Month: January 2021

January 19, 2021

In each quarter of 2020, although most notably in Q1 and Q4, catastrophe bond and ILS issuance remained above average. Combined with the previous three quarters, the record-breaking level of both transactions and issuance in Q4 drove annual issuance to […]

January 19, 2021

It’s an understatement to say that 2020 has brought new risks to the forefront for insureds, while introducing new challenges for the re/insurance industry. However, over the past tumultuous 12 months, the reinsurance market has been able to find opportunities […]

January 19, 2021

Funding for technology companies focused on the insurance industry will likely be robust this year and into 2022 as so-called insurtech companies mature, according to a recent report and other industry sources. Although insurtech investments slowed after the outbreak of […]

January 19, 2021

Investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital Management have announced the signing of a definitive merger agreement, under which affiliates of TowerBrook and Further Global will acquire all outstanding shares of common stock of […]

January 19, 2021

The Fair Work Commission has dismissed an application for relief from unfair dismissal by a former Commonwealth Insurance motor assessor, who was terminated for “serious misconduct” last year over an undeclared transfer of $500 to his bank account. Commissioner Michelle […]

January 19, 2021

Louisiana Citizens Property Insurance Corp. (“LCPIC”), has released a new request for proposals for vendors to service insurance claims after a catastrophe, such as in response to a hurricane. Proposals from applicants can be submitted on any of five distinct […]

January 19, 2021

Spain began the new year battling Storm Filomena, a once-in-a-generation weather event that blanketed Madrid in snow and paralyzed the economy. Health workers were stranded, supermarkets shut, and the army was called in. At least four people died. “Now, consider […]

January 19, 2021

BGC Insurance (BGCI) has rebranded as Corant Global Ltd., which will become the holding company for all the insurance interests of BGC Partners Inc., a global brokerage and financial technology company, subject to regulatory consent. Corant will comprise the broking […]

January 19, 2021

The world’s biggest shipping company demanded a more effective military response to surging pirate attacks and record kidnappings off the coast of West Africa. The number of attacks on vessels globally jumped 20% last year to 195, with 135 crew […]

January 19, 2021

Clovis, Calif.-based Sierra Specialty Insurance Services has added Chris Sunderland as a senior property/casualty underwriter. Sunderland previously co-founded International Property & Casualty Insurance Brokers of Nevada Inc., which was recently acquired by Platinum Specialty Underwriting, a division of XPT Group, […]

January 18, 2021

The Supreme Court dismissed insurers’ appeals in the Financial Conduct Authority’s business interruption test case on Friday, bringing to a close a six-month legal battle. The court also “substantially” allowed the appeal of the FCA, which had been representing the […]

January 18, 2021

The emerging advanced technologies such as machine learning, deep learning and others are expected to affect entire landscape of insurance sector, thus, creating lucrative growth opportunities for InsurTech companies. Insurance carriers are striving to create a digital environment through innovation […]

January 18, 2021

Insurtech is all poised to boom given the disruption brought in by startups coupled with aggressive adoption of technologies by traditional insurers. The challenge to capture the customer’s needs in real-time and to deliver the same is something that the […]

January 18, 2021

The COVID-19 pandemic has led to unprecedented times in our history as a society. Those trends that were underway and would have matured in the near-term 5–10 years have now established themselves fully and may likely become a permanent fixture […]

January 18, 2021

Insurance companies play an important role in society by protecting people and their property. Insurance is basically a way of protection against financial loss resulting from a variety of unfortunate events. It’s basically a form of risk management, primarily employed […]

January 18, 2021

Charles Taylor has launched its Specialist Investigation Services (SIS) division, which will provide an intelligence-led approach to countering fraud. SIS is a multi-sector investigation division, which draws on Charles Taylor’s experience handling complex cases globally alongside technology to develop counter-fraud […]