RSA launches its first cyber policy for large corporates
RSA is launching its first standalone cyber insurance offering for large corporates…
SCOR defends itself as activist investors complain over rejected Covéa bid
SCOR has reportedly reacted to pressure from activist investors over its rejection of an €8.2bn acquisition offer by French group Covéa, by reiterating its commitment to creating value for its long-term shareholders…
UK firms failing to grasp GDPR’s reporting deadlines, warns regulator
The UK data protection regulator has warned that some companies are “struggling” to fully understand that General Data Protection Regulation (GDPR) breaches must be reported within the first 72 hours. While the UK Government has warned that a no-deal Brexit would obstruct the free flow of personal data from the European Union (EU) to the UK, going on to urge its firms to proactively address potential disruptions…
Hurricane Florence loss estimates range from $2.5bn to $5bn
Hurricane Florence, which made landfall in North Carolina on Friday, is estimated to cost insurers less than feared at between $2.5bn and $5bn, according to a range of industry estimates, and will be easily absorbed by the market, experts say…
Marsh & McLennan Companies’ $5.6bn JLT acquisition all about growth, says Glaser
Marsh & McLennan Companies’ (MMC) planned acquisition of JLT for $5.6bn is all about delivering growth, said the buyer’s CEO Dan Glaser, who added that the deal will see his company become a “stronger” specialty broker…
Claims hit one in five insured M&A deals, with large transactions more exposed: AIG
Transaction risks in merger and acquisition deals remain high, with a claim on one in every five (19%) warranty and indemnity (W&I) policies covered by AIG, the insurer said on publishing its third annual market study…
Cargo insurance market remains highly competitive but there is ‘firming’
The global cargo insurance market remains highly competitive, with an abundance of capacity, but there has been a “firming” of market conditions…
Marine premium income not meeting claim costs
Maritime insurers should be grateful there have been no major claims in the past year, as they continue to offer premiums that fail to meet the cost of claims and expenses…
IUA drafts broad exclusion to tackle silent cyber exposures
The International Underwriting Association (IUA) has drafted a broad clause to address silent cyber risk. The clause can be inserted into almost any P&C insurance policy to totally exclude cyber exposures, although it includes a provision that would allow the contractual parties to agree to include cyber-related exposures on a case-by-case basis…