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Market
December 7, 2023
RSA exits UK personal lines to focus on specialty
RSA and its parent group, Intact Financial, has announced the sale of UK direct personal lines operations to fellow insurer Admiral Group, and will now focus resources on commercial and…
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Risk Management
December 7, 2023
Employee burnout tops risk manager concerns for 2024
The majority of global risk managers (80%) name burnout as the leading risk set to impact their employees in 2024, according to research from health and security consultancy International SOS.…
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North America
December 7, 2023
Single-digit increases in US commercial market next year, predicts broker
The P&C segments of the US commercial lines market in 2024 will look much like 2023, with single-digit percentage increases, according to Woodruff Sawyer. In its P&C Looking Ahead Guide…
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Market
December 7, 2023
Premiums must adjust after record severe storm losses: Swiss Re
Insured losses from global natural catastrophes will exceed $100bn in 2023 for the fourth consecutive year, driven by record costs from severe convective storms at $60bn, according to the Swiss…
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Market
December 7, 2023
US rate increases up a touch in several lines
Insurance premium renewal rates accelerated in several major US commercial lines last month, but the pace of increases eased in property, according to Ivans Insurance Services. In its monthly index,…
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Insurance
December 7, 2023
AI unlikely to replace human element in commercial insurance
Artificial intelligence (AI) will provide insurance professionals with powerful new tools to improve efficiencies but is unlikely to replace the human element in the commercial market, according to a panel…
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Global Risk Manager
December 7, 2023
SiriusPoint to step further into US professional liability with new partnership
Specialty insurer and reinsurer SiriusPoint has formed a new strategic partnership with programme administrator ProVerity Underwriters to provide capacity for solutions for the US professional liability market. ProVerity p... Want…
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Liability
December 6, 2023
European legal and litigation landscape set for ‘greatest systemic shift’, warns Zurich
Zurich has warned that the European legal landscape is set to see the “greatest systemic shift” over the next few years as a raft of new regulations collide with litigation…
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Cyber & Technology
December 6, 2023
Free cyber risk platform rolled out to help buyers and spur ILS market
Cyber risk quantification specialist DeNexus has made its cyber risk assessment platform available for free to industrial companies, in a move that it says will “breach the silo between the…
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ESG Other News
December 6, 2023
Airline adverts banned in the UK over greenwashing
Three airlines, Air France, Lufthansa and Etihad Airways, have had adverts banned by the UK’s Advertising Standards Authority (ASA) over misleading environmental claims. The ASA said that in all three…
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North America
December 6, 2023
Disciplined US commercial lines to remain profitable and resilient: Best
Admitted US commercial lines insurers remain disciplined about risk selection, terms and conditions, and capacity deployment, according to AM Best, which is maintaining its stable market segment outlook on the…
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ESG Litigation
December 6, 2023
Major airlines face formal complaints over ‘misleading’ environmental claims
Climate charity Possible has filed formal complaints against both British Airways and Virgin Atlantic over their claims that they are reducing emissions from flights and the consequent harm to the…
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Liability
December 6, 2023
AI-written articles and content spark liability concerns
Media organisations that publish artificial intelligence-generated content in the US should be transparent about how and when they are using AI, and ensure that human checks and balances are in…
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Market
December 6, 2023
HDI enters US surety and Asian accident and health markets
HDI Global has entered the US surety market through the acquisition of Indiana Lumbermens Insurance, and the Asian accident health market with the appointment of Lisa Leow as underwriter in…
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Aviation
December 6, 2023
Charles Taylor acquires UK aviation loss adjuster Leading Edge Assist
Charles Taylor has acquired UK aviation loss adjuster Leading Edge Assist, led by Hugh Thacker. LEA serves all aspects of aviation claims across aircraft types and sectors, from aviation insurers…
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Asia
December 6, 2023
Report reveals impact of inflation on ASEAN insurers
Inflation caused challenges for ASEAN insurers on the underwriting and investment side, and also contributed to a tightening of reinsurance capacity, but most were prepared for inflation, according to this…
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CRE Legal Regulation
December 5, 2023
Europe’s risk managers face further focus on supply chains
The European Union’s Competitiveness Council is to meet on 7 December to hold a policy debate on the proposal for a regulation that prohibits products made with forced labour from…
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CRE Risk Management
December 5, 2023
UK creates resilience academy as risks accelerate
The UK is to create a new resilience academy to combat the increasingly complex risks faced by the country, including the malicious use of AI, cyberattacks and extreme weather. Updating…
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CRE Insurance
December 5, 2023
Howden accelerates Swiss growth with Haakon buy
Howden has acquired Swiss reinsurance broker Haakon, furthering its expansion in Switzerland after acquiring three brokers in the country in the summer. Howden said the deal will create the largest…
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Legal & Regulation
December 5, 2023
Insurer sues Aon over alleged Vesttoo fraud
Clear Blue Insurance and its affiliates have sued Aon, alleging the brokerage exposed the insurer to hundreds of millions in losses through intellectual property insurance and reinsurance programmes it established…