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Tag: Insurance


News

Brits get beer insurance as Euro soccer tournament heats up

June 21, 2024

Via: Insurance Business

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 […]


InsurTech

AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey

June 20, 2024

Via: Insurance Journal

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. […]


Cyber Risks, Risk Management

European cyber insurance market now more friendly, says Marsh

June 20, 2024

Via: Reinsurance News

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. […]


InsurTech

Appian collaborates with PwC UK to bring innovative insurance solutions

June 19, 2024

Via: Reinsurance News

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 […]


InsurTech

Fitch upgrades German non-life insurance sector outlook to ‘improving’

June 18, 2024

Via: Reinsurance News

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 […]


News

Insurers continue to face capital challenges: Aon

June 18, 2024

Via: Reinsurance News

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 […]


InsurTech

CFC launches Carbon Cancellation Insurance

June 13, 2024

Via: Reinsurance News

CFC, a specialist insurance provider in emerging risks and cyber insurance, has launched its second insurance product for buyers of voluntary carbon credits. The new Carbon Cancellation Insurance safeguards against financial and management risks if purchased carbon credits are cancelled […]


InsurTech

Jensten acquires Chris Knott Insurance Consultants

June 13, 2024

Via: Reinsurance News

UK broker and underwriter Jensten has bolstered its London and South East presence through its acquisition of Chris Knott Insurance Consultants, a broker that specialises in both personal and commercial lines. Subject to regulatory approval, the deal will reportedly introduce […]


InsurTech

Commercial property insurance market proving to be more stable & capitalized, says USI

June 12, 2024

Via: Reinsurance News

Following on from last year’s challenging property insurance market, 2024 is proving to be a “more stable and capitalized market,” according to USI Insurance Services. In their latest Commercial Property & Casualty Market Outlook Mid-Year Addendum, USI notes that the […]


Brokers

Canadian Broker Axis Insurance Gets Investment From PE Firm, Lee Equity Partners

June 11, 2024

Via: Insurance Journal

Axis Insurance Managers Inc., the Vancouver-based independent specialty insurance brokerage, announced it has received a significant growth investment from Lee Equity Partners LLC, a middle market private equity firm that specializes in the financial services and healthcare industries. The partnership […]


InsurTech

NSM Insurance acquires Strategic Underwriters International

June 11, 2024

Via: Reinsurance News

NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace. MergerSUI offers facultative casualty reinsurance for several lines of business, including […]


Cyber Risks, Risk Management

CFC launches upgraded cyber risk heat map focused on key exposures

June 6, 2024

Via: Reinsurance News

CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs own claims data and external […]


News

CEA renews $3.73bn of reinsurance so far in 2024

June 5, 2024

Via: Reinsurance News

The California Earthquake Authority (CEA) has renewed $3.73 billion of reinsurance in 2024 so far, having secured almost $1.2 billion in new protection at the April 1st renewals. At the end of 2023, the earthquake insurer had $9.1 billion of […]


News

Broadstone unveils Insurance, Regulatory & Risk Advisory division

June 3, 2024

Via: Reinsurance News

Broadstone, the independent pensions, employee benefits, investment and insurance consultancy, has launched its standalone Insurance, Regulatory & Risk Advisory division. According to the announcement, this proposition will service the life and non-life insurance sector including Lloyds and the London market, […]


InsurTech

Automated EHR Summarizer, an effective & efficient tool for life insurance underwriting: Munich Re

May 31, 2024

Via: Reinsurance News

In a recent interview with Reinsurance News, June Quah, Vice President, Integrated Analytics, Munich Re, Canada, discussed the reinsurance giant’s newest digital solution, Automated EHR Summarizer which is set to ensure efficient and accurate use of Electronic Health Record (EHR) […]


Regulatory / Legal

The Impact of the Corporate Transparency Act on Companies in a Captive Insurance Structure

May 30, 2024

Via: JD Supra

Captive insurance companies are likely exempt from filing a Beneficial Ownership Information (BOI) Report under the insurance company exemption to the Corporate Transparency Act (CTA). Likewise, companies that are owned by captive insurance companies are likely exempt from filing a […]


Risk Management, Trends

Weather Hazards & Insurance Claims Considerations Across the US

May 30, 2024

Via: JD Supra

Every day, somewhere in the United States, some sort of hazardous weather is occurring. The vastness of the nation—from the Arctic Ocean coastline to the tropical beaches of the Florida Keys, to the mountain peaks of the Western United States, […]


News

Relation Insurance Services announces First Insurance acquisition

May 29, 2024

Via: Insurance Business

Relation Insurance Services has acquired the assets of First Insurance, an affiliate of FirstBank, Inc. First Insurance, based in Durant, Oklahoma, provides a full range of insurance products including commercial, personal, farm and ranch, and manufacturing. Dina Wagner will continue […]


Regulatory / Legal

Insurers Must Physically Inspect to Confirm Damage Cited by Aerial Imagery

May 29, 2024

Via: Insurance Journal

The Pennsylvania Insurance Department (PID) is reminding insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by aerial imagery. The regulatory agency said it has received consumer […]


InsurTech

Aon study highlights key market differentiator in insurance sector

May 24, 2024

Via: Insurance Business

The latest Global Transaction Solutions Claims Study by Aon and Mergermarket emphasizes the importance of insurers’ claims handling in the transaction solutions insurance market. Despite a slowdown in M&A activity and representations and warranties (R&W) policy placement in 2023, Aon […]