Pandemic
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AXA estimates €1.5bn insured loss from Covid-19 and reduces dividend
AXA expects Covid-19-related claims of about €1.5bn this year and has cut its dividend payment pretty much in half as…
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Pandemic may accelerate long-awaited London market reform
News that credit ratings agency AM Best believes the rise of Covid-19 may finally force the adoption of long-awaited reform…
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Employees happier working at home, finds Cigna Europe study
Job satisfaction has increased in the UK during the Covid-19 outbreak amid enforced home working, according to a new study…
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Spain’s non-life insurers maintain stable AM Best outlook amid Covid-19
The Spanish non-life insurance market has retained a stable outlook under AM Best’s analysis that found it has shown resilience…
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African insurers waiting to see if BI claims arise
The impact of Covid-19 is yet to be fully assessed for many African insurers, both in terms of resulting claims…
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Insurers named in FCA BI test case as some accept previously disputed claims
Several insurers in the UK have agreed to pay previously disputed business interruption (BI) claims for Covid-19 as the Financial…
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Pandemic Re moves forward with further insurance industry backing
Allianz CEO and Association of British Insurers (ABI) chair Jon Dye has become the latest major insurance industry figure to…
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Brokers could be next in line for legal action over Covid-19 claims
Experts have warned that insurance brokers could be next in line for legal action from companies unable to get Covid-19…
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EC approves Dutch state support for trade credit cover
The European Commission has approved a Dutch guarantee scheme to support the trade credit insurance market in the face of…
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Large corporates in ‘robust discussions’ over Covid-19 BI claims
Large corporates are in “robust discussions” with their insurers and brokers over Covid-19 business interruption (BI) claims, as smaller businesses…
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Anchored vessels during pandemic create new risks for maritime sector, warns AGCS
Ships left idle during the Covid-19 pandemic have created a new set of risks for maritime companies, warns Allianz Global…
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Risk managers should drop one-dimensional registers
The onslaught of Covid-19 has revealed the pressing need for risk managers and their partners in the insurance sector to…
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Less than a quarter of firms plan return to old business model post-Covid-19, finds BCI survey
Less than a quarter of organisations plan to go back to their old business model after the Covid-19 pandemic, according…
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European insurers and reinsurers stand up to pandemic test, say ratings agencies
The Covid-19 pandemic has tested European insurers’ capitalisation but the sector has weathered the biggest shock since Solvency II was…
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Pandemic version of TRIA enters US Congress
New legislation to insure American firms against business interruption (BI) losses in future pandemics has been introduced to US Congress,…
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Security risks spike as pandemic lockdowns lift, warns International SOS
Corporates will need to manage emerging and exacerbated security risks from the Covid-19 pandemic as lockdowns lift, according to International…
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Risk of a natural catastrophe cannot be ignored, despite Covid-19
A natural catastrophe now would make the pandemic “incomprehensibly” worse, according to one South African risk expert. Dr Arthur Linke,…
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Ferma calls on EU to create framework for pan-European NDBI pooling system
Ferma has called on the EU to create a resilience framework that would include member state insurance pools and coordination…
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Paris court orders AXA to pay BI losses for restaurant chain
An emergency summary procedure carried out by the Paris Commercial Court has ruled that AXA must pay a restaurant owner…
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UK insurers with ‘loose’ BI wordings could face credit pressure: Fitch
Credit ratings agency Fitch has said that “loose” business interruption (BI) wordings in some cases may well impact the credit…