Insurance
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Solvency II ‘a highly rules-based exercise’, says Best
Solvency II has moved the European regulatory regime significantly towards a consistent, rigorous and market value-based system, but along the…
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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…
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Use hackonomics to ensure your business is less enticing cyber target than competitors, advises Centre for Risk Studies
Experts from the University of Cambridge advise corporates to use hackonomics to assess whether they are likely targets for cybercriminals…
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MIB votes on UK motor-terror liability mutualisation
The Motor Insurers' Bureau (MIB) has opened a ballot of its members that could result in the mutualisation of third-party…
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Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’
Cross-border insurance contracts and pensions affected by Brexit must be grandfathered after the UK leaves the EU, argues TheCityUK in…
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Average Atlantic hurricane season predicted with insurers well placed to cope: Moody’s
Weather experts are predicting an average Atlantic hurricane season for 2018, largely based on cooler average sea-surface temperatures and a…
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Firms’ cyber resilience fails to learn lessons of past breaches: survey
Only 13% of company executives across the world are confident that their firm has acted on lessons learnt from cyber…
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Ferma urges new EC group to address AI ethics in underwriting and corporate world
Ferma has called on the EC’s new expert group looking into the role of artificial intelligence (AI) to consider the…
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Beazley includes latest cyber threats in updated policy for large firms
Beazley has revamped its cyber policy for large businesses to cover the latest threats of cyberattack, in a bid to…
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Grahame Chilton steps down as CEO of Gallagher’s UK business
Grahame Chilton is to step down from his role as CEO of Arthur J Gallagher’s UK brokerage and underwriting business.…
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Credit Suisse returns to capital markets to top up operational risk bond
An insurance-linked securities (ILS) deal worth CHF146m ($148m) has been put in place to cover operational risks for investment bank…
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UK trade credit claims hit record Q1 high on back of Carillion fallout: ABI
The UK has seen its highest level of trade credit insurance claims since 2009 with the £54m paid out in…
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Study reveals resurgence of Europe’s mutual and cooperative insurance sector
Europe’s mutual and cooperative insurers have seen a resurgence in business in recent years, according to a study jointly published…
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Chinese group in offer to acquire National Bank of Greece’s insurance subsidiary
The National Bank of Greece has received one binding offer from Shanghai-based investment company Gongbao for a majority stake in…
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US commercial insurance pricing sees modest increase in first quarter
There was a modest increase in commercial insurance prices in the US in the first quarter of 2018, according to…
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Geographic expansion offers both risk and rewards – Best
According to a new AM Best report, an insurer’s decision to expand into new states can have impacts on both…
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Online gaming company’s insurer pays out for record €90m win
An insurance subsidiary of online gaming company Lottoland has paid out to cover a jackpot win of €90m. Gibraltar-based Fortuna…
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African initiatives in parametric insurance for agriculture
Parametric or index-based insurance can play a significant role in closing the insurance protection gap – the gap between insured…
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XL Catlin looks to plug motor terror gap
XL Catlin has launched a global terrorism product for commercial motor fleet operators, helping plug a gap that currently exists…
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Loss ratios rising in engineering and construction market, reports Swiss Re
Underwriting performance in the engineering and construction insurance sector has deteriorated in recent times with loss ratios and claims rising…