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News

IFRS 17 risk adjustment and confidence level challenges remain

Andries Beukes says interpretation of the accounting standard varies by auditor

Fitch warns of deteriorating outlook for French P&C sector

Climate change is expected to cause more severe and frequent losses in 2023

Special supplement on Climate Strategy and Modelling - free download

InsuranceERM and FIS report on the journey to net-zero, scenario testing, TCFD reporting and climate modelling

Insurers in Switzerland face mandatory climate reporting

Mandatory climate reporting for insurers will begin in 2025

Medibank execs should face consequences of data breach, says Apra

Australian regulator warns financial firms to focus on operational resilience

AIG raids insurtech for Apac CRO

Lily Claydon previously held roles at FWD and Bolttech

Learn how best to manage people risk

Insurance Risk & Capital EMEA event on 1 December will cover people risk in depth

Marine insurers fired up over loss trends

Fires rather than sinking become main cause of marine losses, says Allianz

UK home and motor insurers set for large losses

EY expects the markets to make their largest annual loss in over a decade this year

IAG calls for greater climate mitigation investment after Australia's ominous report

Australia is set to face worsening extreme weather events

InsuranceERM wants your entries for the UK & Europe 2023 awards!

Deadline for submissions is 12 December - You have to be in it, to win it!

Eiopa consults on cyber risk component of insurance stress testing

Stakeholders should share their feedback by 28 February 2023

"Almost total lack of progress" at COP27, says Swiss Re Institute

It calls on governments, the private sector and consumers to further collaborate

Lloyd's strengthens IT login security

Measures come in after the market reported unusual activity on its networks in October

Operational risk management should include people resilience

One of the hot topics at the Insurance Risk & Capital Emea conference on 1 December

NAIC launches scathing attack on FIO's climate data call

Letter to Treasury lays bare conflicts in state and Federal climate insurance regulation

Gjensidige CFO: IFRS 17/9 to have little impact on insurance business

CFO says pensions will be impacted, but fundamentals will remain unchanged

Ways insurers can operate to a social purpose amid inflation crisis

Making a difference will be discussed at the Insurance Risk & Capital EMEA conference on 1 Dec

UK Solvency II reform sparks worries about extra regulatory requirements

WTW says concerns are about "pushing more power to the PRA to scrutinise"

IAIS publishes liquidity metrics for insurer monitoring exercise

Liquidity risk has been a growing concern for insurers as they face market crises

Surging ransomware risk "isn't going away any time soon "

Learning points for insurers from Aon cyber risk panel

ABI launches multi-year diversity, equity and inclusion blueprint

The association warned data collection on DEI is piecemeal

Rims calls for cyber insurance backstop

A cyber incident is the "top concern" for risk management professionals, according to Rims

Moody's warns of significant deterioration in life firms' equity

Increasing interest rates will lead to profound changes in insurers' financials, Moody's said

NN Group sees IFRS 17 discount rate methodologies aligning

But parameters will differ, says Harm van de Meerendonk

Insurance Risk & Capital Bermuda 2022 conference

Event will take place tomorrow at the Rosewood Bermuda

More Medibank customers' health data released on dark web

Hackers reportedly demanding A$10m from Australian health insurer

PIC sees pension risk transfer market of £30bn over next year

Rise in gilt yields making headline liabilities smaller

Insurance Risk Data announces 2023 Bermuda investment outsourcing report

Research contains over 120 pages of analysis, exhibits and data

PCAF reporting standard hit with greenwashing criticism

The accounting and reporting standard is criticised for creating fossil fuel underwriting loopholes

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Analysis

IFRS 17's second-order effects begin to crystalise

The insurance sector is beginning to look beyond the surface and understand what changes the IFRS 17 era will bring to business. Paul Walsh reports

Championing the UK Black Actuaries Network

The key people behind the launch of the UK Black Actuaries Network - Chika Aghadiuno and Mudi Ugono - tell Ronan McCaughey about the aims and aspirations for the initiative and why it is so crucial

Covid and Great Resignation 'popped the lid' on people risk

US insurance experts at the Insurance Risk & Capital Americas conference explained how Covid-19 has led insurers to up their game as people risk challenges begin to bite. Paul Walsh reports

War fuels clamour for political risk insurance

It seemed inconceivable that Europe would be in the midst of a major war in 2022. But the events in Ukraine have pushed political risk to the fore, leaving many to ponder how to insure the unthinkable. Sarfraz Thind reports

Six ways insurers can make DE&I real and relevant

US insurance experts at the Insurance Risk & Capital Americas conference explained how they are fostering diversity, equity and inclusion (DE&I) within the industry, and ways to build momentum. Ronan McCaughey writes

A risk manager's perspective on consumer duty

With regulators putting a tighter focus on insurers' duty towards their customers, Michael Tripp discusses the questions that risk managers should be asking of the business

The future of flood risk management

How can insurers better manage flood risk and improve the services they offer customers and clients? Experts offer their thoughts in this report on the InsuranceERM / ICEYE webinar

Dive In 2022: creating braver cultures that embrace differences

Axis Capital's chief people officer and Dive In festival spokesperson Noreen McMullan talks to Paul Walsh about the impact of this year's festival and the need for quotas to improve diversity, equity and inclusion (DEI)

Gilts crash: a boon out of a crisis for insurers

Another day, another UK financial market crash. But while it has gone wrong for British politics and pension funds, the current crisis may actually benefit insurers in the long run. Ronan McCaughey and Sarfraz Thind report

The path to sustainable cyber insurance

The cyber insurance market is growing rapidly, but demand exceeds current capacity and insurers may lose relevance unless they redefine the risk and improve their modelling. Joshua Geer reports

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