Some interesting manoeuvers can be expected as reinsurers seek to hold or grow their share of signings in the forthcoming renewals, Nick Frankland, CEO of Europe, Middle East and Africa (EMEA) operations for Guy Carpenter & Company, LLC, suggested Sunday during…
With insurers and customers alike still not fully understanding cyber risk and how damaging it could prove, Paul Schiavone suggests pre- and post-event services associated with cyber policies are becoming increasingly important to customers. “Unlike other insurance products that we…
Water scarcity is leading to risks and exposures for businesses worldwide, necessitating that organizations put in place appropriate water management plans, argues a white paper issued Tuesday by Zurich Insurance. Businesses around the world are feeling the strain of water…
Emerging economies – with Syria, Venezuela and Zimbabwe topping the risk list – are expected to experience a difficult stress test in the year ahead, although a repeat of the emerging markets crises of the late-1990s is unlikely, notes a…
Willis Group Holdings plc has announced a $1 million commitment from the global risk advisory and re/insurance broking firm to help mobilize a new multi-party Resilience Modelling and Mapping Forum that will focus on addressing natural catastrophe risk. The announcement,…
Continued benign loss environment and strong performance by select publicly traded reinsurers in the first half of 2015 resulted in a healthy increase in average share price, but those positives seem to be giving way to challenges afoot in the…
The transforming Hurricane Joaquin slowly tracking through the Bahamas is reminiscent of Hurricane Irene four years ago, but the latest storm is affecting Bahamian islands where insurance up-take is low, which will help limit insured losses, suggests a statement issued…
Zurich Insurance Group has announced it currently estimates aggregate losses of about US$275 million in connection with mid-August’s series of explosions at a container storage station in the Port of Tianjin in China. The US$275 million estimate for Tianjin losses…
The global market value of auto insurance premiums last year rose to US$669.7 billion in gross written premiums GWP) and is expected to continue growing in most countries up to 2018, notes a new report issued Monday by U.K.-based Finaccord.…
The U.S. Geologic Society is reported to have made a loss estimate from the 8.3-magnitude earthquake in Chile on Sept. 16 – emphasizing it is early on and the range is far from concrete – of as much as US$1…
Surveyed insurance executives understand the importance of innovation to drive future competitive advantage and growth, but most are struggling with making that goal a reality, reports KPMG International. A new report released Thursday, A new world of opportunity: The insurance…
A third of respondents to a global Kaspersky Lab survey who suffered a malware infection also experienced a financial loss, averaging US$160. “Victims spent money on professional repairs, software to eliminate the effects of an infection, and some even had…