The insurer of London’s Grenfell Tower, where at least 80 people died in a devastating fire, raised its estimate for property and liability insurance claims to 50 million pounds ($65 million) on Friday [July 7]. British police have said the …
Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …
Olso-based Protector Forsikring is the insurer of Grenfell Tower, the residential block that was destroyed last week by a raging fire that killed 79 people. “Based on the information we have as of now, the damage is estimated at more …
Second of Two Articles There has been a lot of press – and perhaps hype – about blockchain and its potential to revolutionize the industry’s processes and ultimately improve the customer experience. However, the efforts of the industry’s B3i initiative …
Neos, a UK connected home insurer, announced last week it has secured a £5 million (roughly $6.4 million) series A investment led by Aviva Ventures together with strategic partner Munich Re. The strategic investment accelerates Neos’ growth as the UK’s …
The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of around 200 million euros ($224 …
The soft pricing in the global reinsurance market will continue, at least, for the rest of the year, Fitch Ratings says. Fitch expects premium rates to continue declining as a result of large amounts of under-deployed capital and sluggish demand …
Reinsurers Munich Re and Hannover Re both reported that first quarter results are on track to meet their annual targets, despite Q1’s higher level of catastrophe claims. Munich Re reported consolidated first quarter profit rose 22 percent to €557 million …
For companies and organizations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber crime insurance, it’s free marketing for what could be a $10 billion opportunity. …
ERGO, Munich Re’s troubled primary insurance company, is making a digital push in the massive Chinese market. Mark Klein, ERGO’s chief digital officer, recently visited China to explore how the insurer can partner on data with Chinese companies, such as …
