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‘Long COVID’ may obstruct return to normal life for 36 million Europeans: WHO
Over the first three years of the global health emergency, 36...
New rules aim to clamp down on corporate greenwashing
The norms published on Monday have been written by the...
Global Claims: APAC accounts for 17 % of total value, fires & explosions cause largest losses for business: Allianz
“The report highlights the increasingly high values at risk for businesses and their insurers alike,” says Philipp Cremer, Global Head of Claims, AGCS. “In today’s interconnected and globalized business environment, financial losses are increasing due to geographical concentration of values – often in risk-exposed areas – and from the knock-on effects of global supply chains and networks. Looking to the future, new technologies bring business benefits but also risks and claims. However, they also provide an opportunity to prevent and mitigate losses and improve the claims settlement process for our customers.”
Peak Re launches first Asian reinsurance sidecar transaction
The establishment of this special financial structure, commonly known as a “reinsurance sidecar”, allows investors to take on the risk and benefit from specific books of an insurance or reinsurance company
Next generation of combustion engines, in 2026, to be the last: Volkswagen
Wolfsburg, Germany: Volkswagen's strategy chief said on Tuesday the German carmaker's core brand will develop its final generation of vehicles using combustion engine technology in 2026. Volkswagen made a strategy shift towards...
AM Best revises 2019 Global Reinsurance Outlook to Stable
OLDWICK, N.J: AM Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019, citing factors stemming from a growing alignment between traditional and third-party capital among non-life reinsurers. A more-stabilized...
Jack Ma is using sports data to change the way people shop
Using marathons as a guinea pig, it’s scooping up broadcast rights and collecting information on participants and viewers to sell them everything from running shoes to health insurance.
Marriott CFO says too early to estimate Cyber Breach costs
The company could face $200 million in fines and litigation expenses, and could spend about $1 per customer notifying victims and providing free data monitoring services, according to a note last week from Morgan Stanley.
Insured losses from California Wildfire Between $6 bn and $9 bn: AIR Worldwide
The fact that damage from fire, including wildfire, is included in standard homeowners’ policies in California informs the assumption of nearly 100% take-up rates. The range of loss estimates is based on the modeled loss within the burn scar and reflects uncertainty in the payment of additional living expenses resulting from mandatory evacuations, loss of some individual structures outside of the most affected neighborhoods, extra expense and ordinance losses, as well as loss due to smoke, loss of electricity, and damage from suppression efforts.
Actuaries face uncertainty amid encroachment by Data Scientists
Seasoned actuaries often earn more than $200,000, and the field perennially ranks near the top of “best career” surveys. A Bankrate.com survey from this summer called actuarial science the most valuable bachelor’s degree based on pay and employment. However, industry conventions are rife with warnings that data scientists are encroaching on actuaries’ turf, and that their lack of speaking skills keeps them locked in bookish roles at insurers.
Self-Driving Vehicle Regulation Bill gets late push in US Senate
Under the legislation, automakers would be able to win exemptions from safety rules that require human controls. States could set rules on registration, licensing, liability, insurance and safety inspections, but not set performance standards.
Early diagnosis of disease to drive future life expectancy, Swiss Re
Digital health tools like telemedicine and wearables can play an important role in driving future mortality improvement. These technologies not only improve access to care but also encourage healthcare markets to compete for lower, more affordable options.