Despite the 2010 Atlantic hurricane season being one of the most active on record no hurricanes made US landfall as the reinsurance industry avoided any tangible losses, rating agency Moody’s has reported.
Prospects for the US P&C market are unlikely to improve in 2011 as competitive fundamentals continue to promote inadequate pricing, according to Fitch Ratings in a new report.
The CEA has been criticised for its ‘negative’ approach to mandatory financial security for ELD liabilities and challenged to come up with constructive alternatives by leading environmental liability lawyer Professor Valerie Fogleman, Consultant, Stevens & Bolton LLP and Professor of Law, Cardiff University, at CRE’s Malta International Risk & Insurance Congress.
As the United Nations Framework Convention on Climate Change (UNFCCC) gets underway in Cancun ClimateWise, the collaboration of leading insurers, has sent a letter to negotiators highlighting what it sees as the priorities for a low climate risk world.
FERMA and the European Federation of Insurance Intermediaries (BIPAR) have announced the agreement of a groundbreaking transparency protocol that they hope will prevent conflicts of interest in the relationship between brokers and corporate insurance buyers.
Germany’s insurers are in uproar over Solvency II. After years of more or less ignoring the EU’s efforts to unify capital and supervisory rules, managers suddenly realise that they will be affected – and much more drastically than so far anticipated.
The German primary insurance market is growing again, driven by life, but also helped by the first signs of a harder market in motor and other property and casualty lines.
Experts gathered at the Institute of Risk Management’s Risk Leaders’ Conference warned that the UK’s new Bribery Act will cause major problems for UK organisations who will now not be competing on a level playing field with foreign competitors.
The credit insurance and surety bond markets are showing positive developments following the financial crisis but challenges still persist, according to Guy Carpenter & Co.
The first meeting of the High Level Forum for a Better Functioning Food Supply Chain took place on Tuesday. It kicked off the forum’s efforts to adopt a work plan to boost competitiveness and to promote best contractual practices in the European food sector.