The combined hull, cargo and port facility insured losses from last week’s warehouse explosions in Beirut should not exceed $250m (£191m), according to an initial analysis by Guy Carpenter.
The explosion in Beirut, Lebanon at around 6pm local time on Tuesday 4 August tragically killed at least 157 people and wounded another 5000, with more than a hundred still missing as rescue efforts continue.
The warehouse explosion in the port area of Beirut on Tuesday is unlikely to lead to insured losses on the same scale as those that followed a similar incident in China in 2015, industry figures have said.
A hard market is traditionally where specialist insurers and forward-thinking capacity providers thrive. As such Floodflash co-founder Ian Bartholomew is confident new resilient insurance businesses will emerge from the post-pandemic economic downturn
Hiscox swung into a loss for the first half of 2020 as it increased its Covid-19 claims hit estimate.
Future Focus 2030: The future of property podcast - how IoT sensors, automation and granular data will shape the next decade
It is the year 2030. The explosion of internet of things devices has really taken hold impacting both the personal and commercial property markets.
As part of a monthly series, Post looks into the future at how the insurance market might change, with each part focusing on a specific issue through a 2030 lens. In the latest instalment, Jonathan Swift looks at how in 10 years new technologies from…
Financial hardship caused by UK-wide lockdown is contributing to increase in fraud and arson, warn loss adjusters.
Insurers dived into the causation debate during today's proceedings, slamming the Financial Conduct Authority’s approach to the ‘but for’ test as the business interruption case continued in the High Court.
Munich Re was hit by €700m (£631.7m) of Covid-19 related reinsurance losses in the second quarter taking its year to date figure to €1.5bn, the reinsurer has revealed.
Brendan Devine has been appointed CEO of Atec Group, which trades under the brand names Ceta Insurance, Arkel Underwriting and Insure My.
The industry has found itself under the spotlight for all the wrong reasons during the Covid-19 pandemic. However, one area where it should be singing its praises is life sciences. Post investigates how brokers and insurers have supported the quest for…
Lloyd’s syndicates’ plans for 2021 include £11bn of fresh business, but some will be told that they must continue to focus on performance over growth as the market looks to “finish the job” it embarked on 2018 of turning around its profitability woes.
Direct Line Group has agreed to acquire personal lines insurtech firm Brolly in a conditional transaction expected to close during the third quarter of 2020.
Arch policyholders whose business interruption claims were confirmed to be covered by the insurer have been told that their payments could be “reduced to zero” depending on the outcome of the Financial Conduct Authority's test case.
Virtual Roundtable: Has Covid-19 helped speed up the digitalisation of insurance customer communications?’
Post gathered a group of experts together for an interactive digital roundtable at which we discussed how insurers and their partners can maximise satisfaction, despite policyholders being in lockdown; and build long-standing relationships that will…
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Tiger Risk has appointed Juan England as a partner with a mandate to help develop large, multi-regional clients in Europe and other international markets, the fourth recruit of the month for the rapidly expanding broker.
Perils has pegged insurance and reinsurance industry losses for Australian bushfires at A$1.86bn (£1.03bn)
Ecclesiastical delivered £58m in post-tax profit last year, more than treble the £15.2m achieved in 2018, according to a filing at Companies House.
In the 29th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss the prevention, detection and prosecution of insurance fraud at a time of pandemic.
Qlaims has teamed up with Mason Owen Financial Services and parametric insurance specialist Floodflash in the first use of its claims service for a project management rather than advocacy solution.
Briefing: EC3's 'Plantation Place' – Insurers back renaming as London’s Square Mile faces up to slavery links
When the Black Lives Matters movement blew up in the UK following the death of George Floyd in Minnesota I wondered how long it would take before the insurance sector came under the spotlight.
With Black Lives Matter supporters and far-right activists expected to take to the streets over the weekend and Brexit tensions threatening to resurface this year, loss adjusters say the potential for claims due to civil unrest will largely depend on how…