Failure to Act on Climate Change Could Make Weather Risks Uninsurable: Swiss Re April 8, 2020 By L.S. Howard Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty...
Canadian Insurers Hit with Lawsuit on Refusal to Pay COVID-19 Biz Income Claims April 6, 2020 By L.S. Howard A class action lawsuit has been filed against Canada’s top indemnity insurers for breach of contract in their refusal to...
COVID-19 Claims to Hit Lloyd’s on Multiple Lines, Says CEO Neal April 6, 2020 By L.S. Howard Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a...
Reinsurers ‘Smoothly’ Navigated April Renewals, Despite Working from Home: Willis Re April 1, 2020 By L.S. Howard Reinsurers were able to complete the April renewals smoothly, despite being forced to move to the new working-from-home model after...
Activist Fund CIAM Keeps Pressure on Reinsurer SCOR – and its CEO/Chairman Kessler March 30, 2020 By L.S. Howard The battle between French activist investment fund CIAM and SCOR, which has been waging for more than a year, heated...
Sirius International Launches Formal Process to Find a Buyer March 30, 2020 By L.S. Howard Sirius International Insurance Group, Ltd. (Sirius Group) announced it has launched a formal process to sell the company after a...
Lloyd’s Faces COVID-19 Claims from Multiple Insurance Lines, Says CEO Neal March 27, 2020 By L.S. Howard Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a...
Lloyd’s Returns to Profit, Says in ‘Strong Position’ to Respond to COVID-19 March 26, 2020 By L.S. Howard While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is...
UK Regulator Warns Insurers to Have ‘Robust’ Coronavirus Contingency Plans March 19, 2020 By L.S. Howard The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have “robust” operational resilience and business continuity plans in...
Lloyd’s Closes London Underwriting Room in Response to Coronavirus Crisis March 19, 2020 By L.S. Howard After conducting a successful stress-test last week of its electronic trading system, Lloyd’s has made the decision to close its...