In many emerging markets insurance can play a vital role in supporting a fledging economy but, even in 2016, many people simply have yet to discover insurance, let alone understand its benefits. However, an ambitious project aims to change that.
Global commercial insurance rates continue to fall but the rate of decline is slowing, according to new figures from Marsh. This trend is reflected in continental Europe and UK markets.
AGCS shakes up global property, engineering and risk consulting management, Allied World appoints Rob Kuchinski head of international property, Hyperion and Euroassekuranz strike deal to boost German offering and AGCS names Eaton as head of product recall in London.
AIG extends D&O policies to cover Brexit risk, Liberty Specialty Markets names Kadidja Sinz as new head of Europe, Chubb enhances policy for UK and Ireland advertisement producers and Allied World expands Asia property division with appointment of Walpole.
The Association of British Insurers (ABI) this week called for sprinklers to be made a legal requirement in all new warehouses larger than 2,000m2, as average payouts for commercial fires break the £25,000 barrier for the first time.
Private US property and casualty (P&C) insurers saw their collective profits fall, premium growth stall and combined ratio deteriorate in the first quarter of this year.
Commercial Risk Africa caught up with Chaucer CEO, Johan Slabbert, to get further details on his firm’s new tie-up with Axa, to launch Axa Africa Specialty Risks.
Travelers and Novae join Lloyd’s Construction Consortium to expand cover, Marsh’s George Davies to move to executive search firm Eliot Partnership and Barbican names Brendan McCarthy as marine cargo underwriter.
Clients of mutual commercial property insurer FM Global will collectively receive a $465m premium credit due to the firm’s latest strong operational and financial results.
Mapfre plans international construction business from London, AGCS name Spotswood senior tech PI and cyber underwriter and ACE appoints to MENA team.