Content

News

Allianz faces litigation over travel cover in Australia

Corporate watchdog alleges mis-selling of some policies online

Eiopa extends term of executive director

Fausto Parente will serve for another five years

Blackstone sells stake in Rothesay Life for £2.1bn

Other investors in UK life insurer pick up 36% stake

COMMENT: AI will help insurers reach underserved markets

Leah Walters and Diane Stuto respond to plans by New York regulator Linda Lacewell to address innovation and diversity risks

Efrag consults on IFRS 17 annual cohorts for mutualised contracts

Europe's accounting advisors publish draft endorsement advice

Apra resumes capital penalty plans for income protection providers

Troubled life cover line has lost A$1.4bn since December

How CROs are dealing with Covid-19 operational risks

Highlights from InsuranceERM's Americas 2020 conference

Chaucer uses Phinsys for finance transformation

Insurer will use the full suite of Phinsys's products to replace legacy systems

FCA joins insurers in filing BI test case leapfrog appeals

A number of insurers have filed the precautionary applications

Guy Carpenter hires Aon's catastrophe management head

Paul Miller quits Aon after 25 years

American Financial Group exits Lloyd's with Neon sale

Buyer for an undisclosed sum is RiverStone

US insurers seeking to corral UK support over ICS with new financial alliance

APCIA says the British American Finance Alliance could align the US and UK positions

QBE joins UN Global Compact

The insurer pledges to support the initiative's 10 sustainability principles

FCA releases timetable for business interruption test case appeals

There will be a consequentials hearing in the UK High Court on Friday 2 October

Tokio Marine drops support for coal

Announcement follows Sompo's decision to limit its exposure to coal

LV= confirms takeover talks with several parties

Detailed negotiations are said to be happening with Royal London

Chesnara selects WTW software for IFRS 17 project

Implementation budget also increased

India names insurers "too big to fail"

GIC Re, LIC and New India Assurance face increased oversight from Irdai

Mitigating climate risk needs insurance regulators "to get tough"

Highlights from the InsuranceERM Americas 2020 virtual conference

US and UK finance groups propose "united vision" for regulation

British American Finance Alliance lobbies for involvement in future free trade agreement

Aon launches data translation tool to support open cat modelling

ImpactWorkbench will enable re/insurers to use Oasis-based models and platforms

Singapore regulator working with health insurers on affordability

Regulator's promise comes after Aviva Singapore faced criticism

Next Insurance receives $250m in fourth-stage seed financing

Insurtech backed by Alphabet has now raised $631m, and is valued at more than $2bn

RMS estimates up to $3.5bn insured cost from Sally

Hurricane Sally came with stronger winds than expected, weakened quickly but was slow-moving, says RMS

Insurers have much to do in attracting ethnic talent

Chartered Insurance Institute survey reveals the profession's progress on diversity

CMI proposes "no weight" on 2020 data for next mortality projections

It says coronavirus has caused an exceptional mortality experience this year

"Build resilience" urge Wilson and Richter in paper on Covid-19's lessons

Allianz's Tom Wilson and Ludwig Maximilian University's Andreas Richter collaborate on review of ERM implications of the pandemic

Munich Re issues €1.25bn green bond

Follows publication of green bond framework last week

Operational risk best practice for insurers

Expert insights from the InsuranceERM Americas 2020 conference

All employees are key stakeholders in risk analytics and reporting, says CRO

US experts share experiences of enterprise risk analytics and reporting capabilities

Analysis

Covid-19 claims fall short of forecasts... so far

Cintia Cheong investigates why claims related to the pandemic have failed to live up to forecasts in the early part of this year

Lockdowns and BLM put pressure on the diversity and inclusion agenda

The sixth annual Dive In festival, designed to promote inclusion and diversity in the insurance sector, will take place this week following some of the most dramatic societal developments in recent history. Paul Walsh reports on how the issue has been prioritised in these times

The FSB and effective resolution: why it should matter to you

Insurers can come up with many reasons to put resolution planning at the bottom of their list of priorities. Carlos Montalvo explains why they should not

Linda Lacewell: New York's no-nonsense reformer

Change... it's overdue. The head of the NYDFS, Linda Lacewell, believes there is a transformative energy in the air and it must not be wasted. She speaks to Sarfraz Thind

The cloud is a silver lining amid Covid-19

Covid-19 has put to bed any doubts about the use of cloud technology for risk and capital management. The pandemic will also drive more sophisticated risk modelling, as Ronan McCaughey discusses in his review of key trends in the risk software markets

IFRS 17's neglected questions: the risk adjustment and confidence levels

Andries Beukes discusses with Cintia Cheong the findings of an investigation into how insurers are planning to calculate their IFRS 17 risk adjustment and confidence level

The Future of Insurance: no future for guaranteed products?

Covid-19 has heightened the threat of a low-for-long interest rate environment and is adding to doubts around the future for life insurance products with guarantees, as Paul Walsh reports

Covid-19 and insurance: stirred, not shaken

Isaac Alfon and Shirley Beglinger share the findings of their survey of risk and finance executives on how they coped with the crisis - and how working environments and business practices will change after the pandemic

The Future of Insurance: innovation with a purpose

According to Zurich's head of innovation, Stuart Domingos, the future of insurance should not be driven by technology but by the need to empathise with customers. He talks to Sarfraz Thind

Pandemic protection: what a public/private solution might look like

Swiss Re's Ivo Menzinger has overseen many innovative public/private partnerships to insure risks at a regional and national level. Now he is focusing on pandemic protection programmes, he explains to David Walker