Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price increases became necessary after 10-plus …
QBE Insurance Group’s Chief Executive Officer Pat Regan is departing the insurer after an external investigation found his workplace communications did not meet the standards set out in the group’s code of ethics and conduct. The investigation was conducted following …
A car owner should be able to pay lower insurance premiums for driving a car with safety features, such as automated braking that stops the car when the driver is distracted or lane keep assist systems that help prevent a …
It’s not just insurtech startups that have an edge on innovation. Some established reinsurers have developed their own analytics and technology divisions that offer a variety of insurtech-type solutions for clients. Swiss Re, for example, set up such a unit …
Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural disasters across the globe …
Nexus Group, the UK-based managing general agent, is looking to the U.S. for growth opportunities, despite the raging COVID-19 crisis. “With the political landscape and Brexit, it was an obvious choice for us to focus our attention on the U.S.,” …
Lloyd’s of London is proposing solutions that could provide customers with greater protection against a future wave of the COVID-19 virus or future systemic – “black swan” – catastrophes, such as another pandemic, a global cyber attack or a solar …
Aon will end the salary cuts implemented in May as a response to the economic uncertainties caused by the COVID-19 pandemic. Effective July 1, Aon will end the salary cuts and repay colleagues for the lower pay, although a 50% …
Cyber losses among businesses have risen nearly six-fold during the past year, from a median cost of $10,000 per firm to $57,000, according to an international survey commissioned by insurer Hiscox. Total cyber losses among the study group rose from …
Investment in infrastructure development is set to be one of the main drivers of growth in emerging markets after the COVID-19 crisis subsides, according to Swiss Re’s latest sigma report. Emerging markets will invest US$2.2 trillion in infrastructure annually over …
