Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70% above the 10-year average — as extreme wildfires, droughts and floods upend historical norms. The data, which were compiled by Munich Re, …
Allen appointed as Head of Financial Lines for Oneglobal Bermuda Oneglobal Broking, the London-based specialist broker, announced that Christina Allen will join Oneglobal Bermuda as head of Financial Lines. Allen will report to group CEO, Mike Reynolds, and will officially …
The European Union’s executive body urged caution on Tuesday in the face of calls for a public-private scheme for insuring companies against economic lockdowns in future pandemics. “This is a very complex debate and needs time to mature,” John Berrigan, …
The Federation of European Risk Management Associations (FERMA) is concerned about proposed cyber insurance guidelines being developed by the International Organization for Standardization (ISO), calling them “premature” and “inappropriate.” The proposed standard, ISO/IEC 27102, encompasses information security management guidelines for …
A global standards body has proposed a one-year delay to implementing its new accounting rule aimed at increasing visibility in how insurers earn money, after the industry said it needed more time to prepare for such a sweeping change. A …
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 …
Britain suffered further blows to its economic standing on Monday as two top ratings agencies downgraded its sovereign credit score, judging last week’s vote to leave the European Union would hurt its economy. Standard & Poor’s stripped Britain of its …
The UK joined the European Union in January 1973, and yesterday, the UK public voted to leave. After 43 years of marriage, the divorce proceedings will soon begin. No one knows how long it will take for the UK to …
Domestic regulators are increasingly “gold-plating” new European insurance capital rules by adding their own more stringent requirements, according to a survey of insurance trade associations. Two-thirds of national trade insurance bodies surveyed by Insurance Europe, the umbrella group for the …
The American Insurance Association (AIA), Insurance Europe, and the American Council of Life Insurers (ACLI) have jointly issued a bulletin that reiterates their support “for the full inclusion of insurance in the Transatlantic Trade and Investment Partnership (TTIP).” The three …
