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CRE Insurance
London bids to improve claims handling in subscription market
Key underwriting groups in the London market have approved a Single Claims Agreement model proposed by brokers, which will allow lead carriers to authorise non-complex claims up to a specified…
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CRE Insurance
Insurers strive to improve claims process
As competition becomes increasingly fierce in the insurance market, underwriters are trying to improve claims handling and service. Initiatives range from the use of technology, such as drones and improved…
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CRE Insurance
HDI Global maintaining a smooth line
Recent results from the international insurance and reinsurance market, not least AIG, have shown once again how difficult it can be to maintain a steady and consistent growth path in…
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CRE Insurance
Generali in for the long run
The international corporate insurance market is becoming increasingly difficult as carriers struggle to balance stubbornly competitive underwriting conditions and low investment returns. There are few signs of this changing, ...…
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Energy insurance stuck in soft market, but conditions can change quickly warns Willis
Global energy insurance markets are still stuck in a softening market, albeit a decelerating one, according to Willis Towers Watson’s Energy Market Review for 2017. But whilst this may be…
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Africa
Kenya court ends motor insurance price fixing deal
It’s back to the drawing board for Kenya motor vehicle insurers as the regulator-sanctioned price-fixing deal implemented in 2010 has been dismissed by the High Court in Nairobi, giving a…
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Asia
Zurich buys Sydney-based travel insurance provider Cover-More
Zurich Insurance Group has acquired 100% of the issued share capital of Cover-More Group Limited, a leading travel insurance and assistance solutions provider based in Sydney with a strong market…
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Analysis & Opinion
Cyber preparedness and response
Cyber is a word you no doubt read every day, such is the concern around the ever-growing and evolving problem of cyber security. The UK government’s annual Information Security Breaches…
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Africa
Agriculture to drive African economies
Africa must focus on agriculture to drive growth and create jobs on the continent, according to Akinwumi Adesina, president of the African Development Bank (AfDB). Speaking at the Mo Ibrahim…
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Captives
Vermont appoints new director of financial services to replace Dan Towle
The Vermont Agency of Commerce & Community Development has appointed Ian Davis as the next director of financial services. The position is responsible for the marketing, promotion and business development…
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Africa
Johannesburg still leading African destination for Fortune 500 companies
The Middle East and Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, with a 17% increase in the number of Fortune 500 companies…
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Africa
Supply chains targeted in largest global cyber breach
The largest ever global cyber espionage campaign, that specifically targeted supply chains to access thousands of organisations across the world, has been uncovered. Details of the attack, which started to…
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CRE Insurance
Storm Zeus estimated €192m insured loss
Insured property losses from storm Zeus, which affected parts of France last month, are estimated at €192m, according to Zurich-based nat cat data provider Perils. Storm Zeus caused high winds…
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GRM Insurance
Alliant consolidates specialty operations into one division
California-based broker Alliant Insurance Services has combined its portfolio of industry specific specialty insurance practices into a single unit, Alliant Specialty Group. Alliant is one of the biggest brokers in…
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Asia
Brit boosts specialty division with Singapore hire
Brit Ltd has appointed David Lim as CEO, Brit Global Specialty Singapore with effect from 15 May 2017. Following the appointment, Mr Lim, together with Charles Barrett, chief underwriting officer,…
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Analysis & Opinion
United Airlines reels from reputation hit
If the future of United Airlines’ chief executive, Oscar Munoz, is not yet decided, his company’s name seems destined to enter the enterprise risk specialist’s hall of infamy. The airline’s…
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Africa
S&P affirms Cameroon rating while warning of political risks
Standard & Poor’s Global Ratings (S&P) has affirmed its B long-term and B short-term sovereign credit ratings on Cameroon, with a stable outlook, however, it has warned that risks around…
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CRE People Moves
Miller hire boosts its US MGA business
Richard Boughton has joined Miller in a business production and broking role, with a view to further growing the London-based broker’s North American MGA business. Mr Boughton began his career…
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CRE Legal Regulation
Significant barriers to implementation of IAIS standards, says Fitch
Fitch Ratings has warned that significant barriers to implementation of the new International Association of Insurance Supervisors (IAIS) standards remain, noting that the development of international regulation for insurance... Want…
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CRE Insurance
No need for rushed changes to Solvency II’s ultimate forward rate, say insurers
The European Insurance and Occupational Pensions Authority’s (EIOPA) plans to make changes to the Solvency II ultimate forward rate (UFR) from 1 January 2018 have come under attack from the…