July 8, 2024

Hurricane Beryl made its U.S. landfall at Matagorda, Texas early Monday as a Category 1 hurricane. The storm has reportedly knocked out power to 1 million homes and businesses, but the storm’s overall impact to the insurance industry is expected to […]

July 5, 2024

The Government of the Republic of Zimbabwe has received an insurance payout of US$16. 8 million following its participation in the African Risk Capacity (ARC) Group disaster financing mechanism. For those who are not aware, the mechanism is designed to […]

July 3, 2024

Munich Re’s Risk Management Partners is teaming with CGI, the business and IT consulting services firm, in a move that is set to help insurers reduce claims, increase profits, and drive long-term value through climate risk mitigation. This partnership between […]

July 2, 2024

Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million acquisition enhances Blue Owl’s ability […]

July 2, 2024

On June 24, Gov. Kathy Hochul announced guidance issued by NYDFS in Circular Letter No. 6 (2024) informing insurers and related parties that, under the new Insurance Law § 3462, making coverage decisions based on a property’s status as an affordable housing development or […]

July 1, 2024

Zurich Insurance Group and Aon have introduced a new clean energy insurance facility to provide comprehensive coverage for blue and green hydrogen projects with capital expenditures up to $250 million. As part of this new initiative, Zurich serves as the lead insurer while […]

June 28, 2024

Noor Energy 1, an iconic solar power plant in the United Arab Emirates has likely suffered hundreds of millions of dollars of losses following an April storm. Noor 1 is a concentrated solar power (CSP) operation with a 260 meter […]

June 26, 2024

The emergence of genomics, the study of genes and its arrangements and interactions, has a role insurers should be taking note of, a recently released report by Swiss Re found. The report entitled “Genomics: Litigation Risks and Rewards,” suggests genomic […]

June 26, 2024

Insurers can no longer avoid the need to explicitly quantify geopolitical risk in their pricing, modelling and risk management processes, says Broadstone, the independent pensions, employee benefits, investment and insurance consultancy. Broadstone’s latest Insurance Risk Monitor states that the current […]

June 25, 2024

This year is predicted to be an active hurricane season in Florida and the southeastern United States. If you own property in Florida and other hurricane-prone areas, having the right hurricane insurance in place to protect your assets is critical. […]

June 25, 2024

In response to increasing cyber threats, DUAL North America has formed a strategic partnership with CyberClan, a leading cybersecurity risk management firm. The partnership will expand the range of risk management solutions offered by DUAL. With the integration of DUAL Cyber into […]

June 24, 2024

Caribbean general insurer, British Caribbean Insurance Company (BCIC) has launched its omnichannel insurance ecosystem built on the San Francisco-domiciled, EIS cloud-native SaaS platform and implemented by EY. The EIS SaaS platform aims to accelerate speed to market and drive efficiency. […]

June 21, 2024

Heineken has a new ad campaign, in collaboration with Publicis London, in which it claims it has introduced an ‘innovative’ insurance policy designed to cover football fans who accidentally spill their beer during the more stressful moments of the Euros […]

June 20, 2024

A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. […]

June 20, 2024

The European cyber insurance market has become much more friendly, with increased capacity per layer, significant overall capacity growth, removal of coverage restrictions, and more enhancements and innovative coverages available, according to Macarena Bandres, Cyber Placement Leader at Marsh Europe. […]

June 19, 2024

Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. PwC serves over 4,000 insurance clients worldwide […]

June 18, 2024

Fitch Ratings, a financial analysis firm operating out of Frankfurt and London, recently announced a notable change in its evaluation of the German non-life insurance sector. The outlook has been elevated from ‘neutral’ to ‘improving,’ driven by expectations of heightened […]

June 18, 2024

Aon, a global insurance and reinsurance broking group, has released its latest capital poll, highlighting the capital challenges and growth prospects for insurers. The challenges faced in 2023 significantly reduced the financial buffers that many insurers previously benefitted, leading to […]

June 17, 2024

(Re)insurance broking group Gallagher’s new report highlights the necessity for businesses and communities to adopt proactive risk management strategies, in light of global uncertainties in 2024. The year is marked by the potential for civil unrest, terrorism, and political violence […]

June 14, 2024

The Clear Group, the London-based independent broker, announced it has acquired the book and assets of credit insurance broker Rycroft Associates LLP and its sister company and appointed representative, Inspire Credit Management Ltd., a delegated authority specialist. The company was […]