International News

Lloyd’s to end most paper trading by end of 2019

Technology       Apr 23, 2018

  London: Most business on the Lloyd’s of London insurance market will be negotiated electronically by the end of next year, its chief executive Inga Beale said on Monday.   The largest commercial insurance market in the world still runs a trading room where thousands of brokers...

Reinsurer capacity remains stable despite 2017 catastrophe loss activity: Willis Re

Reinsurance       Apr 23, 2018

HONG KONG: 2017 saw a mixed picture for the 34 reinsurance companies tracked in the Willis Reinsurance Index, according to the latest reinsurance market report from Willis Re.Shareholders’ equity in 34 reinsurance companies tracked in the Willis Reinsurance was up 7.8% to USD 371 billion...

Australia's IAG set to sell SE Asia businesses in regional retreat: sources

Non Life-News       Apr 21, 2018

  HONG KONG/SINGAPORE (Reuters) - Insurance Australia Group (IAG.AX) is set to sell its four Southeast Asian businesses in deals that could be valued at about $500 million, under a review of its Asian operations, three people with knowledge of the matter said.   IAG, Australia’s biggest...

Fearing Collisions, Airlines Support Global Drone Registry

Risk Management       Apr 18, 2018

Montreal: Concerned by a rise in near collisions by unmanned aircraft and commercial jets, the world’s airlines back development of a United Nations-led global registry for drones, an executive of their trade group said on Tuesday.   The International Air Transport Association backs efforts by the...

Traumatic Stress Claims Expected from Southwest Airlines Engine Failure

Non Life-News       Apr 19, 2018

  Being on an airplane more than six miles in the air when an engine blows up and sends shrapnel through a window is an experience so scary that aviation lawyers say it’s not just the family of the woman killed on a Southwest Airlines Co....

Facebook Facing Potential Multi-Billion Dollar Liability in Biometric Litigation

Non Life-News       Apr 18, 2018

  Facebook Inc. may have to pay a real price for claims it invaded users’ privacy: billions of dollars.   A federal judge ruled Monday that millions of the social network’s users can proceed as a group with claims that its photo-scanning technology violated an Illinois law...

``Cloud-based office solutions under increasing attack''

Risk Management       Apr 16, 2018

New York: Specialist insurer Beazley has reported that cloud-based office solutions are coming under increasing attack from cyber-criminals. The majority of incidents involving compromised business email accounts reported to the Beazley Breach Response (BBR) Services team during the first quarter 2018 were for organizations using...

Global reinsurer capital up 2 pc to USD605 billion at December 31,2017

Reinsurance       Apr 16, 2018

  Chicago: Aon Benfield estimates that global reinsurer capital stood at USD605 billion at December 31, 2017, an increase of 2 percent relative to the end of 2016.    This calculation is a broad measure of the capital available for insurers to trade risk with.Traditional capital rose...

Rapid tech advances outpacing risk management:MARSH/RIMS

Risk Management       Apr 16, 2018

New York: Emerging technologies continue to rapidly change the way businesses operate and interact with customers, yet risk management processes are not keeping pace with the associated risks, according to a new report published today by Marsh, a global leader in insurance broking and innovative...