The broker’s hotly awaited new business plan has been cautiously welcomed, but many wonder whether its ambitions are achievable
One-third of new hires must be from ethnic minorities, as Corporation claims progress on key employee metrics
Making complex issues simple
Focusing on what matters to the market, understanding the forces that are shaping the industry
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
Insurers continue to operate in an uncertain landscape as Covid-19 related issues re-emerge as areas of contention for future legal challenges
Moody’s Helena Kingsley-Tomkins on the outlook for the reinsurance industry in the next couple of years
Many in the industry expect shortages to be resolved within the next 12 to 18 months, but there are other factors to consider including increased levels of risk because of the impact on quality control
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
The main responsibility for monitoring and investigating cyber crime rests with government and law enforcement, but businesses and their insurers also have a key role to play
Concerns over ransomware losses and risk accumulation have sent some cyber reinsurers into retreat mode. However, in a hardening market ripe with opportunity, insurers that truly understand their exposures should find no shortage of willing capacity
The increased vulnerability of larger banks to single points of failure technologies is resulting in significant losses despite the higher level of defensive measures in place
Innovative technology firms are driving health insurance inclusion and impact at scale in Africa and providing solutions to the cash flow problems faced by healthcare providers on the continent
A partnership based on collaboration and trust between policy holders, insurance carriers and insurtechs have never been more important
The pandemic has shown local insurers that the role of insurtechs is not to take away business but to help them stay close to clients by facilitating access to new distribution channels
Incumbents are under pressure to grow their partnerships with insurtechs to scale at an acceptable loss ratio in order to recover their investment in a shorter timeframe than previously envisaged
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
Bunkering of fuels remains a complex issue, and poor fuels and poor handling of fuels constitute a significant risk for vessels and their insurers
Insurers’ ability to respond to maritime pollution incidents efficiently has never been more important in terms of reducing fines and legal fees by keeping claims out of the court system
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