Zug, Switzerland-based Allied World Assurance Company Holdings, AG announced on Thursday that its suite of trade credit and political risk insurance products are now available in Canada, as part of the Global Crisis Management Division (GCMD). The coverage helps clients…
Integro Ltd. has introduced exclusive professional liability/errors & omissions insurance coverage to help protect healthcare institutions with self-insured professional liability programs from claims-handling exposures inherent in adjusting medical malpractice claims. The coverage – underwritten by London-based Cove Program Underwriters –…
Provisional calculations indicate Munich Re will post a consolidated result of 3.1 billion euros for 2015, down just slightly from what was regarded as the very good result of 3.2 billion euros in 2014. Provisional calculations show that in the…
The pace will slow from 2015, but mergers and acquisitions (M&A) activity and consolidation in the Bermuda insurance market will continue in 2016, notes a new report issued this week by Fitch Ratings. “Organic growth options are limited and scale…
A.M. Best has placed under review with negative implications the issuer credit rating (ICR) of American International Group, Inc. and the financial strength ratings (FSR) and ICRs of its insurance subsidiaries. “The under review status reflects the strengthening of loss…
The ratings outlook for 120 oil & gas and 55 mining companies is being reconsidered, with Moody’s Investors Service announcing Friday that it has placed the ratings on review for downgrade. The reviews “reflect a mix of declining prices that…
The Rockefeller Foundation, Veolia and Swiss Re Corporate Solutions Ltd. have unveiled an infrastructure recovery initiative meant to help cities worldwide build resilience to critical risks and speed up economic recovery following catastrophic events. The partnership is designed to support…
Property and casualty insurers in the United States can expect a challenging 2016, speakers said at the recent 20th annual Property/Casualty Joint Industry Forum, as the diminishing tailwinds of reserve releases struggle against headwinds of low interest rates. Panel members…
The insurance industry now has a global cyber exposure data standard. The standard will help create a uniform method for data transfer across the insurance value chain, Verisk said in a press release. Verisk’s catastrophe modelling business, AIR Worldwide, has…
Infectious disease outbreaks that turn into epidemics or pandemics could cause trillions of dollars of damage to economic activity and kill millions of people, said a report released this week by the international independent Commission on a Global Health Risk…
Catastrophe bond issuance activity by new limit fell approximately 25% year over year in 2015 to US$6 billion, while issuance of catastrophe bonds including coverage for Canada witnessed a shift, notes a new report issued Wednesday by Property Claims Services…
Despite reinsurer capital being down 2% to US$565 billion in the third quarter of 2015 compared to year-end 2014, Aon Benfield’s outlook for Apr. 1, 2016 reinsurance renewals is positive, with insurers expected to see improvements in pricing terms and…