Insurance losses resulting from severe weather conditions from 19-21 January in Australia, are estimated to be A$514m (£269m), according to the Insurance Council of Australia
Insurers need to make further efforts to focus on the customer and build trust if they are going to address the $1.2tn (£920bn) global protection gap, a conference heard.
Risk managers have never been busier, Zurich’s group chief risk officer Peter Giger said, as he urged businesses to address environmental risks sooner rather than later.
Environmental and climate-related risks have topped the World Economic Forum’s rankings of long-term global risks ahead of the organisation’s annual meeting of political and business elites in Davos next week.
Insured losses resulting from bushfires ravaging the Australian states of New South Wales, Victoria, Queensland and South Australia are estimated to have reached A$995m (£524m), according to the Insurance Council of Australia.
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
Insurance losses resulting from months of deadly bushfires in Australia are estimated to be A$431m (£228m), according to the Insurance Council of Australia.
Victor Insurance will operate at Lloyd’s as a “virtual syndicate” writing follow-on business as it looks to provide its capital partners opportunities to participate in risks around the world.
Victor Insurance is set to establish a syndicate at Lloyd’s and will commence underwriting with a capacity of £57m on 1 January 2020.
The outlook for the global property and casualty insurance sector is stable based on economic growth, good insurance capitalisation and positive P&C pricing trends, Moody's has said, as it flagged continuing catastrophe exposure.
Scor launched a three year contingent capital facility in form of a contingent equity line, providing the group with €300m (£254.6m) coverage in case of extreme natural catastrophe or life events impacting mortality.
Munich Re reported "relatively high" man-made major loss claims, which were more than four times the hit it took in Q3 last year.
2018 was a volatile year for Asian insurers with the majority of them posting declines in gross written premium or sluggish growth. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, explains the challenges they are facing.
Hiscox has reserved $165m to cover claims from Hurricane Dorian and Typhoons Faxai and Hagibis, while reporting it expects to see fees and profit commissions dip $25m this year.
Swiss Re has cancelled a share buy-back programme, following a hit from natural catastrophes, capital deployment and the suspension of Reassure's initial public offering.
The size and complexity of cyber perils are constantly increasing and pose a major challenge to insurers and insureds alike as they attempt to assess potential cyber losses.
Lloyd’s Charities Trust has joined forces with Habitat for Humanity Great Britain as part of its ongoing response to emerging risks to communities around the world.
Sedgwick loss adjusters arrived on Great Abaco Island in the wake of Hurricane Dorian aboard a Black Hawk helicopter on 6 September.
In this month’s issue Post published the annual top 100 Insurers, a list of the UK's biggest insurers ranked by non-life gross premium written in 2018, in association with AM Best.
Catastrophe modelling firm RMS has estimated that the insured losses from Typhoon Faxai in Japan will be in the range of $5bn to $9bn (£4.1bn to £7.3bn).
When physician John Snow was trying to identify the source and path of cholera outbreaks in London, he plotted outbreaks on a map of the city. Richie Toomey, senior manager for commercial insurance at Lexis Nexis Risk Solutions argues as reliable as…
Julian Enoizi, CEO of UK government-backed terrorism reinsurer Pool RE, has predicted that the insurance-linked securities market will diversify away from US property-catastrophe risks, into other “difficult to insure perils” such as terrorism.
The government has pledged £62m flood defence investment for communities across Yorkshire, Cumbria, the North East and the South East of England.
The industry can expect to be hit with on average $92bn (£74.5bn) in insured losses from catastrophes annually going forward, according to catastrophe modeling firm Air Worldwide.