November 22, 2023
Via: Insurance BusinessA new report from Swiss Re cements the global insurance industry’s position as the world at large faces elevated risks, both macroeconomic and geopolitical. As the global economy heads into 2024, a slowdown is anticipated, with real GDP growth projected […]
November 21, 2023
Via: Reinsurance NewsThe world’s most vulnerable countries could lose over 100% of GDP in 2024 from climate related disasters that are insurable, according to research from the Cambridge Institute for Sustainability Leadership (CISL) and broking group Howden, which also demonstrated the transformative […]
Geo-Political, Risk Management
November 17, 2023
Via: Artemis BMProperty catastrophe reinsurance capacity is expected to remain relatively flat at the January 2024 renewals according to a survey from broker Gallagher Re, which also suggests that reinsurer appetite for writing aggregate coverage and lower-layers remains limited. It’s yet another […]
November 1, 2023
Via: Insurance JournalVerisk Analytics beat market expectations for third-quarter revenue and profit on Wednesday, as more insurance companies used its products to assess risk. The data analytics company’s products cater to insurers across sectors ranging from real estate to manufacturing. Insurance company […]
October 26, 2023
Via: Reinsurance NewsAt-Bay, the cyber insurance provider, has launched a new Managed Detection and Response (MDR) solution, At-Bay Stance MDR, designed to help emerging and mid-sized businesses advance their security defenses and threat preparedness, in view of the rapid rise of cyber […]
October 12, 2023
Via: Insurance BusinessThe use of artificial intelligence (AI) to facilitate fraud insurance claims has grown over the past decade, especially as AI has become more sophisticated. But the entry of generative AI could drive insurance fraud to levels yet unseen, a digital […]
October 10, 2023
Via: Reinsurance NewsGlobal re/insurance broker Aon has transformed its reinsurance claims processing with the use of The Appian Platform, an AI-powered process platform that helps design, automate, and optimise complex processes. Aon’s Reinsurance Solutions started an operational transformation program in 2018, making […]
September 27, 2023
Via: Reinsurance NewsIn a strategic move aimed at bolstering cybersecurity practices for American businesses, Chubb, the world’s largest publicly traded property & casualty insurance company, has embarked on a collaboration with SentinelOne, a renowned leader in the field of cybersecurity. This partnership […]
September 26, 2023
Via: Reinsurance NewsWith cyber crime fears being heavily highlighted in PwC’s “Insurance Banana Skins 2023” report, Reinsurance News spoke to Jim Bichard, Partner and Global Insurance Leader at PwC, at RVS 2023 about what the industry needs to do to try and […]
September 12, 2023
Via: Reinsurance NewsDuring Swiss Re’s press briefing at RVS Monte Carlo 2023, Gianfranco Lot, Swiss Re’s Chief Underwriting Officer, Property & Casualty Reinsurance, explained that cyber insurance is yet to evolve to the same levels as property cat. Within their property cat […]
September 6, 2023
Via: Insurance BusinessAmong the highlights of S&P Global Ratings’ briefing into where the global reinsurance sector stands in 2023, it was highlighted that the sector is stabilising as ‘green shoots emerge in underwriting’. Amid ‘much-needed’ structural changes in reinsurance underwriting, S&P has […]
August 30, 2023
Via: Reinsurance NewsAs cyber insurance remains the fastest growing sub-sector of the global insurance market, S&P has underlined the importance of reinsurance in the development of a sustainable and effective market. According to S&P, primary carriers ceded around 50% to 65% of […]
August 18, 2023
Via: Insurance JournalTim Temple, a Baton Rouge Republican who spent 20 years in the insurance industry, will be Louisiana’s next insurance commissioner after the only other candidate dropped out of the race Wednesday. The statewide position was been thrust into the spotlight […]
August 17, 2023
Via: Insurance JournalWorld Insurance Associates LLC announced that R&S Insurance Agency, Inc. (“R&S”) of Stoughton, Wisconsin has joined World as of August 1, 2023. Terms of the transaction were not disclosed. R&S has been providing insurance products and services to individuals, families […]
August 17, 2023
Via: Insurance JournalAn alleged “family and friend” organized auto insurance fraud ring in California was seemingly broken up by the Urban Automobile Insurance Fraud Task Force when seven people were arrested on Wednesday in connection to the case. In total, 23 individuals […]
August 16, 2023
Via: Repairer Driven NewsAuto insurance shopping increased 12% during Q2 compared to the same period last year, according to a new TransUnion report. TransUnion’s quarterly Insurance Personal Lines Trends and Perspectives report, released Tuesday, attributed the rise to vehicle sales and the quest […]
August 15, 2023
Via: JD SupraCulminating a four-year-long process, a key working group of insurance regulators has adopted new standards for determining whether an investment held by an insurance company should be characterized as a “bond” evidencing a “creditor relationship.” This “principle-based” bond definition will […]
August 14, 2023
Via: Insurance JournalxC Williams Insurance Agency recently joined Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois. Founded in 2023, C Williams Insurance Agency was created by owner Chad Williams. The full-service […]
August 11, 2023
Via: Reinsurance NewsEmerging Asia is becoming less shock prone, this along with enhanced economic credibility lowering long-term volatility of growth, inflation and interest rates, is making the region more attractive for insurers and investors alike, according to a recent report by the […]
August 10, 2023
Via: Insurance BusinessThe insurance industry is hyper fixated on an issue that is extremely relevant to the property sector, namely valuation. That is according to Ben Beazley (pictured), executive vice president, national accounts property at Jencap Group. “Valuation is the hottest topic […]