Natural catastrophes (Nat Cats)
Nearly 80% of Vietnamese SMEs lack disaster preparation
Despite their exposure, small to medium sized businesses in Vietnam are seriously under-prepared for the possibility of a natural disaster, a study by the Asia Foundation has found.
Ace on a 'hunt' to buy Japanese firms
Ace Group has revealed its interest in Japanese acquisition targets in a conference call with analysts
JLT expects to make financial progress in 2012
Broker JLT told shareholders today that the company remains well placed to make financial progress in 2012, despite the uncertain economic outlook.
Natural disaster: Filling the $254bn insurance gap
The problem of underinsurance has been seen with a number of natural catastrophes recently. Lucia Bevere explains why relying on governments as a last resort is a risky strategy, and what insurers can do to tackle this area.
Firms still failing to focus on supply chain resiliency
Despite a number of wake-up calls from last year's catastrophe events, many organisations still lack complete visibility into their supply chains and remain vulnerable to the next disaster, according to a white paper published today by Marsh.
AIR targets supply chain risk
AIR Worldwide has expanded its suite of catastrophe risk engineering solutions to quantify and mitigate the risk associated with the impact of catastrophes on supply chain networks.
GWP of global non-life insurance to reach $2,500bn by 2017
The global non-life insurance industry saw moderate growth during 2006-2011 and the growth momentum is expected to continue, reaching an estimated $2,500bn in 2017 with a CAGR of 4.2% over the next five years, according to Lucintel.
Insurers must develop policies responsive to evolving risk landscape
A paper published by Marsh today urges insurers to re-examine risk management strategies and introduce procedures that strengthen operational and financial resilience.
TT Club still in surplus despite 2011 cats
Freight transport and logistics insurer the TT Club has said it kept its combined ratio below 100% in 2011 despite a record year for catastrophe claims.
Marsh says 2011 cats demonstrated need for more cover and better policy wordings
Broker Marsh has said that the scale of catastrophes in 2011 exceeded previous loss-modelling predictions and has challenged established thinking on the nature of risk.
Reinsurer capital remains strong despite near record catastrophe losses
Global reinsurer capital fell 3% during 2011 to $455bn (€345.5bn), according to an Aon Benfield Analytics study examining the impact of catastrophe losses on reinsurers' capital and earnings positions.
Indonesia quake could cause premium hikes
Aftershocks from yesterday's 8.6 magnitude earthquake in Indonesia may lead to cover restrictions and premium and deductible increases, according to industry sources.
Bonuses take a bash but salaries for the top industry jobs continue to rise
Total salaries for insurance chief executives increased across the board, according to insurers’ annual reports for the year ending 2011, despite a drop in total remuneration.
Reinsurance sector "strong" despite 3% drop in capital
Global reinsurer capital was down by 3% to $455bn (£286bn) last year, according to the Aon Benfield Aggregate analytics report, but the sector has been described as remaining strong.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.
March cat claims topped $1.1bn in the US
Reinsurance broker Aon Benfield has reported that US storms in March will cost insurers more than $1.1bn, while catastrophes hit Mexico and Australia as well.
Asian aviation: risk or opportunity?
The Asian aviation market is set to grow rapidly in the next 20 years, bringing many opportunities for insurers. But Edward Murray asks whether underwriters are taking all the future risks into consideration.
Talks turn to Solvency II and IPO benefits as Project Noah claims wide support
The bosses behind the Project Noah flood solution believe proposals to establish a UK risk pool with £14bn of reinsurance capital could provide a crucial solvency boost for insurers with IPO ambitions.
Nat cats caused economic losses of $380bn in 2011
Natural catastrophes resulted in 27,000 deaths and $380bn in economic losses during 2011, according to data compiled by Munich Re and analysed by the Worldwatch Institute.
Paperwork delays payment of Thai flood claims
Japanese firms waiting for claims payment following the flooding in Thailand face delays owing to the volume of paperwork for insurance companies.
Perils updates database and adds floods
Zurich-based European catastrophe insurance data firm Perils has updated its Europe Industry Exposure Database of market-wide property sums insured for European windstorm.
Q&A: Frank Weinreich, Liberty Syndicates
Frank Weinreich, regional manager for reinsurance for Central and Eastern Europe at Liberty Syndicates, pictured, spoke to Stephanie Denton with a reinsurance point of view on trends in CEE, claims levels and the future of brokers in the region.
Energy: Overcapacity causing problems as market rates stagnate
It has been a tumultuous few years for the insurance industry, and not many sectors have been affected as much as energy.
Environment: The importance of environmental impairment liability cover
With environmental legislation becoming ever more onerous and liabilities ever more costly, businesses are beginning to wake up to the importance of having environmental impairment liability cover.