News – Page 152
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NewsAllianz Benelux and Monument Re Announce Closed Book Portfolio Transaction
Allianz Benelux (Belgium) and Monument Re have agreed today to transfer a closed book of classical life retail insurances together with 4.500 mortgage loans to Monument Assurance Belgium (MAB) and to transfer the related operations within 18 months after regulatory approvals.
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NewsFrom Africa to America, businesses and insurers face survival showdowns
Businesses around the world, hamstrung by lockdowns, are facing often-existential showdowns with insurance companies that are reluctant to pay out on business interruption policy claims for a disaster unknown in living memory. The insurers say many such policies exclude pandemics, require physical damage on premises or do not apply to ...
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NewsQBE gives back over £10 million to motor fleet customers affected by lockdown
QBE has rebated £10.6 million in motor premiums to date to their motor fleet customers who have taken vehicles out of service during the Covid-19 pandemic.
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NewsNexus combines acquired trade credit brokers under single Xenia brand
Xenia is aiming to become the world’s leading trade credit distributor
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NewsHurricane Isaias claims up to $5 billion - RMS
Isaias was the ninth named storm of the 2020 North Atlantic hurricane season, affecting parts of the Caribbean and US east coast
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FeaturesAsian economies contract post COVID-19
Trade credit insurer Atradius has analysed the impact of the coronavirus pandemic on five Asian markets - India, Japan, Indonesia, Thailand and Vietnam - revealing economic contraction, sharp swings in export rates and a rise in business insolvencies.
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NewsWinterstorm Victoria insured loss rises to €344m
The storm, also known as “Dennis”, affected the British Isles and north-western Europe from 15 to 17 February 2020 and occurred six days after extratropical cyclone Sabine
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NewsMore woes for travel insurers and customers as Covid corridor to France shuts
Those travelling from France and a series of other countries will have to quarantine upon returning to the UK
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ViewpointsLong-term governance failures caused Beirut blast
Governmental shortcomings were to blame for the explosion in Lebanon, according to risk experts, who say lessons can be learned from the incident
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NewsMauritius: ‘Most of the oil’ removed from damaged ship
Japan P&I Club, the only organisation in Japan that underwrites protection and indemnity (P&I) insurance for ocean-going vessels and coastal ships, said it had yet to estimate the cost of the clean up. “We are trying to make internal estimates under different scenarios …including the worst and the best, but ...
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NewsBusiness owners can sue insurer over COVID-19 losses: US judge
A federal judge in Missouri said on Wednesday that a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they say caused a “direct physical loss” to their premises.
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NewsQBE reveals $335m Covid-19 hit in half year results
QBE has taken a $335m underwriting hit as a result of the Covid-19 pandemic over the course of the first six months of 2020.
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NewsNeil Utley set for £70m windfall from Hastings sale
Former Hastings chairman Neil Utley is set to make more than £70m after Finnish insurer Sampo and existing investor Rand Merchant Investment Holdings Limited (RMI) announced they were launching a £1.7bn bid to buy the business for 250p per share.
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NewsSaudi Re signs contract with Malath Insurance
Saudi Reinsurance Company (Saudi Re), announced the signing on an exclusive reinsurance contract with Malath Insurance Company, on behalf of the Saudi insurance industry, to provide reinsurance coverage on the Inherent Defects Coinsurance Programme.
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NewsZurich Insurance operating profit falls 40% after COVID-19 hit
ZURICH (Reuters) - Zurich Insurance’s (ZURN.S) first-half operating profit fell 40% to $1.7 billion, the Swiss company said on Thursday, as payouts linked to the COVID-19 pandemic and weaker financial markets dented its business.
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NewsUK life insurers pay 90 million pounds in COVID-19 claims - trade body
British life insurers paid 90 million pounds in claims related to deaths from the COVID-19 pandemic in the three months to end-May, the Association of British Insurers (ABI) said on Thursday.
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NewsEurope Relaunches the idea of a ‘Pandemic Risk Pool’. Eurochambres Signs a Memorandum of Understanding with Generali to promote it
The participation to the ‘Pandemic Risk Pool’ project is expected to be broadened to involve European institutions, EU Member States and other leading European players in the creation of Public-Private Partnerships and mechanisms that will provide a buffer against future risks.
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NewsSwiss Re Institute estimates global insured catastrophe losses of USD 31 billion in first half of 2020, mostly from secondary perils
Global economic losses from natural catastrophes and man-made disasters in the first half of 2020 were USD 75 billion, according to Swiss Re Institute’s preliminary sigma estimates.
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NewsLloyd’s Lab selects ten new InsurTechs for fifth cohort focused on COVID-19 risks
More than 140 applications were received from across the world for the fifth cohort of the Lloyd’s Lab, which begins 7 September 2020.
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NewsSCOR collaborates with Verisk to develop the EHR Triage Engine for the US Life Underwriting Market
In an era of increased amounts of electronic data and competitive advantages of fast underwriting decisions, SCOR recently partnered with Verisk, a leading data analytics provider, to develop a new tool that helps Life insurers to fast track applications, by using data from consumer-authorised electronic health records (EHRs). ...
