Reinsurance

Climate change risk will have transformative effect on Energy sector, Willis Towers Watson

International News       Apr 16, 2020

  SINGAPORE: Climate change and Environmental Social Governance (ESG) will transform the energy industry risk landscape, according to Willis Towers Watson, a leading global advisory, broking, and solutions company, at the launch of its annual Energy Market Review. Additionally, the recent oil price war and the...

Health and motor insurance renewal date further extended till May 15

Indian News       Apr 16, 2020

  New Delhi: The Centre has allowed health and motor insurance policyholders to defer payment of their renewal premium falling due during the period of the ongoing lockdown that has been extended till May 3.   The finance ministry in a revised notification on Thursday has now...

Most small UK companies have no pandemic insurance - watchdog

International News       Apr 15, 2020

LONDON: Most insurance policies bought by smaller companies do not cover for disruption caused by the coronavirus pandemic, Britain’s Financial Conduct Authority said on Wednesday.The watchdog also told banks they must designate a senior manager accountable to the regulator for ensuring that their lending to...

Bermuda’s “resilient” re/insurance market continues to meet global clients’ needs amid COVID-19

International News       Apr 15, 2020

Hamilton, Bermuda: Bermuda’s leading insurers and reinsurers are meeting clients' needs globally and demonstrating robust “operational resilience” during the COVID pandemic.   As testament to the industry’s agility, the Association of Bermuda Insurers & Reinsurers (ABIR) held its first virtual board meeting recently with more than...

COVID-19 response ‘could bankrupt the insurance industry’: insurance defense lawyer

Articles       Apr 15, 2020

  By Alison Franke For Steven Badger of Zelle, who specializes in representing commercial insurance companies in coverage disputes with policyholders, business has never been better. It’s a peculiar quirk of his practice that disasters breed demand for his services – and for the insurance industry,...

Miller modernises yacht insurance with innovative quote and bind platform

International News       Apr 14, 2020

  London: Miller Insurance Services LLP (Miller) has launched a pioneering new quote and bind platform-Atlantic- providing a more sophisticated approach to the submission, placement and management of yacht policies.   Designed for intermediaries across the globe, Atlantic handles full binder, limited authority and facultative open market...

Bo Yu, Claims Lead,Asia,Markel International

Markel International appoints Bo Yu as claims lead for Asia

International News       Apr 13, 2020

  London: Markel International, the specialist insurer, has recently appointed Bo Yu as claims lead for Asia.   In this role, Bo will be the first point of contact for all claims arising through Markel’s offices in Singapore, Hong Kong, India and Labuan. He will work closely...

Cyber Security&Covid-19

Articles       Apr 12, 2020

  By John Coletti & Aaron Aanenson With the ongoing spread of coronavirus, government guidance is changing rapidly. In many countries, healthy individuals are being asked for the first time to avoid unnecessary public exposure, for example at large gatherings, on public transport … and in...

Insurers return part of auto premiums as coronavirus cuts driving

Facts       Apr 09, 2020

Major U.S. insurers are offering credit to auto and motorcycle policyholders following a decline in driving, as most Americans stay at home to help contain the spread of the novel coronavirus.   Following is a list of companies, in alphabetical order, which have offered to return...

Multiple billion-dollar severe weather outbreaks affect the U.S. during March, Aon cat report

International News       Apr 09, 2020

  CHICAGO: The monthly Global Catastrophe Recap report by Aon plc,evaluating the impact of the natural disaster events that occurred worldwide during March 2020,reveals a total economic losses in excess of USD1.1bn, with roughly three-quarters of the total covered by insurance.   Steve Bowen, Director and Meteorologist...