News
No second chance for failed cases - Barry Young (Deceased) v Western
(Court of Appeal - 18 July 2003) The claimant was the dependent of the deceased, who died in 1999 ...
Trenwick set to file for bankruptcy over debt.
Bermudian insurer Trenwick intends to file for bankruptcy as a result of failing to meet a repayment...
Highest stolen vehicle recoveries in July says Tracker.
Vehicle security specialist Tracker has reported that July saw the highest ever monthly total of sto...
Brave new world.
The growing complexity of our daily lives along with social and technological advances are necessitating changes in the way insurance is packaged and sold and risks are calculated. Michael Kelly argues that insurers embracing these changes will have a…
ABI keen to pursue investment sector synergies.
The Association of British Insurers, which this time last year abandoned plans to merge with the Bri...
Gear up for risk-based compliance.
The Financial Services Authority's calls for the industry to comply with risk-based regulation by September next year has forced operational risk to the top of everyone's agendas. While the requirements may look daunting, Sarah Saltzman says it is not…
Appointment at Allianz Cornhill Legal Protection.
Allianz Cornhill Legal Protection has taken on Peter Dobie as underwriting manager. He has more than...
Courts to decide CFA rates - Cheshire County Council v Grace Lea.
(Chester County Court - 9 May 2003) The decision of the deputy district judge to allow the claiman...
Act now to stop cracks appearing.
The current warm weather we are experiencing could bring bad news for insurers regarding subsidence. However, Paul Stanley says with minimal expenditure, the industry could greatly reduce the financial impact of an 'event' year - but action must be taken…
Unisys launches new mainframe computer system.
Unisys has launched a new mainframe computer system. The ClearPath Plus Libra 185 has been designed ...
Florida agrees caps on medical damage claims.
Florida governor Jeb Bush and other state legislative leaders have announced an agreement on key ele...
Scor's premium drops in first half
Paris-based reinsurer Scor's gross premium income fell 18% year-on-year in the first half of 2003, fo...
2002's Top 25 Reinsurers Ranked by non-life net written premiums
(A) Net written premiums (NWP) 2002 ($m) (B) Change in NWP 2001-02 (%)1 (C) 2002 retrocession...
Virtual London.
An outsourcing revolution that will create a virtual London market is under way, but hardly anyone has noticed, says Jeff Ward.
What transparency?
Were I a buyer of reinsurance, I would be extremely wary of doing business with some of the world's ...
2002's Top 100 Reinsurance Companies - Ranked by non-life net written
(A) Net written premiums (NWP) 2002 ($m) (B) Change in NWP 2001-02 (%)(1) (C) Gross written prem...
Back to basics
Faced with the crippling losses of 2001 and dwindling investment returns, reinsurers in 2002 were forced to refocus on their underwriting. Janina Clark looks back over the year and analyses Reinsurance's exclusive reinsurer rankings.
Conflicting calculations
Many European (re)insurers are less than happy with proposed new accounting standards. As John Sanders discovers, they fear the proposals will result in greater volatility and a missed opportunity to create a global reporting regime.
Cars, quakes and critical illness
Losses on automobile cover have prompted some departures from Canada's otherwise largely stable property and casualty market and created an opening for reinsurers. On the life side, reinsurers are now reaping the benefits of dynamic growth, as John…
A new tool.
There is a new tool in the tool kit for restructuring (re)insurers in the UK; insurance business transfers. Richard White undoes the nuts and bolts.
Not for the faint of heart.
It takes a brave underwriter to operate in the directors' and officers' market in the US. Vincent Vitkowsky and Jeanne Kohler look at the issues of allocation and aggregation that can make a bad situation worse.
Ringing the changes
The franchise concept will mean a revolution at Lloyd's, as great perhaps as the introduction of corporate capital in the 1990s. Robert CB Miller assesses its chances of success.
A breath of fresh air.
CatiXL is a brand new company with an innovative approach to catastrophe indices. Adrian Leonard finds out exactly what CatiXL has to offer.
Tackling a burning issue.
Demand for terrorism insurance under the US Terrorism Risk Insurance Act (Tria) has been low, but the Act has encouraged reinsurers to dip a toe back into the market. Patricia Vowinkel warns, however, that if Tria were to disappear the reinsurance could…