Median home insurance premiums surged 28% to A$1,894 ($1,240) in...
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Ships backed up in Black Sea lanes as Russia warning shots raise tensions
Firing on a merchant vessel will ratchet up already acute concerns...
Montana judge hands historic win to young plaintiffs in climate change case
The decision by Judge Kathy Seeley in Helena marked a major victory...
Willis Towers Watson launches innovative risk advisory service
John Merkovsky, Head of Risk and Analytics at Willis Towers Watson, added “’Today’s risk manager and CFO have only been able to view risk financing as individual transactions, compartmentalised by line of business. Connected Risk Intelligence is a combination of advanced modeling technology and our own optimisation expertise which will revolutionise the way organisations view risk management.
Global reinsurance market to see consolidation, product & service innovation:S&P
S&P Global Ratings believes that these factors will continue to push the sector to evolve, forcing market consolidation, product and service innovation, expansion of product offerings, and reimagining of the re/insurance value chain. Indeed the market may look different, but it could be a long time before the competitive landscape changes.
ArgoGlobal Syndicate 1200 to exit Asia
All existing policies remain valid and the company will manage claims handling through its London operation.
Hurricane Dorian slams Bahamas, Florida,expected industry losses range between $11.3bn to $37.2bn
Industry loss estimates are currently sitting in a range from $10 billion to as much as $25 billion (perhaps even $30 billion according to some new runs we’ve seen), which aligns with these analogue storms RMS has highlighted
Swiss Re topples Munich Re as the largest global reinsurer in 2018:AM Best
For GIC Re that has retained its 11th ranking , the reinsurer’s total premium of over Rs 44,000 crore during 2018-19 has been factored in while finding its global ranking
Silent-cyber claims expectations decline across insurance lines and industry groups:Willis Re
Silent cyber risk refers to cyber losses which affect insurance policies that have not been specifically designed to respond to cyber incidents.
Philippines Insurance Commissioner Dennis B. Funa elected as Asian Re chairman
Besides the Philippines, the Asian Re has nine other member-states from the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), namely: Afghanistan, Bangladesh, Bhutan, China, India, Iran, South Korea, Sri Lanka and Thailand.
Tesla rolls out insurance in California
Chief Executive Elon Musk has been one of the strongest proponents of the idea that car insurance rates should plummet as driver-assist and self-driving technology become standard. Tesla said rates of its new plan were as much as 20% lower than those of rivals but did not provide comparisons.
More favorable pricing permeates global reinsurance industry, but is it sustainable
Third-party capital continues to proliferate as investor interest has increased alongside more varied reinsurance structures, and has become more closely aligned with traditional reinsurance capital. Despite the capital markets’ increased influence, dedicated reinsurance capacity essentially remained flat in 2018, at $436 billion, with a single-digit percentage increase in convergence capital to $95 billion from $87 billion in 2017.
Allianz Australian unit to refund customers for insurance mis-selling
ASIC said Allianz incorrectly sold insurance cover to people ineligible to claim for unemployment or disability, and death cover to customers under 21 years of age who were unlikely to need it.