Continental Re enters agriculture insurance market

Continental Re enters agriculture insurance market

Continental Re enters agriculture insurance market

Continental Reinsurance has launched an agriculture insurance programme as part of its new capabilities. “We have read the signals of our environment and have responded without a doubt,” said group MD/CEO, Dr Femi Oyetunji. “In line with our organising principle of localisation, we have found it imperative to expand our product relevance to further build on market development.” Continental Re…

HDI Global partners with industrial IoT innovator to deliver for clients

HDI Global partners with industrial IoT innovator to deliver for clients

HDI Global partners with industrial IoT innovator to deliver for clients

HDI Global has partnered with Schneider Electric to develop industrial internet of things (IIoT) insurance products and services, which the insurer said will reduce risk in real time for buyers and deliver more tailor-made insurance. Announcing the collaboration, the companies promised “digital transformation of industrial insurance through data”. HDI Global said it will use Schneider Electric’s Exchange and EcoStruxure internet…

London company commercial premiums rise 8% in 2018

London company commercial premiums rise 8% in 2018

London company commercial premiums rise 8% in 2018

The London company insurance market recorded commercial premiums up 8% to £28.4bn in 2018, according to figures from the International Underwriting Association (IUA) following analysis of more than 60 companies. The number compares with £35.5bn from the Lloyd’s market and shows that overall London market premium totalled £64bn last year. The majority of London company premium at £19.6bn was written…

Zurich’s innovation competition opens for second year

Zurich’s innovation competition opens for second year

Zurich’s innovation competition opens for second year

Zurich has opened its annual Innovation Championship, as the competition to find “groundbreaking” insurance ideas among startups enters its second year. The global contest seeks established startups with technologies and innovative business models to meet next-generation climate, health and automation risks. This year, a wildcard category is open to new solutions outside these areas with the potential to help Zurich…

Lloyd’s launches parametric hotel profit cover from new innovation unit

Lloyd’s launches parametric hotel profit cover from new innovation unit

Lloyd’s launches parametric hotel profit cover from new innovation unit

Lloyd’s is to offer hotels a profit protection policy that uses parametric triggers to indemnify buyers hit by unexpected events within their industry and outside their control. It is the first new product from Lloyd’s’ product innovation facility since its launch in June. Led by Tokio Marine Kiln, the product is also supported by Chaucer, Munich Re Syndicate, Beazley, Faraday…

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Risk managers and brokers will have to work doubly hard during the coming months, as a concerted effort by the insurance market to tackle silent cyber will lead to heated discussions at the year-end renewals, potentially leaving some customers with serious coverage gaps. Despite buyer representatives welcoming the clarity that work to tackle silent cover will bring, a leading broker…

Demand for D&O cover on the rise in Asia-Pacific as regulation hots up

Demand for D&O cover on the rise in Asia-Pacific as regulation hots up

Demand for D&O cover on the rise in Asia-Pacific as regulation hots up

Regulatory investigations across the Asia-Pacific region will become more frequent and aggressive over time, and risk managers in the region that currently do not advise their c-suite to buy any, or adequate, directors and officers (D&O) cover could find themselves in hot water as a result. Both Hong Kong and Singapore have significantly beefed up their corporate governance, stock market…

Reinsurers must up cyber modelling game

Reinsurers must up cyber modelling game

Reinsurers must up cyber modelling game

The reinsurance market faces a massive opportunity to grow the cyber market by teaming up with governments and the insurance-linked securities (ILS) market, in a similar manner to the property catastrophe reinsurance market in recent times. But to realise this potential, reinsurers must improve quantitative modelling and data quality to dodge the “iceberg threat” of silent cyber, according to a…

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

The Pan-Asia Risk & Insurance Management Association (Parima) is this week supporting an event focused on employee benefits for risk managers in Beijing, organised by MAXIS Global Benefits Network (Maxis GBN) and its local partner ICBC AXA. Risk and insurance managers in Europe and North America are becoming increasingly involved in the management and transfer of employee benefits, as multinationals…

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

The insurance-linked securities (ILS) market is willing and able to pick up significant gaps in cyber and terrorism cover as traditional insurers seek to limit their exposure and, for Asian companies at least, Singapore is the place to go to investigate this potential, according to Gillian Tan, executive director of the Monetary Authority of Singapore (MAS). Singapore enacted rules two…

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