Property
Australian bushfire insurance losses surpass £500m
Insured losses resulting from bushfires ravaging the Australian states of New South Wales, Victoria, Queensland and South Australia are estimated to have reached A$995m (£524m), according to the Insurance Council of Australia.
Australian insurers face bushfire season losses of £228m
Insurance losses resulting from months of deadly bushfires in Australia are estimated to be A$431m (£228m), according to the Insurance Council of Australia.
Enough capital in 'asymmetrical' reinsurance market: Guy Carpenter
There was adequate capacity to meet rising demand in the reinsurance sector during the 1 January 2020 renewal period, according to Guy Carpenter, however the results for buyers were mixed depending on a range of factors.
UK motor reinsurance rates rise by up to 35%, says Willis Re
UK motor liability reinsurance rates for some accounts rose by up to 35% in the annual January renewal season, according to Willis Re.
Analysis: Revisiting 'Flood Re Plus' for businesses
The idea of a Flood Re Plus scheme has been mooted by Airmic as a solution for those businesses that struggled to obtain flood cover
Ardonagh explains carrier cull and alternative capital plans in APS roll out
Ardonagh has cut its carrier relationships from 940 to 700 in the past six months with an eventual target of below 200, Paul Dilley, CEO of Geo Underwriting told Post.
MS Amlin puts four lines into run-off
MS Amlin will stop writing corporate property, real estate, casualty and package binders through its UK property and casualty business on 31 January 2020, the insurer has confirmed.
Blog: The changing face of the SME market
The SME market is changing, with more IT consultants, gig workers and freelance project managers emerging alongside traditional businesses. To support both the old and new Helen Bryant, director of SME markets at Allianz Insurance, argues the insurance…
Victor to write follow-on business through 'virtual' Lloyd's syndicate
Victor Insurance will operate at Lloyd’s as a “virtual syndicate” writing follow-on business as it looks to provide its capital partners opportunities to participate in risks around the world.
Global P&C outlook stable for 2020 amid continued economic growth: Moody's
The outlook for the global property and casualty insurance sector is stable based on economic growth, good insurance capitalisation and positive P&C pricing trends, Moody's has said, as it flagged continuing catastrophe exposure.
Allianz's Graham Gibson on embracing sustainability
As awareness of the damage we’re doing to our planet grows, sustainability is firmly on the corporate agenda, writes Graham Gibson, chief claims officer at Allianz Insurance. Finding ways to reduce our environmental footprint and safeguard the future for…
Claims MGA launches with former Axa boss Mike Keating
Ex-Axa and One Commercial leader Mike Keating is heading up managing general agent Qlaims Insurance as it launches with a claims advocacy service for commercial insurance brokers.
Scrap target times and frivolous bureaucracy to help vulnerable customers, suggests DLG claims head
Insurers need to ditch standard practices like target times in contact centres and avoid unnecessary bureaucracy if they are to meet the needs of vulnerable customers, according to Direct Line Group managing director of claims Jessie Burrows.
Blog: Indemnities in real estate - where do the opportunities lie for brokers?
For many years, indemnities have aided real estate development projects and transactions writes Michael Grimwood, business development manager at CLS Risk Solutions. It has traditionally been placed within the London market due to the complex nature of…
Blog: Flood-damaged cars - are insurers missing a trick?
Earlier this year parts of the UK were under water and serious flood warnings are becoming more commonplace, writes Jane Pocock, managing director, Copart UK.
UK composite insurance pricing surges 12% in Q3, says Marsh
Insurance pricing in the third quarter of 2019 surged by 11.8% year on year in the UK driven by increases in property as well as financial and professional liability lines, according to research by Marsh.
Axa's Jon Walker on why it takes three to make the market work
In a hardening market, competition is tough to place property and casualty risks. Now more than ever, brokers need to work closely with insurers and customers on claims prevention and risk management, writes Jon Walker, executive MD of Commercial…
Vibe syndicate to enter run off
Vibe will place Syndicate 5768 into run off at the end of the year.
Fire Protection Association calls for a quick ban on combustible cladding in all high risk residencies
The government must work quickly to make changes to building regulations and ban combustible cladding in all high risk residencies, the Fire Protection Association has urged.
Munich Re, Allianz and Zurich discussed the management of unstructured data in claims during Post webinar
Insurance companies are dealing with increasing volumes of digital media associated with claims initiation and claims investigation processes.
Government to introduce improved building safety standards
Insurers have welcomed the government’s commitment to improving building safety standards.
London company market premiums written in Europe on the rise
Gross premiums written in London by the company market increased 6.7% in 2018, reaching £19.56bn, according to the International Underwriting Association.
2019 Insurance Fraud Awards: Full list of winners
Zurich was the big winner at the 2019 Post Insurance Fraud Awards picking up three awards, and a highly commended including top prize in the Investigation of the Year category.
European insurers paid out €2.9bn every day in 2018
European insurers paid out €1069bn (£953bn) in claims and benefits to insureds in 2018, according to figures gathered by Insurance Europe.