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UK business interruption insurance anguish far from over

The Financial Conduct Authority (FCA) said the case could affect 370,000 policyholders and 60 insurers, with the potential for billions of pounds in claims.

Many small businesses had policies that enabled them to claim a maximum of 50,000-100,000 pounds for disruption caused by the pandemic and subsequent lockdowns.

Munich Re partners with Google Cloud and Allianz for Cyber Insurance

The joint offering, achieved by linking technology with insurance know-how and facilitating the sharing of in-depth data, brings a new level of maturity to the market.

Munich Re and AGCS have developed the Cloud Protection + policy exclusively for Google Cloud customers.

The policy will initially be offered to Google Cloud customers in the United States and will be available to organisations with revenues of between US$ 500m and US$ 5bn. At a later stage, the scope will be extended to include organisations in other revenue segments and countries.

Swiss Re partners with radar satellite-based flood monitoring provider ICEYE

The partnership announced today will advance Swiss Re’s natural catastrophe services by enabling early warning systems and near real-time flood monitoring built on ICEYE’s world-leading flood monitoring capabilities with radar satellite imaging.
Pranav Pasricha, Swiss Re’s Global Head of P&C Solutions: ”By combining Swiss Re’s risk knowledge with ICEYE’s data, we will be able to further expand our capabilities in geo and remote sensing. The partnership will enable us to develop solutions, advance our services to the benefit of our clients and enable faster claims payouts. We see this as an important commitment for a serious natural catastrophe threat and think it could become a real game changer.”

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