Deloitte News

Global Insurers Face High Compliance Costs with New Accounting Rules

Insurers in over 100 countries face a “once in a lifetime” accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. Twenty years in the works, the new …

Confusing, Costly Cyber Policies Create Obstacles to Market Growth: Deloitte

Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale basis. A recent report published by accounting and …

UK Firms Lack Board-Level Digital Skills to Deal with Cyber Attacks: Deloitte

Only 5 percent of large U.K. companies say their boards include directors with expertise in information technology or cyber security, even though the vast majority identify hacking and other digital threats as serious risks, a report showed. In the event …

Q&A: Deloitte Insurance Expert Discusses Hurricane Season and Flood Insurance

Although Atlantic hurricane season ends in November, cleanup from any damage seen on the East Coast could last beyond the end of the season. Some coastal areas, such as Virginia Beach, were impacted this season, particularly by flooding. Flooding is …

Number of UK Firms Backing EU Membership Drops Over Past 6 Months: Deloitte

The majority of big British businesses that favor Britain remaining in the European Union has dwindled over the last six months, according to a quarterly survey of chief financial officers published on Monday. Accountancy firm Deloitte said 62 percent of …

UK Insurance Software Provider Innovation Group Wins Major Contract

British insurance software company Innovation Group said on Wednesday it had secured a 46 million pound ($72.3 million) contract with a major client, its third and biggest new business win this year. The deal, which will see Innovation’s products used …

P/C Insurance M&As: Deal Value Up, More to Come

Merger and acquisition activity in the property/casualty industry is increasing in deal value and will likely expand from reinsurers to primary carriers, according to two new industry reports. Deloitte said that the average deal size in the sector grew more …

Top 3 Trends for P/C Insurers: Deloitte

Property/casualty insurers should be thinking about transforming how they do business and how they can better deploy technology if they want to pursue long-term growth, according to the Deloitte Center for Financial Services. They must also deal with regulatory uncertainty, …

How Carriers, Agents Can Adapt As Small Commercial Buyers Move Online

Small Commercial Buyers Moving Online: Who Are They? What Do They Want?