Property
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Large firms could also benefit from FCA’s test case, says claimant lawyer
Large corporates may stand to benefit from the Financial Conduct Authority’s (FCA) business interruption (BI) test case, which finished last…
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Duperreault says Covid-19 remains earnings event despite AIG’s Q2 $7.9bn loss
AIG posted a net loss attributable to shareholders of $7.9bn in the second quarter of this year, compared with a…
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Swiss Re says ‘light at end of tunnel’ for Corporate Solutions despite $301m H1 loss
Swiss Re sees “light at the end of the tunnel” for its Corporate Solution business and said the unit’s transformation…
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RMS pegs Hurricane Hanna’s losses at $400m
RMS estimates that insured losses from Hurricane Hanna will be under $400m. The estimate includes a loss of up to…
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Marsh index shows commercial insurance prices up 19% in Q2
The cost of commercial insurance is rising at an increasingly alarming rate for buyers, according to Marsh’s Q2 Global Insurance…
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Australian insurers and ombudsman to file test case on BI pandemic exclusions
The Insurance Council of Australia (ICA) and the Australian Financial Complaints Authority (AFCA) have agreed to file a test case…
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Chubb sees average rate increases of about 15% in second quarter
Chubb saw P&C rates increase by 16% in international business and 14% in North America during Q2, as the commercial…
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FCA business interruption test nears conclusion but ruling not for a few weeks
A landmark court case between the Financial Conduct Authority (FCA) and eight insurers over disputed business interruption (BI) losses in…
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RSA’s half-year profit down just 7%
RSA’s pre-tax profits were down 7% in the first half of 2020 to £211m after booking £54m in Covid-19 market…
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FM Global urges Asia-Pacific leaders to retain focus on climate risks
Recovery from the Covid-19 pandemic and preparation for a potential second wave is clearly top of the agenda currently for…
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Axis, Markel and Lancashire report mixed results
Axis, Markel and Lancashirehave posted mixed second-quarter and half-year results, as they grapple with varying degrees of Covid-19 underwriting and…
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KCC estimates Hurricane Hanna insured losses of $350m
Insured losses from Hurricane Hanna will near $350m, according to an initial estimate from Karen Clark & Company (KCC). KCC’s…
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Ferma welcomes Eiopa’s ideas on pan-European pandemic insurance solution
Ferma and other buyer representatives have welcomed a new paper from the European Insurance and Occupational Pensions Authority (Eiopa) that…
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Cat bonds placed in H1 up 20% on whole of 2019 and pipeline to continue: Aon
Property cat bond issuance in the first half of 2020 is already 20% higher than the whole of 2019 at…
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Insurance buyers urged to start talking early as market hardens due to Covid-19
UK risk managers taking part in our Risk Frontiers Europe survey predict the insurance market will continue to harden, partly…
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Mixed reaction to insurers’ Covid-19 response
Belgian risk managers taking part in our Risk Frontiers Europe survey were split on how insurers have reacted to the…
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Heavy pandemic losses push several carriers into the red
The (re)insurance industry has suffered some heavy Covid-19 losses in the second quarter, pushing some into the red, with Swiss…
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Half-year insured nat cat losses below ten-year average at about $30bn but above longer-term norm
Natural disasters cost the insurance industry an estimated $30bn in the first half of 2020, 21% lower than the ten-year…
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FCA High Court case to resolve disputed Covid-19 claims begins
A keenly awaited court case, aimed at resolving disputed Covid-19 business interruption (BI) claims, has got underway in the UK’s…
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Ferma uses consultation to press EU to create pan-European transfer solution for systemic risks
Ferma has told the EU in a public consultation that it should help create a pan-European risk transfer solution for…