QBE announced to the market this week that it expects a US$1.2 billion after-tax loss in 2017 on “unprecedented” natural catastrophe claims. “This has been a challenging year for QBE, reflecting an unprecedented cost of catastrophes as well as the …
The insurance protection gap in developing nations is being filled by a growing group of microinsurers, which provide coverage that ranges from life and health insurance, to crop insurance, to property protection after natural disasters. It is all aimed to …
Business interruption and cyber incidents interlink as the major threat facing companies over the coming year, according to a report published by Allianz Global Corporate & Specialty (AGCS). Allianz revealed that business interruption – including supply chain disruption – ranks …
The insurance protection gap. It’s a phrase that will be increasingly heard over the coming years – because it is getting bigger. The protection gap is the difference between insured losses and total economic losses. The protection gap, or those …
Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …
Parametric insurance can play a significant role in closing the insurance protection gap – a problem that plagues economies in both the developing and developed world, according to a report published by Clyde & Co. The protection gap is the …
The insurance industry will pay record claims of US$135 billion from last year’s spate of natural catastrophes, according to a report published by Munich Re. Further, Hurricanes Harvey, Irma and Maria (HIM), the Mexico earthquakes and wildfires in California created …
Twenty or so years ago, a London market marine underwriter declared he was going golfing one afternoon because he had reached his annual capacity level. That was an underwriting model commonly used in the Lloyd’s and London markets. Underwriters sat …
Blockchain, cyber, mergers and acquisitions and London’s devastating Grenfell Tower fire are just some of the topics that dominate the most popular articles in Insurance Journal’s International section during 2017. Here we provide an overview of 12 of the top …
QBE Insurance Group Ltd. has agreed to pay A$132.5 million (US$103.2 million) to settle a shareholder class action in Australia. The class action was commenced by Money Max Interest Pty Ltd on Sept. 9, 2015 in the Federal Court of …
