The Saudi Central Bank (SAMA) has introduced new amendments to the Unified Compulsory Motor Insurance Policy, allowing an option of repairing the vehicle instead of… Read More »Saudi launched the Unified Compulsory Motor Insurance Policy
There is extensive precedent for requiring companies providing critical infrastructure to get special insurance. Why not require crypto companies to back themselves
Fitch Ratings’ sector outlook for the German non-life insurance market is ‘deteriorating’ for 2023, reflecting Fitch’s expectation that inflationary pressure on property and liability claims
Insurance Europe has sent a letter and a position paper to the European Commission to explain why an outright EU-wide ban on inducements would limit consumer’s access
Phinsys, the leading finance automation software provider for the insurance sector, announced today that the specialty insurer Palomar Holdings is implementing
Parametric flood insurance company FloodFlash, the first insurance provider to pay catastrophic flood claims as fast as 4 hours, announced they have entered the U.S. insurance market
The insurance market in Poland ended 2022 with the largest reduction in the average MTPL premium in 5 years
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft recommendation on the application for approval
The International Association of Insurance Supervisors (IAIS) published its 2023-2024 Roadmap. The Roadmap outlines the IAIS’ work program for the next two years
Austrian financial group Vienna Insurance (VIG) informed that its Slovak subsidiary Kooperativa poistovna has purchased 100% of the shares in 365.life d. s. s.
To discourage irregular migration, Türkiye is expected to implement a new insurance requirement for anyone arriving in Türkiye with a permit
The Insurance Regulatory and Development Authority of India has said insurers will be allowed to classify their sovereign green bond purchases as infrastructure investments
Swiss Re announced today the appointment of Velina Peneva as Group Chief Investment Officer and member of the Group Executive Committee
Willis Towers Watson has announced the combination of its Asia and Australasia operations into one Asia Pacific region, effective 1 January 2023
Embedded insurance could make significant inroads into both personal lines and small commercial insurance business, exceeding $70 billion in premium by 2030
While reinsurers have managed to defend against a rising tide of natural catastrophe losses, more de-risking efforts, new opportunities and further re-pricing measures
Global catastrophes around the world drove estimated economic losses of USD 270 billion in 2022, of which roughly 44% or USD 120 billion were covered by re/insurance
Winter Storm Elliott likely delivered insured losses of $5.4 billion across 42 states after sweeping the bulk of the United States at the peak of the Holiday season
Rising rates have been largely favourable for US life insurer investment portfolios, driving higher investment income as reinvestment rates exceed book yields
The new EU strategy on adaptation to climate change highlights the fact that affordability and insurability of natural catastrophes insurance coverage
The largest event loss outside the US was the flooding in Eastern Australia in late February / early March, which CRESTA estimates has generated an industry loss of $4.7 billion
Healthcare costs are increasing for most Americans in 2023. Without a public healthcare system price rises in some states may put thousands onto worse coverage plans
Green Century Capital Management filed shareholder resolutions with three big U.S. insurance companies — Travelers, Chubb and The Hartford – asking shareholders
Increases in US P&C insurers’ underwriting expenses have been offset by commensurate increases in net premiums written, which has resulted in stable expense
Some of Japan’s largest non-life insurers continues providing marine war insurance coverage in a major policy U-turn, following negotiations with reinsurers
Some catastrophe loss-hit treaties in the U.S. witnessed rate increases of more than 100% at the 1/1 2023 reinsurance renewals, as Hurricane Ian
US health insurers should be able to withstand the effects of high inflation and rising interest rates, amid their expectations for a mild US recession in 2023
25% of Russian seaborne crude oil shipments since restrictions started on December 5 were insured by western insurance companies
The average cost of the most competitive motor insurance deals rose by 17.4% in the 2022 year, according to the latest motor insurance price index
As we enter 2023, record-high inflation and the consequent cost-of-living crisis will be the greatest challenge faced by the insurance industry according to industry experts
Boat renters and rental operators will face new insurance requirements in Florida from the start of 2023, and insurance businesses have leapt in with new products
Recent research by Squaremouth, a travel insurance marketplace, has revealed that 2023 will be the year for international travel to fully recover
According to UK Home Insurance Consumer Research Report by Research & Markets, the first thing that a consumer looks at when choosing home insurance is price
The India’s largest insurer LIC may take a call on composite licence clause after the passage of Insurance Laws (Amendment) Bill in Parliament
Insurer QBE Asia has announced that its P&I operations in Singapore will take on the name of British Marine, beginning Jan. 1
International insurance brokerage Howden has agreed to acquire Assimovie, a TV, film and advertising insurance broker based in Italy
Dubai International Financial Centre (DIFC) has granted an operating licence to Sukoon’s Syndicate 2880, making it the first syndicate-in-a-box
The global digital twin financial and insurance market services is expected to grow from $2.95 billion in 2021 to $3.57 billion in 2022 at a compound annual growth rate
The government in Ireland plans to relax rules around e-scooters – including making them exempt from needing to be insured – as part of a set of measures designed
Indian insurance companies’ stock prices have rallied in the month following Finance Ministry proposal to use a common licence for all insurance segments.
2023 year will be a challenging time for P&C and auto insurers. Property cat rates will need to rise by 50% on renewal in 2023 to offset rising claims costs
Total income in the US life and annuity insurance market rose 4.1% during the 2022, that was driven by a 7% increase in premiums and annuity considerations
BikeInsure, an insurtech company specializing in bicycle insurance for cyclists in the United States, is pleased to announce that it has hired Ira Becker as President
Net loss exposure assumed by Bermuda insurers for the year 2021 increased by 9.8% to $84 billion. With a gross loss impact of $30 billion and a net loss impact of almost $10.6 billion
Insurance Europe has published a report supporting the integration of further sustainability risks in Solvency II
A cargo insurance facility providing cover for shipments via Ukraine’s grain export corridor will continue 2023 year with no reinsurance rate increases
J.P. Morgan Asset Management and Lincoln Financial Group announced that they have strengthened their partnership to have J.P. Morgan’s world class investment capabilities
Allianz Global Corporate & Specialty (AGCS) has established a dedicated in-house organization for Environmental, Social & Governance (ESG) activities
Emirati holding ADQ wants to buy a controlling stake in Israeli insurance giant – Phoenix Holdings. The Israeli company controls most of Israel’s most significant pension funds
Typhoon Nanmadol has inflicted $912 mn in property losses on the Japanese insurance industry, according to PERILS’ second industry loss estimate
Member states’ representatives agreed a negotiating mandate (general approach) on the Insurance Recovery and Resolution Directive (IRRD)
Frantic, or what’s better known as Metallica, will have to recover its losses from the postponement of its 2020 South American concerts by other means and not through insurance
Foreign venture investors were present in nearly half of all European venture deals 2022 year, their highest level of participation to date
Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers, who insure the insurers, propose excluding the region from policies
The International Association of Insurance Supervisors (IAIS) issued two publications showcasing work on digital innovation, focusing on FinTech and the role of supervisory
Austrian insurance market in Q3 2022 undertakings observed an increase in premium volume by 4.7% to EUR 4.8 billion
As of 13 December2022, insurers will be able to make reinsurance payments under reinsurance contracts concluded with nonresidents
Automaker Ford has been busy in the insurance and insurtech space lately, striking up partnerships with insurtechs Wejo, CerebrumX and J.D. Power
Bupa (Asia), a health insurance specialist, and CoverGo, the leading global no-code insurtech SaaS platform for health, P&C, and life, are joining forces
Study has found a strong correlation between drivers who have passed on taking vaccinations on COVID-19 and higher vehicle collision risk levels
