German insurtech gathers momentum as Cologne announces April trade fair

German insurtech gathers momentum as Cologne announces April trade fair

German insurtech gathers momentum as Cologne announces April trade fair

Germany’s insurtech hub InsurLab has confirmed that it will hold its first trade fair in Cologne on April 21-22, 2020, in partnership with Koelnmesse, as momentum and funding behind insurtech in the country gathers momentum. InsurLab, launched in 2017 after the federal government revealed that Cologne would be the nation’s insurtech centre, said the insureNXT|CGN event will “contribute to shaping…

Solvency II review could see companies excluded from aspects of regime under proportionality: EIOPA

Solvency II review could see companies excluded from aspects of regime under proportionality: EIOPA

Solvency II review could see companies excluded from aspects of regime under proportionality: EIOPA

EIOPA’s upcoming Solvency II review could, for the first time, see some companies excluded entirely from certain aspects of the regime under its proportionality principle, Ana Teresa Moutinho, the regulator’s head of supervisory processes department, told a Ferma webinar. A consultation on the review that will check whether captives are being treated proportionally under Solvency II and make improvements if…

Belgium’s Asco confirms ‘large-scale’ ransomware attack

Belgium’s Asco confirms ‘large-scale’ ransomware attack

Belgium’s Asco confirms ‘large-scale’ ransomware attack

Belgian aviation manufacturer Asco has confirmed a “large-scale” ransomware attack that has taken down all business activities and its communications. Confirming the attack almost a week after reports first emerged, Asco said it has shut down activities at all sites in Belgium, Germany, Canada and the US. All systems have been “quarantined”, it added. Asco said it is working with…

New strategic direction for IAIS in 2020

New strategic direction for IAIS in 2020

New strategic direction for IAIS in 2020

The International Association of Insurance Supervisors (IAIS) has revealed that it is shortly to “embark on a new strategic direction”. It said that its 2020-2024 Strategic Plan and Financial Outlook has been approved, which sets out the high-level goals and strategies that will guide the association in its work for the next five-year period beginning 1 January 2020. Secretary general…

EIOPA calls for strengthening of insurance sector regulation

EIOPA calls for strengthening of insurance sector regulation

EIOPA calls for strengthening of insurance sector regulation

Regulation of the insurance sector should be strengthened, according to the European Insurance and Occupational Pensions Authority (EIOPA) in its recently released 2018 Annual Report. The report sets out its activities and achievements of the past year, as well as looking ahead. “EIOPA believes its regulation should be strengthened, in particular by an improved follow-up of the evaluations of supervisory…

New board members for Geneva Association

New board members for Geneva Association

New board members for Geneva Association

The Geneva Association has elected four new board members, from Ping An Insurance Company of China, Prudential Financial, The People’s Insurance Company of China, and Aviva. The Geneva Association is the global organisation of insurance and reinsurance chief executive officers. The four new members of the board are: Yuansiong Lee, co-CEO, Ping An Insurance Company of China; Charles F Lowrey,…

Cargo theft loss prevention must focus on insider threat: report

Cargo theft loss prevention must focus on insider threat: report

Cargo theft loss prevention must focus on insider threat: report

Theft from trucks continues to account for the highest proportion of cargo thefts worldwide and the threat from insiders – employees, contractors and even business partners – continues to rise, according to analysis carried out by transport insurer TT Club and supply chain intelligence firm BSI. The Global Cargo Theft Intelligence Report for 2018 found that thefts from trucks accounted for 84%…

BGC Insurance takes on aviation brokers with new launch

BGC Insurance takes on aviation brokers with new launch

BGC Insurance takes on aviation brokers with new launch

BGC Insurance Group, part of global brokerage BGC Partners, has launched a specialist global aviation and aerospace insurance and reinsurance brokerage to take on the big three market players. Marcel Chad has joined from JLT Aerospace, where he was a partner, to head up the new business. BGC Insurance said its client-focused approach and use of advanced technology to keep…

Hiscox rolls out cyberattack calculator

Hiscox rolls out cyberattack calculator

Hiscox rolls out cyberattack calculator

Specialist insurer Hiscox has developed an online calculator to quantify businesses’ exposure to cyberattack and boost mitigation. The Cyber Exposure Calculator uses a business’s location, sector and revenue to understand the value of data they hold and the potential financial impact of an attack. Hiscox said the calculator reveals a huge differential in exposure and risk between business types and…

1 2 3 550