Risk Management – Page 85
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NewsLloyd’s of London secures £650m five-year cover for Central Fund
With the backing of eight reinsurers, the cover will act as a ’significant buffer’ against adverse solvency
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NewsCovid erodes macroeconomic resilience - Swiss Re
Insurance resilience is lowest for natural catastrophes, with the protection gap growing to a record $1.4 trillion
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IT InterviewMark Colonnese: An ‘underserved’ pet insurance market leaves insurers ‘plenty of room for growth’
Investing in the latest technology will be a ‘real game changer’ for both businesses and customers
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NewsBoE launches climate stress test for banks and insurers
It will provide central banks and supervisors globally with a common starting point for analysing climate risks under different scenarios
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NewsFlooding is ‘greatest natural disaster’ risk in UK – Flood Re and ABI
In a joint report, the ABI and Flood Re underline the importance of maintaining flood defences
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NewsInsurance sector could fork out up to $3bn for Tokyo Olympics cancellation
The International Olympic Committee is pushing ahead for the games to be conducted safely
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NewsLack of cover leaves SMEs exposed to cyber attacks – Aviva
Over three-quarters of businesses do not have any cyber insurance cover in place, despite escalating digitisation
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IT InterviewTara Parchment: HNW expertise and advice is ‘irreplaceable by technology’
Building relationships and client trust in products will enable the ‘very best of the high net worth insurers to shine’
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NewsAon using IoT to cover Covid-19 vaccine supply chain is ‘game changer’ says GlobalData
The insurer can establish trigger points, leading to faster claims settlements
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FeaturesLloyd’s boss John Neal has ‘big ambition’ to build the most advanced insurance marketplace
Neal says he is ’particularly encouraged by the human spirit of colleagues across the market during an exceptionally tough period’
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IT InterviewJohn Read: Hard market is brokers’ ‘saviour’ for preserving earnings
With the hard market ‘still here with a vengeance’, brokers face ‘additional difficulties’ in explaining the impact on premiums to clients
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News Analysis'Unified action' needed to address challenges in professional indemnity insurance
An expert panel at Biba’s annual conference last month debates the ongoing challenges in professional indemnity insurance and what changes should be made
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NewsQ&A: Davies Group relays broker and insurer incentives for outsourcing end-to-end claims
Davies Group’s head of claims solutions, UK and Ireland Kath Mainon, discusses end-to-end claims with Insurance Times and the benefits of outsourcing to fewer strategic partners
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NewsPerception that extortion cover fuels cyber crime is ‘misguided’ – CFC Underwriting
The firm’s cyber development leader believes ‘the last option we want is to remove extortion coverage’, but that applying sub-limits could be a viable route forward
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FeaturesBriefing: Brokers’ purse strings threatened by PI cover costs
The FCA’s test case has contributed to broker PI being ‘in a very, very difficult position’ says network MD, as Covid exclusions also cause costs to escalate
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NewsCPP Group UK inks three-year cyber contract with Partners&
The SME market is a key growth area for cyber, but existing products are ’unnecessarily complex and unsuitable’
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NewsGuidewire backs draft Online Safety Bill extension to include financial scams
Guidewire’s chief innovation officer says that cumulatively, financial scams risk the reputation of the industry
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NewsHowden launches ESG-focused insurer
The new business, which plans to begin underwriting from 1 January 2022, indicates ‘a step towards facilitating long-term industry change’ around resilience
