January 15, 2021
Small businesses, from restaurants to nightclubs and wedding planners to beauty parlors, on Friday won the right to insurance payouts after Britain’s highest court ruled many policies should cover losses caused by coronavirus lockdowns. Six of the world’s largest commercial …
January 4, 2021
Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two years ago. …
December 21, 2020
A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that give companies and private equity firms cover for when a deal goes wrong, industry officials say. Keen …
December 18, 2020
LONDON – There will be no judgment in an appeal over business interruption insurance this year, Britain’s markets watchdog said on Tuesday, dashing hopes of an early outcome in a case that could affect billions of pounds in claims. Britain’s …
December 17, 2020
Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021. …
December 17, 2020
Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a leading insurer showed. The total costs …
December 14, 2020
British insurer Aviva PLC is selling its Vietnamese business to Canadian insurer ManuLife Financial Corp, it said on Monday, as it pushes ahead with plans to pull out from its non-core markets. Aviva, under new boss Amanda Blanc, is looking …
December 11, 2020
LONDON – A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that give companies and private equity firms cover for when a deal goes wrong, industry officials …
November 25, 2020
Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …
November 19, 2020
Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that …