Insurers need to ‘rethink’ sharing economy transfer options, says Lloyd’s

Insurers need to ‘rethink’ sharing economy transfer options, says Lloyd’s

Insurers need to ‘rethink’ sharing economy transfer options, says Lloyd’s

Insurers may need to go back to the drawing board to cover new risks arising from the sharing economy that typically sees peers offering services via online sites, say Lloyd’s and Deloitte in analysis of the booming sector. To address these new risks insurers must rethink traditional cover, the study by the two organisations finds. Lloyd’s head of innovation, Trevor…

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

The EU should close gaps between member states’ drone regulations that currently restrict insurers’ ability to deliver risk-transfer solutions, said the industry’s federation Insurance Europe. In response to the EC’s consultation on technical standards for drones, Insurance Europe calls for a common framework to license, certificate, authorise and classify drone use at EU level. The European federation said insurers’ interest…

Munich Re partners with digital duo to ‘revolutionise’ smart factory offering

Munich Re partners with digital duo to ‘revolutionise’ smart factory offering

Munich Re partners with digital duo to ‘revolutionise’ smart factory offering

Munich Re has teamed up with digital partners to set up, risk manage and insure smart factories to allow manufacturers to take advantage of Industry 4.0 developments. Germany-based KUKA, which supplies intelligent automation solutions, will develop the robot-based automated plants and Porsche-owned consultancy MHP will provide digital expertise and systems. Munich Re will complete the new business model with integrated…

Ocean Risk Summit calls for better risk data but heralds new transfer solutions

Ocean Risk Summit calls for better risk data but heralds new transfer solutions

Ocean Risk Summit calls for better risk data but heralds new transfer solutions

The risk and insurance industry urgently needs better data and models to deal with ocean risk, Chip Cunliffe, director of sustainable development at XL Catlin, told CRE following his company’s inaugural Ocean Risk Summit. The event discussed and showcased new solutions to tackle a range of ocean risks from blue carbon resilience credits to the Ocean Risk Index and first…

The insurer’s perspective

The insurer’s perspective

The insurer’s perspective

Richard Taylor is managing director of European Risk Frontiers sponsor HDI Global’s UK branch. He tackled the big questions posed by Adrian Ladbury as part of this year’s survey. Adrian Ladbury (AL): What is your view of the current state of the commercial and corporate insurance market and what is the outlook overall? Richard Taylor (RT): By its nature the…

AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

Nephila Climate, the weather and ESG-driven specialty division of Bermuda-based Nephila Holdings, together with Allianz Global Corporate & Specialty’s (AGCS’s) alternative risk transfer unit, have closed a first set of solar proxy revenue swaps for two projects in Australia, the Susan River Solar and Childers Solar facilities. The two new five-year transactions announced this week by Nephila and AGCS will…

Cybercriminals target mobile apps

Cybercriminals target mobile apps

Cybercriminals target mobile apps

Cybercriminals are increasingly using mobile apps, disposable devices and fake social media accounts to carry out fraud and avoid detection, according to a new report by RSA Security. The report tracks a 63% rise in the use of mobile apps to conduct fraudulent transactions globally between Q1 2017 and Q1 2018, and a rise of 680% since 2015. The study,…

XL Catlin hungry for autonomous tech risks

XL Catlin hungry for autonomous tech risks

XL Catlin hungry for autonomous tech risks

XL Catlin has “significant risk appetite” for new risks emerging from autonomous technology and has put together a team of experts to provide solutions. The new team can help provide protection at design and development stages, through to testing and implementation. The cover is available globally to all sectors of industry. Xl Catlin has also established a Global Autonomy Centre…

HDI Global Specialty formed to focus on high growth and margin business

HDI Global Specialty formed to focus on high growth and margin business

HDI Global Specialty formed to focus on high growth and margin business

Talanx has decided to merge the primary specialty operations of its Hannover Re and HDI Global operations to create HDI Global Specialty, an international specialty insurer that will kick off with more than €1bn in premium income. HDI Global, along with the other leading industrial insurers, is struggling to deliver strong and profitable growth in core traditional European lines and…

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