International News

Aon launches cover for intangible assets

Non Life-News, Reinsurance       Nov 20, 2018

  LONDON:  Aon plc today announces the launch of a new Non-Damage Business Interruption (NDBI) cover that is designed to protect the income streams of the growing number of companies with high levels of intangible assets.   NDBI policies protect companies’ revenues against business interruption costs that...

Asia led by China and India will drive global insurance growth:Swiss Re  

Economy, Life-News, Non Life-News       Nov 20, 2018

  London: Global economic growth will remain strong over the next two years, although momentum has peaked. Swiss Re Institute's latest sigma "Global economic and insurance outlook 2020" says the still-positive economic momentum will support the insurance sector, with global premiums up more than 3 per...

RMS estimates insured losses from California wildfires to be between $9 Bn and $13 Bn

California wildfires in Newark, C.A:- RMS, a global risk modeling and analytics firm, has estimated that the insured loss for the Camp and Woolsey wildfires in California will be between USD $9 and $13 billion ($7.5-$10 billion for Camp; $1.5-$3 billion for Woolsey). The estimate...

China moves closer to allowing foreigners to control insurance ventures: sources

Economy, Health, Life-News, Non Life-News, Policy       Nov 20, 2018

   HONG KONG/BEIJING: China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said.   The regulator is expected to...

Boeing defends 737 safety as first U.S. lawsuit filed over Lion Air crash

Non Life-News, Reinsurance, Risk Management       Nov 16, 2018

  Boeing Co. has been sued in what may be the first U.S. claim tied to the crash of Lion Air Flight 610, which dove into the Java Sea after taking off from Jakarta Oct. 29. Irianto, the father of Dr. Rio Nanda Pratama, an Indonesian...

Willis Towers Watson launches benchmarking service to help insurers improve claims handling & profitability

Non Life-News, Reinsurance       Nov 15, 2018

  LONDON: Willis Towers Watson today announces the launch of Claim Metrics, a bespoke claims benchmarking solution for UK personal lines insurers. The service provides claims leaders with a unique tool for identifying performance improvements, as well as offering underwriters, pricing teams, actuaries and senior management...

U.S. Residential Solar Projects Turn to Output Insurance

Climate Change, Economy, Non Life-News, Reinsurance       Nov 15, 2018

   A tool designed as an insurance policy for solar-power generation will be used to manage the risk associated with U.S. residential systems for the first time as part of a financing agreement backing 4,000 projects in the Northeast.   Investment in the 35 megawatts of capacity...

Global accounting body proposes one-year delay to insurance rule

Regulation       Nov 15, 2018

  LONDON : A global standards body has proposed a one-year delay to implementing its new accounting rule aimed at increasing visibility in how insurers earn money, after the industry said it needed more time to prepare for such a sweeping change.   A spokeswoman for the...

Draft Brexit deal ends Britain's easy access to EU financial markets

Economy, Life-News, Non Life-News, Risk Management       Nov 15, 2018

  LONDON: The United Kingdom and the European Union have agreed a deal that will give London’s vast financial center only a basic level of access to the bloc’s markets after Brexit. The agreement will be based on the EU’s existing system of financial market access...

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