Consorcio de Compensación de Seguros tax information changes in Spain

Consorcio de Compensación de Seguros tax information changes in Spain

Consorcio de Compensación de Seguros tax information changes in Spain

Major changes in the information required to pay and declare Consorcio de Compensación de Seguros (CCS) taxes in Spain will come into force from 1 January 2019, according to insurance premium tax (IPT) specialists Impendulo. The changes will affect both extraordinary risk taxes and the Winding up of Insurance Companies Fund (formerly known as the CLEA), from 1 January 2019.…

Claims Insights – from data to information to action

Claims Insights – from data to information to action

Claims Insights – from data to information to action

Data is widely available and easy to access. However, gaining useful, relevant and practical information from that data, and translating it into actions that improve the risk, is what really provides value for a company and has a positive business impact. Customers often own a lot of data but they may not see the value of analysing the information they…

Marsh rolls out digital broker for affinity clients

Marsh rolls out digital broker for affinity clients

Marsh rolls out digital broker for affinity clients

Marsh has launched a digital broker platform for the affinity market that it said will change the way new and more tech-savvy clients want to manage insurance programmes. Bluestream is a cloud-based platform that will allow its affinity clients to streamline the way they offer insurance and services to their customers, contractors or employees. Marsh said the digital platform is…

Captive report from Chubb and Clyde & Co highlights emerging global challenges

Captive report from Chubb and Clyde & Co highlights emerging global challenges

Captive report from Chubb and Clyde & Co highlights emerging global challenges

Captives continue to be a highly effective and versatile alternative and/or complement to traditional risk transfer options, covering a much wider range of exposures than ever before, including environmental risk, cyber exposures, reputation and employee benefits. This is according to a new report, Emerging Global Challenges for Captives, produced by Chubb Europe and Clyde & Co. The report also notes…

IFRS 17 standard start date delayed

IFRS 17 standard start date delayed

IFRS 17 standard start date delayed

Following widespread calls for more time to prepare for the implementation of IFRS 17, the International Accounting Standards Board (IASB) has proposed postponing the new accounting standard by one year to 2022. The controversial new standard, which will introduce a comprehensive, principle-based framework to account for all types of insurance contracts, is intended to create greater transparency and bring accounting…

IAIS re-elects chair and approves supervisory papers at AGM

IAIS re-elects chair and approves supervisory papers at AGM

IAIS re-elects chair and approves supervisory papers at AGM

The International Association of Insurance Supervisors (IAIS) has re-elected the Bank of England’s Dr Victoria Saporta as chair, at the annual general meeting of members held at its 25th Annual Conference. Also at the annual general meeting, the IAIS executive committee approved the public consultation document on the holistic framework for the assessment and mitigation of systemic risk in the…

Caribbean insurers facing increased reinsurance costs, says Best

Caribbean insurers facing increased reinsurance costs, says Best

Caribbean insurers facing increased reinsurance costs, says Best

Reinsurance costs for property/casualty insurance companies in the Caribbean have increased in 2018, according to AM Best, and further increases could lead to a rise in primary insurance rates. In a survey of its rated entities in the region, Best found that 60% of insurers indicating sharper increases were in loss-affected territories from previous-year hurricane losses, rather than those territories…

RSA exits London market specialty lines and cuts back international offering

RSA exits London market specialty lines and cuts back international offering

RSA exits London market specialty lines and cuts back international offering

RSA Group is exiting three lines of specialty business and scaling back its London market premiums by one third. Following a review of its specialty and wholesale business written through RSA Global Risk Solutions, the insurer will withdraw from international construction, international freight and fixed price marine protection and indemnity insurance with immediate effect…

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