Property
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Hiscox links with CyberCube in cyber risk analytics deal
Hiscox has struck a deal to use cyber risk analytics software from CyberCube to provide greater clarity on its cyber…
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Australian government pressures insurers for claims data as bushfire losses near A$1bn
The Insurance Council of Australia (ICA) has reportedly said that insured losses from the bushfires still raging across the country…
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Munich Re places 2019 insured nat cat losses below ten-year average at $52bn
Last year’s insured natural catastrophe losses of $52bn were in line with the 30-year average but down on the $67bn…
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Munich Re reveals nat cat losses down but calls for better insurance protection in Africa
Last year’s insured global natural catastrophe losses of $52bn were in line with the 30-year average but down on the…
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IAG secures an extra $1bn cat reinsurance cover as bushfire claims soar
Insurance Australia Group (IAG), the biggest non-life insurer in Australia and New Zealand, has announced that it has finalised its…
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Fitch says reinsurance cover should help Australian insurers manage bushfire claims
Credit ratings agency Fitch Ratings has said that reinsurance protection and increased natural hazard allowances should help major non-life insurers…
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Neon to enter Lloyd’s run-off in 2020
Lloyd’s managing agency Neon Underwriting is being placed into run-off by its US owner American Financial Group (AFG). AFG said…
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Australian insurers meet government as insured fire losses hit $700m
The Insurance Council of Australia (ICA) and a group of industry leaders have met the country’s federal treasurer Josh Frydenberg…
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Risk managers must act to tackle climate change as premiums soar in Australia
Australian risk managers, particularly those in the tourism industry, must brace themselves for tough renewals during 2020 as the bushfires…
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Australian insurers advise government to focus on risk prevention as bushfires rage
The Insurance Council of Australia (ICA) has advised the Australian Government to significantly shift the focus of disaster relief towards…
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Swerma president urges insurers to boost innovation as market hardens
The president of Swedish risk management association Swerma has called on the insurance industry to improve product development and boost…
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Models must evolve to address silent cyber risks, says analytics firm
Cyber modelling tools must respond to the growing pressure on insurers to identify silent cyber risks within traditional non-cyber insurance…
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Philippines government seeks further cat protection to cover own assets
The Philippines government has signed a memorandum of understanding with the Government Service Insurance System (GSIS), which provides insurance cover…
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Action on silent cyber risks will drive market growth: Fitch
New approaches led by insurers to tackle the threat of silent cyber risks will boost the cyber insurance market, according…
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US managing agency launches new Lloyd’s syndicate
A new syndicate is to launch at Lloyd’s for 2020 after several unprofitable syndicates have withdrawn for the new year…
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Global P&C insurers hold on to stable outlook for 2020
The global property and casualty (P&C) industry has retained its stable outlook for 2020, despite increasing claims costs and low…
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AXA XL buys Lloyd’s coverholder Secure Legal Title
AXA XL has completed the acquisition of London insurance agency and Lloyd’s coverholder Secure Legal Title and is in the…
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Philippines government and IBRD forge path ahead for cat risk transfer to capital markets
The World Bank's International Bank for Reconstruction and Development (IBRD) has issued two tranches of catastrophe-linked bonds (cat bonds) to…
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Zurich and AIG on track to remove silent cyber in 2020
Some of the largest corporate insurers are on track to remove silent cyber from the majority of property and casualty…
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Aon Securities launches cat bond platform Randolph Re
Aon’s investment bank division Aon Securities has expanded its insurance-linked securities (ILS) business with the launch of a private placement…