of 2020, compared to £2.3bn in 2019.
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NewsBrit’s digital syndicate Ki names chief executive
Brit’s chief financial officer and group executive director Mark Allan has been appointed to lead its new digital Lloyd’s syndicate Ki. Allan has been leading the development of Ki over the past 18 months, and will “take on this pivotal leadership role to build the business and realise the ambitious ...
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News
Willis Re Reinsurance Market Report September 2020: Results for half year
Herewith the12th semi-annual publication of Willis Re’s Reinsurance Market Report which tracks the capital and profitability of the global reinsurance industry. The most visible features of global reinsurers’ 2020 HY operating performance and capitalisation have been the gradual emergence of COVID-19 losses and tremendous volatility in investment markets. Less visible, ...
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People & OpinionMegan Thomas Announced as CEO of Hamilton Re
Hamilton Insurance Group, Ltd. (“Hamilton;” “the Company”) today announced the appointment of Megan Thomas as Chief Executive Officer of Hamilton Re, Ltd., the Company’s reinsurance and insurance platform in Bermuda. Thomas will report to Group CEO Pina Albo and be based in Bermuda. Pending requisite immigration and regulatory approvals, her ...
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AnalysisAllianz: Five Liability Loss Trends for Businesses in the Face of the Coronavirus Pandemic
“Pricing in the liability insurance market may have turned in recent months, however social inflation trends and large court verdicts continue in the United States. This combined with expanded exposures for non-US companies doing business in the US and an increase in automotive part recalls are putting pressure on liability ...
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NewsInsurance quotes for ecommerce boomed as businesses pivoted during lockdown
Insurance quotes delivered between March and September 2020 for ecommerce businesses increased by 121% compared to the previous six months, reflecting how traditional retail organisations pivoted their operations to accommodate the Covid-19 lockdown, said business insurance specialist Superscript.
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People & OpinionNexus reorganises management team with new CEO
Managing general agent Nexus Underwriting has announced a reorganisation of its management team following the recent launch of Xenia Broking Group. As part of this reorganisation, Tim Coles is taking on the role of chief executive of Xenia Broking Group, having previously been chief operating officer of Nexus. Meanwhile, Tim ...
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NewsBritish theatres and live music venues can no longer get commercial insurance
British theatre and live music venues can no longer get commercial insurance due to the Covid-19 pandemic and are therefore calling on the government to provide a financial backstop. A handful of venues have reopened in Britain, but underwriters are excluding Covid-19 from cover meaning that there is no protection ...
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NewsOnline fraud and cyber scams soar during pandemic lockdown but insurance for it ‘fairly new’
A spike fraud and cyber scam in cases has exposed a new risk for the cyber insurance market, Insurance Times looks at what the industry is doing to protect vulnerable customers during the pandemic and why some many not be covered if they work remotely. Cyber scams and fraud have ...
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NewsIndonesia flood model launched
Climate change influences are likely to increase the impact of flooding over the near and medium term
