News – Page 150
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NewsBriefing: Why insurance is key to economic recovery post-Covid-19
Insurance cover is a great enabler of economic activity, allowing businesses to carry out their trade, innovate and drive growth. Without that protection provided by policies, the risks for many would simply be too great. That is not to say that insurers can carry on operating in the same way ...
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NewsAlphabet’s Verily targets employer health insurance with Swiss Re partnership
Alphabet Inc’s life sciences division Verily is partnering with reinsurer Swiss Re to launch a unit to provide stop-loss insurance, a financial product purchased by employers to cover unexpected and large employee healthcare costs.
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ViewpointsHurricane Laura Losses Could Further Stress Insurers’ 2020 Earnings
AM Best expects losses from Hurricane Laura to stress its rated insurance companies’ balance sheets, which already have been weakened by the COVID-19 pandemic.
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NewsAon and Willis Towers Watson merger seals shareholder approval
Aon and Willis Towers Watson have announced that their respective shareholders have approved the merger of the two businesses at their extraordinary general meetings and at the special meeting of Willis Towers Watson shareholders ordered by the High Court of Ireland.
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NewsMarsh subsidiary Torrent Urges Congress to Extend National Flood Insurance Program
In a new report published today, Marsh subsidiary Torrent Technologies, a flood insurance technology and servicing company and direct servicing agent of the National Flood Insurance Program (NFIP), highlights the need for public and private sectors to take collaborative action now to mitigate catastrophic flood risk.
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NewsAXIS Partners With New MGA AllDigital Specialty to Launch Online Platform for Small Business Management Liability Market
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS), and AllDigital Specialty, a de novo MGA, today announced a partnership to develop and launch a new insurance platform designed to address the service void in the U.S. small private company management liability market. AllDigital ...
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NewsData leaks surge almost 500% during pandemic
12 billion records were exposed in the first half of 2020. More than the total number of records leaked during the whole of 2019
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ViewpointsBriefing: Covid-19 - a ‘manageable’ global catastrophe?
A newfound wind of confidence is in the air. The catastrophic, game-changing event to end all events – namely Covid-19 – has now been relegated to a “manageable” loss. That seems to be the growing consensus among analysts and industry consultants.
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AnalysisInsurance resilience tested by Covid-19 as global protection gap climbs to $1.24trn
Covid-19 is expected to hit global financial resilience hard, with research from Swiss Re forecasting a 20% drop in global resilience as a result of the pandemic as stimulus packages deplete economies’ fiscal and monetary headroom.
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People & OpinionLiberty Specialty Markets expands Casualty underwriting team
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed two underwriters to its Casualty team.
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People & OpinionBerkshire Hathaway Specialty Insurance Names Dr. Carsten Keune as Head of Executive & Professional Lines in Germany
Carsten has more than twenty years of industry experience. He was most recently Head of Global Commercial Lines Underwriting at ERGO.
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NewsChief ‘flexibility’ officer: COVID-19 forcing CFOs to become ‘change agents’ and ‘strategists’
According to a recent survey by Grant Thornton LLP, COVID-19 has forced chief financial officers (CFOs) to become “change agents” and “strategists” — while still overseeing their day-to-day finance responsibilities.
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NewsMonument Re Acquires LCL International Life Assurance Company and Isle of Man Operations From Charles Taylor Group
Monument Re announced today that, subject to regulatory approval, it has agreed to acquire Charles Taylor Group’s Isle of Man operations, which principally comprises its life insurance company, LCL International Life Assurance Company Limited and Charles Taylor Holdings (IOM) Limited. Financial terms of the transaction were not disclosed.
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AnalysisCOVID-19: Political and economic outlook deteriorates
The COVID-19 pandemic’s economic and social impacts are driving significant shifts in global political risk - Marsh JLT Specialty
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AnalysisThis year’s half-year financial results littered with Covid-19 complications
As the Covid-19 pandemic incessantly continues to rumble on, insurers and brokers have been forced to acknowledge the financial fallout caused by the virus as half year results published last month paint a vivid picture of how Covid-19 has affected profits, losses and reserving measures.
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ViewpointsRisk managers must heed COVID supply chain lessons
Among the key lessons from the crisis, RQA Group says there will be a move towards shorter, more localised supply chains and less reliance on the Far East
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AnalysisFCA investigates 165 Covid-19 scams
The data collection exercise further revealed that the types of scams that have been popular during the Covid-19 pandemic are typically communicated using emails, phone calls, text messages, letters and social media.
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AnalysisAmbiguity in BI policy wordings is ‘natural’ following ‘black swan’ Covid outbreak
The ambiguity in business interruption (BI) policy wordings related to Covid-19-based claims is “natural”, however this debate should be used as a catalyst for the insurance sector to proactively review contract small print in order to eliminate unclear phrasings that may prove problematic for insurers if applied to future “black ...
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AnalysisPolicies will need to adapt to changing risks brought about by Covid says analytics firm
Insurance policies will need to change in order to reflect the fluctuating risk environment created by the Covid-19 pandemic, while new products centred around remote working, for example, will become more common, according to data and analytics firm GlobalData.
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NewsICA launches BI test case in NSW Supreme Court
Outcome will be used to determine complaints arising from COVID-19 related business interruption claims
