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- July 22 2024
BI claims in focus as carriers assess losses amid global tech outage
The event could impact other lines beyond cyber including tech errors and omissions, D&O, and insurers may see liability and supply chain disruption claims.
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- July 19 2024
Global tech outage could see claims snowball but insurers ‘wait-and-watch’
The impact on the industry will depend on the “waiting period” , however, there could be long-term BI and other complex claims.
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- July 19 2024
Noto earthquake, China floods among costliest H1 2024 economic loss events: Aon
The Noto earthquake remained the costliest event of the year to date in terms of total economic losses with more than U$17bn in direct damage, according to the broker's new cat recap report for the first six months of the year.
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- July 18 2024
Commercial property specialist FM Global rebrands as FM
FM will serve as the parent brand for its flagship mutual insurance company and commercial property insurer AFM.
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- July 10 2024
Chubb promotes Marcos Gunn as head of APAC, Paul McNamee as president of overseas GI
McNamee will be in charge of Chubb's general insurance business in 51 countries outside of North America, as Marcos Gunn will succeed his previous role as head of Asia Pacific, both effective immediately.
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- July 9 2024
Civil unrest, terrorism threats linger as Paris Olympics opens doors to 11 million visitors: WTW
The Games could point to more political violence losses as the anti-pension reform protesters have threatened to undermine the hosting of the event.
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- July 6 2024
APAC to account for 8% of non-US cyber premium growth by 2030: Howden
Despite cyber insurance pricing dropping by 15% from the 2022-peak, growth opportunities abound especially among new geographies such as Asia Pacific, and niche segment such as SMEs, Howden said in its annual cyber report.
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- July 4 2024
Zurich-owned Cover-More announces new group CEO
David Fike will lead the company through a significant integration phase following Zurich's acquisition of AIG's global personal travel insurance and assistance business.
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- July 3 2024
Pricing and capacity ease at 1.7 renewal as underwriting scrutiny persists: brokers
Reinsurance buyers experienced a more welcoming market, and loss-free programs saw price easing at July 1 renewals compared to recent years thanks to positive results, Gallagher Re and Guy Carpenter said in their mid-year renewals reports.
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- June 26 2024
Zurich to buy AIG travel insurance business for US$600m
The Swiss insurer will add AIG's Travel Guard brand to Cover-More, which will take the business to a combined annual GWP of about US$2bn.
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- June 24 2024
QBE hires Marsh veteran Julie Minor as global distribution head
Before joining the insurer, Minor was a managing director at Marsh and has over 20 years of experience in senior management roles.
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- June 14 2024
Opinion: Brokers keen to see underwriters back in the market
The post-pandemic hybrid environment and the development of AI means that queries and placements are significantly lacking in any human interaction for increasingly commoditised risks.
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- June 10 2024
Global reinsurance outlook upgraded to “positive” on strong profit margins: AM Best
Global reinsurers' strong underwriting margins and return-on-equity enable them to absorb large losses seen in the first quarter 2024, as the sector outlook improved from "stable" to "positive".
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- June 7 2024
Risk managers need to look beyond the immediate as boards and brokers call for change
Geopolitical uncertainties, AI, growing complexity of risks and the need for the industry to adapt dominated discussions at Airmic 2024.
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- May 16 2024
Swiss Re to exit unprofitable digital white-label platform iptiQ
The reinsurer's Asia premiums grew 5% to US$3.5bn year-to-date from renewals; books US$100m losses from Baltimore Bridge collapse.
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- May 16 2024
Swiss Re China head Ivan Gonzalez appointed CorSo global CEO
Gonzalez will succeed Andreas Berger, the incoming group CEO, effective July 1 and relocate to Zurich. He will be succeeded by Beat Strebel, currently the market unit head for Middle East & Africa.
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- May 16 2024
Cyber attacks top business risk for financial institutions: Aon
Failure to attract and retain top talent, which is now at eighth position, is expected to rise to third place as a future risk, according to a survey by the broker.
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- May 16 2024
UN climate alliance’s second try takes consultative, multi-industry approach
The newly formed Forum for Insurance Transformation comprises (re)insurers, brokers, law firms, regulators, scientists and climate experts to drive net-zero transformation.
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- May 2 2024
Peak Re reports best-ever net profit of US$200m in FY 2023, COR down to 87.3%
The Hong Kong carrier's reinsurance revenue saw a 14.6% year-on-year decline in FY 2023 at US$1.56 billion.
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- May 1 2024
Russian oil price cap ‘unenforceable’, says IG P&I
Over 800 tankers have left to join the so-called "shadow fleet", according to an International Group statement to a UK parliamentary hearing.