Europe
Insurers paid out $50bn for natural disasters in 2016
Insurers paid out $50bn (£41bn) in natural disaster claims during 2016, making it the costliest year for natural catastrophe losses since 2012.
FSCS pays out over £26m on Enterprise claims
The Financial Services Compensation Scheme has paid out over £26m in compensation on claims following the collapse of Enterprise Insurance.
Boris Johnson rounds on ‘insane’ Vnuk ruling
Boris Johnson has declared the EU Vnuk ruling as “insane”, even as the government launches a consultation on ways to incorporate the ruling into UK law.
Europe: How to spot online insurance opportunities
More than 400 online channels of insurers in Europe are currently doing business and this number is increasing. However, not all of these online channels are successful.
Kofax's Ong on innovations to enhance customers’ digital experience
From e-signatures to smart capture, Alson Ong shares innovations insurers can use to retain tech-savvy, omnichannel and increasingly demanding customers.
European insurers paid out €2.7bn a day last year
Europe’s insurers paid out a total of €975bn (£818bn) in claims and benefits over the course of last year, the equivalent of €2.7bn (£2.27bn) per day.
206,000 Enterprise policies transferred to new insurer
Motorway Direct and NCI Roadside Assistance have transferred 206,000 Enterprise policies to new insurers with effect from 14 December.
Russian insurance market expected to grow in 2017
As Standard & Poor's is revising its outlook on Russia upwards, local insurers are predicting the market will grow in 2017.
Building Block expands gadget cover into Irish market
Malta-based insurer Building Block has signed a distribution agreement with Frost Insurances to bring its gadget product to the Irish market.
Nine out of 10 Hanjin container claims handled by Cunningham Lindsey
Nine out of 10 container claims from the collapse of the Hanjin Shipping line are being handled by loss adjuster Cunningham Lindsey.
Helvetia adds two members to executive management
Adrian Kollegger and Achim Baumstark will join Helvetia Group as head of non-life Switzerland and chief technology officer, respectively.
Zurich acquires Australian travel group Cover-More for A$741m
Insurance giant Zurich is aiming to become a top three global travel insurance provider after an agreement to buy Sydney-headquartered group Cover-More for A$741m (£439m).
European insurers concerned with EU services card proposal
Members of the European insurance sector have expressed concern on plans to introduce an EU services card.
Concerts: Music to the ears of contingency insurers
The renaissance of live music events is fuelling opportunities for contingency insurers worldwide.
Perils provides first estimate for damage from October's Italy earthquakes
Catastrophe data firm is estimating Italy's property insurers will suffer €31m (£26m) of damage from October's Central Italy earthquakes.
Lloyd’s announces potential post-Brexit strategies
Lloyd's said setting up a single European Union subsidiary or a network of branches across several EU countries are two potential post-Brexit strategies if passporting rights cannot be maintained.
Time running out for Gable motor and EL policyholders to find alternative cover
Motor and employers' liability policies underwritten by Gable will expire in two weeks, the Financial Services Compensation Scheme has warned.
Irish Insurance trade bodies to merge in anticipation of post-Brexit rush
Two of Ireland’s insurance trade bodies are planning to merge as the country prepares for an influx of business from the UK post-Brexit.
Ford to test autonomous cars on European roads
Ford is to begin testing autonomous cars on European roads in 2017.
Axis buys aviation specialist Aviabel
Bermuda-headquartered specialty (re)insurer Axis has reached an agreement to buy Brussels and Amsterdam based (re)insurer Aviabel.
Irish regulator boosts staffing levels ahead of predicted post-Brexit insurer exodus
The Central Bank of Ireland, which acts as the country’s insurance regulator, has increased staff levels by over 25% ahead of an expected influx of UK insurers post-Brexit.
Perils revises August Italy earthquake property losses
Insurance catastrophe market data firm Perils has increased its estimate of property insurance losses for the 24 August Central Italy earthquake.
Europe: Data analytics could relieve whiplash pains
The whiplash reforms intended to reduce fraudulent claims in the UK may cap or scrap cash compensation for minor injuries. What effect will this have for claimants and insurers? A European comparison can provide greater insight.
Generali to sell off €1bn of assets by 2018
Italy's biggest insurer Generali is looking to leave unattractive markets in a bid to generate €1bn, the firm announced ahead of an investor day meeting this morning.