If a hurricane the strength of Andrew tracked through Miami today, losses would likely exceed $200bn ($155bn), almost twice what the insurance industry is prepared for, warns Karen Clark, co-founder of Karen Clark & Company.
Ascot Group has created a standalone managing general agent and appointed Michael Sillat as CEO, effective 1 December 2017.
Retirement villages are asking for group contents insurance but UK insurers are waiting for the market to mature.
As cyber and terror risks trigger new types of business interruption, insurers are becoming the go-to resource for expertise.
Following the Grenfell disaster earlier this year Hill Dickinson partner Jonathan Anslow believes there is likely to be an influx of claims arising from the design, specification and installation of cladding systems.
Axel Theis, Allianz SE board member, global insurance lines and anglo markets, explains why premiums are tipped to grow over the next decade.
How the blaze that killed at least 80 people promises to be one of the most complex claims in recent years
Dale Underwriting Partners has been granted in principle approval by the Lloyd’s Franchise Board to establish a special purpose arrangement.
Exclusive: Transport for London has paid £900,000 to settle seven personal injury claims from the Croydon train crash in December last year, with 69 claims outstanding.
Property and casualty insurer Lancashire reported an 18% rise in first-half pre-tax profit thanks to a benign loss period.
Colin Ganson has been appointed to the board of Questgates after taking part in the restructure and reorganisation of the firm’s property division.
Flood Re will increase the number of policies by 50% by next year, its CEO said.
Military personnel struggle to find motor and household insurance adapted to their circumstances. Should general insurers leave that market to specialists?
It is estimated that the Grenfell Tower fire could result in claims of up to £50m. However, the carrier responsible for insuring the building said that its expansion plans for the UK remain undimmed.
Legal & General has partnered with Home Serve to offer Leak Bot to its home insurance customers.
The Grenfell Tower blaze could result in property and liability claims of £50m, the Norwegian carrier responsible for insuring the building said.
Recent events such as the Wanna Cry ransomware attack and British Airways’ computer outage have helped to drive sales of cyber insurance, but there are concerns that a significant part of the risk is being overlooked
Chaucer has acquired Australian underwriter and Lloyd’s coverholder, SLE Worldwide Australia as part of its plan to expand.
The Ministry of Justice’s decision to set a new discount rate for personal injury compensation awards at minus 0.75% seems likely to create turbulence in the market. Following widespread criticism, the government is currently reviewing feedback from its…
Exclusive: The Association of British Insurers warned the government last month over the hazards of flammable cladding on high rise buildings like Grenfell Tower, according to documents seen by Post.
Exclusive: Insurers have issued advice to local council customers, after it emerged that the government will test the fire risk of cladding on 600 buildings.
A Norwegian insurer that took on the property and liability contract for the local authority responsible for Grenfell Tower could potentially see its UK expansion curbed as a result of huge claims.
The fire that engulfed Grenfell Tower last night, claiming several lives and leaving dozens injured, was predicted by residents four years ago.
To maintain its competitive position, the London insurance market needs to become a truly global hub, write Chris Beazley, CEO of the London Market Group, and Paul Clark, partner at the Boston Consulting Group