The role for international programmes post-pandemic

The role for international programmes post-pandemic

The role for international programmes post-pandemic

The use of global programmes could actually increase as a result of the Covid-19 pandemic, according to experts from Zurich Insurance Group. IPN spoke to a small group of them, ahead of Commercial Risk’s two-day Global Programmes Europe conference (29-30 September). Q: Will the pandemic end the inclusion of employee benefits in global programmes or accelerate it?

Acting alone, or working together?

Acting alone, or working together?

Acting alone, or working together?

In many ways, the pandemic has accelerated isolationist policies, as governments close their borders to even their friendliest neighbours. The question for managers of global programmes is whether this trend is simply a blip or whether it is a sign of things to come in the regulatory space. Liz Booth hears the views of a number of experts. There has…

Rates to continue upwards

Rates to continue upwards

Rates to continue upwards

It seems that even a pandemic will not be sufficient to stop the insurance market in its determination to drive up rates and create more sustainability in its portfolios, as Liz Booth discovers. Rates are continuing the upward rise started in 2019, market experts confirm. Considering whether a recent dramatic hardening in directors and officers (D&O) cover and reducing capacity…

RMS pegs Hurricane Sally insured losses at $3.5bn

RMS pegs Hurricane Sally insured losses at $3.5bn

RMS pegs Hurricane Sally insured losses at $3.5bn

Insured losses from Hurricane Sally in the US last week will cost between $2bn and $3.5bn, according to an estimate from RMS. The figure includes losses of between $400m and $800m for the US’s National Flood Insurance Program (NFIP). The RMS estimate adds to AIR’s $1bn to $3bn loss range and Karen Clark & Company’s estimate of $2bn, although both…

The email challenge: easing the pain with artificial intelligence

The email challenge: easing the pain with artificial intelligence

The email challenge: easing the pain with artificial intelligence

Artificial intelligence (AI) and machine-learning are talked about a lot in the media and in business in terms of their potential and benefits. But for many people, there is a certain hesitancy about AI, and an element of the unknown. Will it really do what it is promising? Will it take away jobs? Who takes accountability? And there is often…

Continued improvement for rated US mutual sector in 2019

Continued improvement for rated US mutual sector in 2019

Continued improvement for rated US mutual sector in 2019

Rated US mutual insurance companies reported continued improvement in underwriting performance in 2019 and managed to grow surplus, despite a highly competitive property and casualty (P&C) industry and pressures on operating performance, according to AM Best. Net premiums written for Best-rated mutuals grew by just 2.6% in 2019. According to Best, although the pace has slowed in recent years, rated…

Buyers must check broker compliance as Brexit looms

Buyers must check broker compliance as Brexit looms

Buyers must check broker compliance as Brexit looms

Buyers need to start a dialogue with their brokers over post-Brexit compliance, because market access will not be guaranteed when the transition period expires at the end of this year, according to speakers at Airmic Fest. The Brexit transition period – which allowed UK firms continued access to the EU single market – ends on 31 December 2020. Hopes are…

EC starts work on pan-European pandemic risk transfer solution

EC starts work on pan-European pandemic risk transfer solution

EC starts work on pan-European pandemic risk transfer solution

Commercial Risk Europe has learned that the EC is setting up a working group to deliver risk transfer solutions for pandemics and other cat risks, which will consider a pan-European private-public pool with EU funding at the very top. After much discussion, this is the first concrete sign that work is officially underway on the topic. In a letter seen…

London market brokers choose Belgium as top EU base for post-Brexit business

London market brokers choose Belgium as top EU base for post-Brexit business

London market brokers choose Belgium as top EU base for post-Brexit business

Almost one quarter of London market brokers have set up a base in Belgium to continue operating in Europe after the UK’s transition period expires at the end of December, according to the London & International Insurance Brokers Association (LIIBA) that is confident members will be able to continue serving clients in the EU. The survey of London market intermediaries…

World’s top reinsurers record $1.1bn H1 2020 loss, says Aon

World’s top reinsurers record $1.1bn H1 2020 loss, says Aon

World’s top reinsurers record $1.1bn H1 2020 loss, says Aon

The world’s largest 23 reinsurers recorded a net loss of $1.1bn in the first half of 2020, according to Aon’s Reinsurance Aggregate (ARA) report, with Covid-19 losses of $8.2bn adding 9.7 percentage points to the group’s combined ratio of 104.1%. Aon adds that the reinsurers’ capital base remained strong and stable at $255bn, but Covid-19 hit financial results during the…

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