Reinsurers sought to “tidy up” contracts during January’s renewal season, sometimes to the detriment of possible rate increases, raising questions for insurers as to how to cover excluded risks.
Hélène Galy, managing director of Willis Towers Watson’s Willis Research Network, considers the growing threat of cascading risks.
Policymakers and business leaders need to pay greater attention to low-likelihood, high-impact risks, panellists warned at the launch of the World Economic Forum’s annual Global Risks Report on Tuesday.
For the first time in a generation a hard market is truly here to stay. As many start to learn what this really means, Post takes a look at the impact on the market and how risk management might make the difference when it comes to coverage.
For a sixth year running, Post content director Jonathan Swift scans the insurtech space and identifies up-and-coming businesses potentially worth watching over the next 12 months.
David Coleridge, who was chairman of Lloyd’s for two tumultuous years in the early 1990s, passed away on Boxing Day, aged 88.
The 2020 hurricane season was unprecedented, both due to the number of storms and because it coincided with a global pandemic. Post spoke to McLarens’ Kieran Gallagher, executive director, and Dave Watts, executive adjuster and head of home foreign,…
It is not just low-value claims that can benefit from technology – data analytics has an important role to play in major and complex loss, argues Neil Baldwin, McLarens executive director.
The Prudential Regulation Authority will “sharpen” its focus on financial lines insurers and those with a material exposure to man-made catastrophe risk, in addition to advising insurers to revisit how they approach contract uncertainty, the regulator…
Lawyers suggested experience will trump "ego" after it emerged two of the judges on the Supreme Court business interruption test case panel oversaw rulings on Orient Express, a case that has been hotly contested during proceedings between the Financial…
It is the year 2030 and the last decade has seen the insurance eco-system evolve as quickly in 10 years as it had previously done in the last century.
Insurers will come under increasing pressure to demonstrate their pro-active engagement with the need for effective action to tackle global warming. Fine words, grand gestures and clever marketing will not be enough. Meaningful, effective action will be…
Total Covid-19 losses remain an unknown, leading to greater complexities and individual approaches at 1 January reinsurance renewals, Guy Carpenter has cautioned.
Munich Re expects its losses from August’s warehouse explosion in Beirut and a trio of recent North Atlantic hurricanes to both reach “low triple-digit million euro” sums.
Early estimates of the insured losses resulting from Hurricane Laura range from $4bn to $12bn, with the damage concentrated in southern Louisiana.
Updated: Over one million homes at risk as Hurricane Laura brings ‘unsurvivable’ storm surge to US Gulf Coast
Hurricane Laura, which made landfall in Louisiana early this morning as a category-four storm, has the potential to impact 1.1 million homes worth $265bn in terms of reconstruction cost value, according to Core Logic.
PREMIUM: The insurance industry has suffered very large losses from natural disasters over the past two centuries and this still remains a problem today, with 409 natural catastrophe events totaling $232bn in losses in 2019. Post looks at some of the…
Lloyd’s syndicates’ plans for 2021 include £11bn of fresh business, but some will be told that they must continue to focus on performance over growth as the market looks to “finish the job” it embarked on 2018 of turning around its profitability woes.
Tiger Risk has appointed Juan England as a partner with a mandate to help develop large, multi-regional clients in Europe and other international markets, the fourth recruit of the month for the rapidly expanding broker.
Perils has pegged insurance and reinsurance industry losses for Australian bushfires at A$1.86bn (£1.03bn)
The coronavirus pandemic has had a bigger impact on claims handling than other natural disasters, with the average time to contact policyholders after a claim up 55% compared to normal levels, a conference heard.
The effects of climate change, such as rising sea levels and above-average temperatures, have long been apparent, however Swiss Re’s CEO, Tava Madzinga argues the resulting risk landscape is now more dynamic than ever.
Very few people have 20/20 vision and there is no exception to this when looking forward to what impact the year 2020 will have on the reinsurance market writes Gavin Coull, London Forum of Insurance Lawyers executive committee member and partner at…