News – Page 77
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NewsDWIC 2022: Why takaful needs an overhaul
Inherent issues with the Takaful model continue to hinder the market’s development in the GCC
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NewsDWIC 2022: Cyber re/insurers limit exposure to ransomware
Ransomware continues to shape the cyber risk landscape, explained DWIC roundtable panellists
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NewsDWIC 2022: 800 delegates flock to conference
Arif Amiri, CEO of the DIFC Authority, officially launched the fifth Dubai World Insurance Congress 2022
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NewsPolish insurer taps Tractable’s artificial intelligence platform
Polish insurer PZU will be using Tractable’s artificial intelligence (AI) platform to create immediate end to end assessments and estimates of vehicle damage.
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NewsGallagher launches fac business in the DIFC
Gallagher has taken a majority share of 51% of ACE Re Ltd (DIFC); Its team and clients will trade as Gallagher going forward
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NewsIndependent US broker buys ‘winner’ GRP
Florida-based independent broker Brown and Brown has agreed to buy UK intermediary business Global Risk Partners (GRP), providing longer-term capital to fuel GRP’s culture-driven acquisition pipeline.
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NewsFitch warns of spillover cyberattacks
Cyberattacks on businesses and government agencies have increased following the Russian invasion of Ukraine
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NewsTrade credit insurers pull back from Russia and Ukraine
Trade credit insurers have been pulling back from insuring goods or services that are being exported to Ukraine and Russia due to the ongoing conflict, which escalated in February 2022.
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NewsUkraine crisis forces supply chains to rebuild
As nations join the wall of sanctions against Russia, its success will depend on building new lines of delivery
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NewsLloyd’s issues catastrophe warning amid sanctions move
As Lloyd’s of London was thrust into the front line of the sanctions fight against Russia, the market announced that it planned to get tough with syndicates and managing agents over their ability to understand and factor climate change into their underwriting.
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NewsGovernment to impose sanctions preventing UK insurers and reinsurers covering Russian firms
The UK government is set to bring in further legislation to prohibit UK-based insurance and reinsurance providers from dealing in financial transactions connected with Russian entities.
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NewsLloyd’s plans to be ‘magnet’ for talent following chief people officer appointment
Lloyd’s has appointed Sara Gomez as its new chief people officer (CPO).
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NewsAM Best takes negative rating action amid Russia-Ukraine tensions
Credit rating agency AM Best has placed under review the financial strength rating (FSR) and long-term issuer credit rating of several Russian insurance companies.
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NewsUkraine invasion puts cyber resilience to the test
Firms urged to improve cyber resilience as governments anticipate rise in state-sponsored attacks - MyCena
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NewsLloyd’s of London could face ‘sizeable’ hit from Russia-Ukraine war
Lloyd’s of London could be facing a “sizeable” loss from its $2bn share of the political risk insurance market during the ongoing Russian and Ukraine war.
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NewsInsured losses from Storms Dudley and Eunice predicted to reach up to €4.5bn
The global insured losses arising from Storms Dudley and Eunice, which hit the UK in February 2022, are expected to reach between €3bn (£2.5bn) and €4.5bn (£3.7bn), according to risk modelling firm RMS.
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NewsBeazley partners with Lloyd’s Lab alumni on IVF insurance proposition
Beazley has partnered with Lloyd’s Lab alumni and insurtech Gaia to offer a new insurance solution for individuals undertaking in vitro fertilisation (IVF) treatment.
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NewsBeazley targets cyber book growth in 2022 following increased customer demand
London market insurer Beazley is geared up to grow its cyber book in 2022, aiming for premiums in this line to “represent more than 15% of our business”, according to chief executive Adrian Cox.
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NewsTop 10 cyber incidents last year cost firms $600m
Cyber threats are more common, more dangerous and more destructive than ever before - Tokio Marine HCC International
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NewsFCA urges firms to beef up cybersecurity amid Ukraine tensions
Businesses must take a more active ‘defence-in-depth’ approach to combat ransomware reprisal attacks
