German reinsurance giant says Hurricane Ida and Storm Bernd will cost it around €1.8bn
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Lack of access to real-time management information while working remotely has left many brokers without access to the data required to make critical decisions
With many Covid-19 disputes being dealt with by arbitration instead of court proceedings, the market is being left without legal precedent as to how to deal with these types of cases
Long Covid has implications for employers and their insurers
The ball is in reinsurers’ court as to whether they aggregate pandemic-related business interruption claims after the Supreme Court rejected Covid-19 as a single event, but there is cautious optimism a solution will be found
Move will have far-reaching implications for insurers, as US targets ransomware payments, lawyers warn
It is critical the reinsurance market avails itself of the expertise in related classes in order to tackle the monumental challenge of cyber
Reinsurers are eyeing aggressive cyber growth, but rate rises alone will not be enough to achieve sustainable growth
The evolution of cyber attack activity as a service economy that enables unskilled actors to purchase attack capabilities and tools is a major challenge for risk modellers
Insurtechs are working with insurers and distribution partners to drive economic growth in developing regions, and create sustainable, resilient futures for underserved communities
The industry can’t afford to take its foot off the gas pedal with respect to digitalisation, especially given the significant momentum that it has gained over the last 12 months
The insurtech landscape is evolving rapidly and it is critical to understand the main business models that are shaping the future of the market at present
The FCA estimates the authorisation process for new insurtech ventures takes between three to four months – in reality it is taking up to 12 months
As mega-ports and inland transportation routes speed up to meet global demand, the ongoing imposition of Covid-19 restrictions is a major factor driving up the volume and cost of claims
Elevated combined ratios look like being the norm across the International Group for some time yet, as payouts and expenses continue to breach premium income
After three years of hardening rates in hull and cargo, capacity inflows are starting to dampen price hikes, but underwriters warn the segment’s risk profile has not fundamentally changed
The sector must grapple with a challenging mix of threats
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