Insurance
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US severe thunderstorms to cost insurers up to $7bn—AIR
The outbreak of severe thunderstorms that struck the US in May will result in insured losses of between $4bn and…
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Portuguese non-life premium stagnant
Premium collected by the insurance sector in Portugal fell sharply in the first quarter of the year, according to data…
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MARSH: Market has been slow to adapt to climate change
The recent slew of severe weather events and natural catastrophes has highlighted the need for better catastrophe risk management, according…
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Perception is all
There is a growing suspicion among Europe’s risk and insurance managers that insurers and brokers are reacting too slowly to…
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Political violence, strikes and war added to terror as main threats to continuity—Aon
Aon has added acts of political violence, strikes and war to its annually produced and popular political risk map that…
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Chartis creates global programmes powerhouse in London
Chartis UK has launched a Multinational Centre of Excellence designed to provide customers and brokers with a focused source of…
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WWF: Total reliance on renewable energy possible in 40 years
With the nuclear power industry facing an uncertain future worldwide following the Japanese earthquake, a report from the WWF says…
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XL launches European cyber risk product
XL Insurance has launched XL Eclipse, which it says is a comprehensive ‘cyber-risks’ solution especially designed for European businesses.
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Broker suggests risk incubation via captives for cyber risks
With cyber risk in the news following Sony’s recent €2bn security breach loss and cyber attacks on the rise overall,…
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Rating outlook benign for foreseeable future say leading UK risk managers
Despite record catastrophe losses in the first quarter of 2011 commercial insurance rates are likely to remain flat, with many…
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Date agreed for market meeting to kick-start global programmes solution
FERMA and Airmic have fixed a date for a meeting with representatives of leading international insurers and brokers to try…
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Argentina addresses reinsurance capacity fears and gives guidance on new rules
The Argentinian government has announced that at least two foreign companies are likely to be operating in its reinsurance market…
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EIOPA lacks teeth to ensure EU regulatory harmonisation, explains lawyer
The newly created pan-European insurance supervisory body, the European Insurance and Occupational Pensions Authority (EIOPA), has little extra power than…
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Inex24 yet to convince DVS president with key players not on board
The president of the German risk managers’ association DVS is openly sceptical about the proposal for the new electronic insurance…
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Corporate round-up
Kane completes acquisition of HSBC Insurance Management and names key appointments, Brit insurance opens Lloyd’s service company in Sydney, Marsh…
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New regulations top risk for insurance industry, says poll of 500 experts
The raft of new international and local insurance regulations facing the insurance industry, governing issues such as solvency and market…
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ICC calls for fast government action on piracy threat that is hitting world trade
With the number of piracy attacks as ever on the increase off the Somali coast the International Chamber of Commerce…
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Health and safety a burden says UK industry as BCC call for changes to regulation
Half of UK businesses believe that health and safety ‘yellow tape’ and regulations are a burden, according to a recent…
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Higher than normal US hurricane activity predicted for upcoming season
Various forecasters are predicting an above normal 2011 US hurricane season, with Tropical Storm Risk (TSR) predicting Atlantic basin and…
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MAPFRE and Mitsui Sumitomo extend global agreement
Spanish insurance group MAPFRE and Mitsui Sumitomo Insurance (MIS), the Japanese non-life insurance group, have extended their existing partnership agreement…