Nigerian insurer launches online travel insurance

Nigerian insurer launches online travel insurance

Nigerian insurer launches online travel insurance

Saham Unitrust Insurance Nigeria is reported to have launched its travel insurance solution online. Working with Swan International Assistance, Saham Unitrust’s move will enable customers to buy their travel insurance policies from any part of the world. The company said this is part of its efforts to be innovative and continue to make insurance more accessible to the public. It…

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Risk managers and brokers will have to work doubly hard during the coming months, as a concerted effort by the insurance market to tackle silent cyber will lead to heated discussions at the year-end renewals, potentially leaving some customers with serious coverage gaps. Despite buyer representatives welcoming the clarity that work to tackle silent cover will bring, a leading broker…

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening in the mining insurance market is accelerating, as large losses and capacity withdrawals make for challenging renewals, according to Willis Towers Watson (WTW). While not yet a true hard market, the tide has turned for property and casualty mining risks, making it harder for some mining companies to purchase the cover they desire, according to the broker’s Mining Risk…

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG announced yesterday that, as of January 2020, virtually all of its commercial property and casualty policies will begin affirmatively covering or excluding physical and non-physical cyber exposures. The US-based international insurance group said this move will address “market concerns” that traditional commercial insurance policies across the industry – from property to general liability – are often silent about cyber…

Tanzania plans boost for livestock insurers

Tanzania plans boost for livestock insurers

Tanzania plans boost for livestock insurers

Tanzania is considering introducing livestock insurance to promote local leather industries. The news emerged as the Tanzania Insurance Brokers Association (TIBA) held its annual conference. Tanzania ranks third in livestock population behind Ethiopia and Sudan. TIBA’s president Amir Kiwanda said the association would convince members to introduce livestock insurance, to not only promote small-scale livestock keepers but also national economic…

Insured H1 nat cat losses of $20bn lowest since 2006: Aon

Insured H1 nat cat losses of $20bn lowest since 2006: Aon

Insured H1 nat cat losses of $20bn lowest since 2006: Aon

Insured nat cat losses of $20bn in the first half of this year were 26% below the 18-year average of $27bn and the lowest since 2006, according to an estimate by Aon’s Impact Forecasting. With £73bn of economic costs 22% lower than this century’s average, the half year has generated a protection gap percentage points above the mean average of…

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb has launched the Chubb Travel Smart app for business travellers, to help manage risks for employees. The South Africa-based insurer said Chubb Travel Smart is the company’s duty of care solution designed specifically for employees to help manage and mitigate risks as they travel for work. It provides a range of benefits for business travellers, including pre-travel eLearning, direct…

Zurich on track to meet P&C targets as rates rise

Zurich on track to meet P&C targets as rates rise

Zurich on track to meet P&C targets as rates rise

Zurich is on track to meet turnaround targets for its P&C business this year, as it delivered a 4% boost to gross written premiums during Q1 to $9.2bn on like-for-like sales, and average rate increases of 2%. Zurich said it is ahead of targets set for the 2017-2019 period as part of a three-year plan to pull the insurer out…

Brazil dam failure pushes up mining rates in 2019

Brazil dam failure pushes up mining rates in 2019

Brazil dam failure pushes up mining rates in 2019

The Córrego do Feijão dam failure in Brazil, which tragically claimed the lives of more than 300 people in January, has had an immediate impact on capacity for mining sector casualty risks, with rates driven upwards by the loss, according to Marsh in its latest mining sector report. Tailings dams are at particular risk of increased premium rates, Marsh said.…

Engineering insurance key for African development

Engineering insurance key for African development

Engineering insurance key for African development

Engineering could be the key to the future for the insurance sector and Africa as a whole, according to Continental Re’s Cassim Hansa, managing director of Continental Re Botswana and Continental Re Property and Engineering Risk Services. Commercial Risk Africa chatted to Mr Hansa at this year’s Continental Re CEO Summit in Mauritius. Continental Re’s recent year-end 2018 results had…

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