Igrea signs up AGCS to claims charter but plenty more work to be done

Igrea signs up AGCS to claims charter but plenty more work to be done

Igrea signs up AGCS to claims charter but plenty more work to be done

Allianz Global Corporate & Specialty (AGCS) is the latest international insurer to sign up to Igrea’s claims charter that, among other key points, demands insurers confirm how they will deal with a claim and whether it is valid within 30 days of being served, as well as make payment within 60 days. The association of risk managers at leading Spanish…

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris are the most exposed European cities to a set of 22 risks, with a combined $24.6bn of annual GDP – or a third of Europe’s total losses – under threat, according to new research from Lloyd’s and the University of Cambridge. The Lloyd’s City Risk Index finds that market crash, cybercrime and floods are the top…

Igrea gives insurers chance to explain their claims strategies at Madrid event

Igrea gives insurers chance to explain their claims strategies at Madrid event

Igrea gives insurers chance to explain their claims strategies at Madrid event

The Spanish large corporate risk and insurance sector meets in Madrid today at the latest Risk Frontiers conference, organised by Commercial Risk Europe in partnership with Spanish risk management association Igrea. Claims, cyber and the future evolution of the insurance sector, not least given the recent major market consolidation, will be top of the agenda. Igrea believes there is significant…

Howden Broking Group appoints new CEO

Howden Broking Group appoints new CEO

Howden Broking Group appoints new CEO

José Manuel González has been appointed as CEO of Howden Broking Group. He will take up the role on 1 October 2018. Howden, part of Hyperion Insurance Group, said that in order to facilitate the transition, Mr González will assume the role of deputy CEO with immediate effect. Mr González is a member of the Hyperion Group executive committee and…

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global commercial insurance rates have risen for the second consecutive quarter, up 0.9% on average, driven by increases in property business and finpro lines, according to Marsh. However, overall pricing continues to fall in continental Europe, even though the rate of decline slowed again, the broker’s global insurance market index shows. The rise in global commercial insurance pricing was driven by…

GDPR fines insurable in just two European countries: Aon report

GDPR fines insurable in just two European countries: Aon report

GDPR fines insurable in just two European countries: Aon report

Fines under the EU’s General Data Protection Regulation (GDPR) will only be insurable in two European countries, according to analysis by Aon and law firm DLA Piper. In 20 of the 30 countries analysed, fines – which could be as high as €20m or 4% of a group’s global turnover – will not be insurable. Only companies in Finland and…

Mapfre global risks premium income wilts at Q1

Mapfre global risks premium income wilts at Q1

Mapfre global risks premium income wilts at Q1

Revenues fell 7.6% at Mapfre to €7.3bn at the Q1 stage, on the back of premiums worth €6.2bn, down 7.2%. Net earnings came to €187m (-9.3%). The Eurasia regional area produced premiums of €541m (-7.8%) in the first quarter, affected by the significant depreciation of the Turkish lira, which has fallen by 16.1% during the past year. Turkey contributed €151m,…

European Risk Frontiers survey already throwing up surprising results

European Risk Frontiers survey already throwing up surprising results

European Risk Frontiers survey already throwing up surprising results

Our annual european risk Frontiers survey of Europe’s leading risk managers, sponsored again by HDI Global, is this year being expanded to include a wider range of risk professionals by adding snap polls at industry events and online Q&As with our readers. This approach has already produced some interesting results that we believe will pose serious questions for the insurance…

US winter storms hit $3bn in March: Impact Forecasting

US winter storms hit $3bn in March: Impact Forecasting

US winter storms hit $3bn in March: Impact Forecasting

US winter storms are estimated to have caused $3bn in economic losses last month, with insurers picking up two thirds of the bill, according to Aon Benfield’s Impact Forecasting. Publishing its monthly global catastrophe report, Impact Forecasting said winter storms caused travel delays and damage, killing ten people, while March also recorded the US’s first tornado for a record 306…

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