WMO says that naturally occurring climate events such as La Nina...
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Aon appoints Bonjay Koo as Enterprise Client Leader for South Korea
Aon plc today has appointed Bonjay Koo as Enterprise Client Leader,...
Cashless Chaos: AHPI asks 7 health insurance firms to revoke suspension, create affordable & sustainable model
Niva Bupa Health Insurance on Monday said it has suspended the...
Reinsurance market continues to recalibrate at mid-year 2023 renewals: Guy Carpenter
The preliminary year-to-date Guy Carpenter US Property Catastrophe Rate on Line Index, an alternative measure of price change that incorporates the impact of structural adjustments and current views of risk on actual dollars paid, increased 35 percent for January...
Cyber Insurance: Global premiums could exceed $50 billion by 2030, predicts Howden
Dan Leahy, Associate Director, said: “Having navigated the early phases of development that often come with new, fast growing lines of business, the cost of cyber insurance is now more commensurate with loss costs following the recent correction. Whilst the first half...
Reinsurers’ discipline continues at 7/1 renewal: Gallagher Re
Tom Wakefield, Global CEO Gallagher Re, said: “With the improved terms and conditions available in the reinsurance market, some existing reinsurers are leaning into the hardening market, committing more of their existing capital, as well as any new capital they are...
Howden appoints Rowan Douglas as CEO, Climate Risk and Resilience
Rowan Douglas as CEO, Climate Risk & Resilience Howden’s climate and resilience capabilities will span physical risks, the risks associated with de-carbonisation, the wider risks stemming from the low carbon transition and growing legal liability risks faced by...
APAC sees economic loss of $ 80 billion and $11 billion insured claims out of catastrophes and natural disasters in 2022
George Attard, chief executive officer, Reinsurance Solutions, Asia Pacific at Aon said, "The extreme weather in the region throughout the year highlights the continuing need to strengthen resilience by adopting effective adaptation and risk management strategies....
`Insurance Bill, 2023′: Govt drops major reform plans for Indian insurance sector
In a surprising development, The Insurance Bill, 2023,’ drafted by the department of financial services(DFS) and now may be ready to be presented in the monsoon session of the Parliament, has no mention of any proposals relating to much talked about new systems like...
Canada energy sector under threat from Russia-aligned hackers, spy agency says
The Communications Security Establishment (CSE) signals intelligence agency said Russia had repeatedly deployed destructive cyber attacks against its adversaries as geopolitical crises escalate Russia-aligned hackers could seek to disrupt Canada’s powerful oil and...
Marsh McLennan to work with Ukrainian government to unlock access to global insurance market
It follows the proposals that Marsh McLennan has made to Ukrainian and G7 governments for the creation of a war risk insurance pool. This would be a multinational public-private partnership based on the existing terrorism insurance pools that currently operate in...
Transformative industry trends present $200 billion opportunity for re/insurers: Aon Report
Sherif Zakhary, CEO of Aon’s Strategy and Technology Group, said: “These megatrends each equate to risk and opportunity for the global insurance industry, and so as risk experts we cannot afford to sit on the sidelines and wait for these trends to crystalize. We have...
Climate-attributed U.S. Hurricane losses to increase by at aeast 10% over 20 yrs under selected scenarios: Aon
Aon plc has revealed how its academic collaborations are progressing climate science, enhancing catastrophe model development and helping organizations to fulfill Environmental, Social and Governance (ESG) mandates The 14 global academic collaborations are bringing...