BI
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October 15, 2021
Axis estimates Q3 cat losses at about $250m
Axis Capital will post a third-quarter pre-tax net loss for catastrophes and other weather-related events of approximately $250m. Bermuda-based Axis…
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October 14, 2021
Benelux security ministers to deepen cooperation on crisis management
National security ministers from the Netherlands, Belgian and Luxembourg met this week to try and foster deeper cooperation on crisis…
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October 13, 2021
Pandemic layoffs could result in litigation surge in Canada
Employers in Canada may be facing a surge in lawsuits charging that they mishandled widespread layoffs during the Covid-19 pandemic,…
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October 13, 2021
FCA criticises London market over contract certainty, price increases and claims
The UK regulator has told Lloyd’s and London company market insurers it is concerned they aren’t delivering contract certainty or…
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October 12, 2021
EC ‘cool’ on PPPs to boost resilience but parliament could yet change agenda, says MEP
An MEP told risk managers he fears the EC remains “cool” on public-private partnerships (PPPs) to protect business and society…
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October 12, 2021
Eiopa ready to back renewed call for PPPs for systemic risks
European risk managers can rely on the insurance supervisory community to continue to back the renewed campaign for public-private partnerships…
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October 12, 2021
Australian businesses lose BI Covid-19 test case
Australian businesses have lost a test case challenging insurers that denied payments for Covid-19 losses under their business interruption (BI)…
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October 12, 2021
Brokers raise concerns over Marsh’s role in UK’s live events reinsurance scheme: FT
The Financial Times newspaper has reported that the new UK government-backed reinsurance scheme for live events will be run by Marsh…
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October 11, 2021
Pool Re reviewing NDBI offering
UK terrorism backstop Pool Re is reviewing its non-damage business interruption (NDBI) offering following changes in the commercial insurance market…
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October 11, 2021
US nat cats set new record for events over $1bn: NOAA
The US recorded 18 billion-dollar weather events in the first nine months of 2021, which is “unprecedented” according to the…
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October 8, 2021
Ferma seeks to re-engage with EC on PPPs at Ferma Talks
Ferma aims to use its coming virtual event on 11-12 October to put proposals for public-private partnerships (PPPs) for catastrophe…
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October 6, 2021
ABI chief says insurers must work harder to boost reputation and trust
The insurance market has work to do to improve its reputation and build trust among customers, ensure cover responds as…
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October 6, 2021
Members told to prepare for ‘disorderly shakeout’
Airmic CEO Julia Graham summed up how many of us are surely feeling as the world tentatively attempts to return…
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October 6, 2021
Judge says Metallica’s Covid-19 lawsuit against Lloyd’s can proceed
A Los Angeles state court has refused to dismiss pandemic-related event cancellation litigation filed by heavy-metal band Metallica, despite a…
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October 4, 2021
Tysers debuts two music events policies
The big disruption of the event insurance marketplace during lockdown has caused widespread problems for people who work in the…
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September 27, 2021
German insurers have paid €1.5bn of Bernd claims, says GDV
German insurers have paid out €1.5bn of claims from the devastating floods that hit the country in July, with €400,000…
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September 24, 2021
RMS says Hurricane Nicholas losses will range between $1.1bn and $2.2bn
RMS estimates that US insured losses from Hurricane Nicholas will be between $1.1bn and $2.2bn. The figures includes wind, storm…
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September 23, 2021
US federal judge refuses to dismiss restaurant chain’s BI Covid-19 suit
A federal US judge who had already ruled in favour of plaintiffs in at least two Covid-19 business interruption lawsuits…
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September 21, 2021
BIBA launches new protection for buyers in entertainment sector
The British Insurance Brokers’ Association (BIBA) has launched a new product with Yutree Underwriting that offers protection against Covid-19 and…
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September 17, 2021
RMS ups Ida loss to $31bn-$44bn on back of inland flooding
RMS has increased its onshore and offshore insured loss estimate for Hurricane Ida to $31bn-$44bn, after adding $6bn-$9bn of claims…