Cyber risk is a multifaceted peril that reaches into areas that insurance might miss. Intelligent Insurer investigates the gaps in cover that could prove costly if overlooked.
The launch of the Chartered Insurance Institute’s (CII) chartered title for managing general agents (MGAs) highlights an important step for firms keen to outwardly display their ethical commitments. Sector leaders say it could be a key development in attracting new talent into the industry.
The life and health reinsurance market has ‘more barriers to entry than P&C’ with just four players dominating 50% of business.
The ongoing spread of Covid-19 was a prominent theme at Munich Re’s balance sheet update in terms of the potential for event interruption and the impact on the life and health sector.
Lloyd’s has announced targets for all syndicates to write 80 percent of their risk using a recognised electronic placement system in Q1 2020. The move reveals a gradual push for digitisation as well as a deeper transformation in the mind set of players in the Lloyd’s and London markets.
Lloyd’s much talked about modernisation programme has moved into phase one of execution. Intelligent Insurer finds out more about the priorities and market involvement for 2020 from chief executive officer John Neal and chief operating officer Jennifer Rigby.
Despite high levels of insurance penetration, recent storms in the UK and Europe have emphasised the region’s growing protection gap. While the storms have not been as severe as in the past, the frequency is increasing, according to risk modellers.
Insurers need to hold and manage overwhelming quantities of data to accurately assess their risk. But one insurtech expert warns that a large amount of this valuable data goes to waste as it is left languishing in non-standard formats.
The end of the long soft market will be music to the ears of many but one industry veteran sounds a note of caution for MGAs. Intelligent Insurer looks at what changing market conditions mean for these specialists.
Natural catastrophe, sustainability and the Covid-19 coronavirus were high on the agenda for Swiss Re as its leaders pledged to reach net-zero emissions by 2030.