UK Regulator Seeks Court Review in July to Resolve COVID-19 Insurance Dispute May 8, 2020 By Carolyn Cohn and Kirstin Ridley Britain’s Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July,...
Complex Financial Products Aren’t the Solution to Climate Change or Pandemic: Opinion May 8, 2020 By Kate Mackenzie, Bloomberg Opinion Almost exactly four years ago the World Bank announced a pioneering project, the Pandemic Emergency Financing Facility, designed to develop...
DUAL Acquires Specialty Managing General Agency in New Zealand May 7, 2020 DUAL, the underwriting arm of Hyperion Insurance Group, announced the acquisition of a controlling interest in New Zealand specialty underwriting...
Forced Payouts of Pandemic Claims Risk Insurers’ Financial Stability: Regulators May 7, 2020 By Huw Jones and Carolyn Cohn Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk,...
Munich Re Expects Coronavirus-Related Claims in Excess of $1 Billion During 2020 May 7, 2020 Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis...
FERMA Forms Task Force to Find Solution for Non-Damage BI Cover – Such as Pandemic May 7, 2020 The Federation of European Risk Management Associations (FERMA) announced the launch of a task force to create proposals to address...
Zurich Canada Appoints Snider as Head of Risk Services May 7, 2020 Chris Snider has been named head of Risk Services for Zurich Canada. Formerly the manager of Risk Services – Property,...
Gas Leak at LG Chem Plant in India Kills at Least 7, Forcing Evacuation of Thousands May 7, 2020 By Archana Chaudhary An overnight gas leak at an LG Chem Ltd. polymer plant in southern India has killed at least seven people...
High-Rise Building Catches Fire in United Arab Emirates May 7, 2020 A high-rise tower caught fire Tuesday in the United Arab Emirates and authorities said it wasn’t immediately clear what caused...
Hiscox Raises £375M to Respond to U.S. Wholesale, Reinsurance Growth Opportunities May 6, 2020 By L.S. Howard Lloyd’s insurer Hiscox has successfully raised capital of approximately £375 million (US$465 million) as a result of an equity placement...