Search | The Insurer TV

Viewpoint

COVID-19

Pool Re shows Covid-19 fall-out can be managed in partnership

While the economy remains in a state of flux over the coronavirus, Pool Re CEO Julian Enoizi outlines the ways governments could emulate the HM Treasury’s unlimited support of the UK’s terrorism pool to create insurance markets for risks that are currently commercially unviable…

Tue 31 Mar 2020

Analysis

Lloyd’s employment costs jump again in 2019

Employment costs relating to Corporation of Lloyd’s staff – including CEO John Neal – reached £173mn in 2019, a jump of nearly 6 percent from the previous year as wages also continued to climb despite efforts to reduce overhead costs at One Lime Street.

Tue 31 Mar 2020

News

Beale took home £405K from Lloyd’s in 2019 despite leaving previous year

The former chief executive of Lloyd’s Inga Beale was paid £405,000 in 2019 by the Corporation despite walking away from the top role in October 2018.

Tue 31 Mar 2020

News

COVID-19

Insurers rush to meet AM Best Covid-19 stress test deadline

AM Best-rated carriers have until Wednesday (1 April) to respond to the ratings agency’s initial questionnaire as it prepares to stress test balance sheets for Covid-19 impacts in the middle of the ongoing crisis.

Tue 31 Mar 2020

News

COVID-19

Healthcare capacity plentiful despite retrenchment on Covid-19 fears

Insurance capacity for the healthcare market remains in plentiful supply even though the emergence of the coronavirus has meant some carriers are not quoting any new business, according to AmWINS.

Mon 30 Mar 2020

Value stocks in the P&C sector emerge from equity markets carnage

Analysis

Commercial insurance

Value stocks in the P&C sector emerge from equity markets carnage

Equity analysts suggest US-listed insurance stocks could already be near trough valuations and the recovery will be quicker than during the financial crisis, with defensive stocks such as brokers among the companies tipped as presenting the best opportunities.

Mon 30 Mar 2020

Texas wig store wants Hartford to pay Covid-19 losses

News

Business interruption

Texas wig store wants Hartford to pay Covid-19 losses

In the first coronavirus business interruption lawsuit filed in Texas, a Houston area wig store has sued a subsidiary of The Hartford after its claim was denied.

Mon 30 Mar 2020

News

COVID-19

US buyers look at greater self insurance as Covid-19 hits cash flow

US insurance buyers are reacting to the Covid-19 crisis by looking at taking higher retentions and increased coinsurance as well as seeking premium clawbacks in response to the crippling impact the nationwide shutdown is having on businesses and their budgets.

Mon 30 Mar 2020

Insurers to pay $207mn of Signet sexual harassment settlement

News

D&O

Insurers to pay $207mn of Signet sexual harassment settlement

The insurers for Signet Jewelers will pay the majority of a $240mn shareholder settlement of allegations the diamond jewellery giant concealed sexual harassment allegations against senior executives as well as losses in its customer financing credit portfolio.

Mon 30 Mar 2020

Sompo GRS builds life sciences with Chubb’s Carroll

News

People Moves

Sompo GRS builds life sciences with Chubb’s Carroll

Sompo International has appointed Michael Carroll as senior vice president and deputy head of life sciences within the Bermudian’s Global Risk Solutions (GRS) unit.

Mon 30 Mar 2020

Cat bond pricing to continue hardening as traditional supply tightens

News

Rates

Cat bond pricing to continue hardening as traditional supply tightens

Primary cat bond issuance spreads are set to continue widening through 2020 as volatility endures in financial markets and traditional reinsurance and retro capital tightens, according to ILS fund manager Twelve Capital.

Mon 30 Mar 2020

Diversifying cat bond market outperforms despite recent sell-off: Twelve Capital

Analysis

Property catastrophe

Diversifying cat bond market outperforms despite recent sell-off: Twelve Capital

The recent sell-off by some cat bond investors in the secondary market does not reflect the fundamentals of the asset class, which has positively outperformed while demonstrating a low correlation to broader financial markets, according to Twelve Capital.

Mon 30 Mar 2020

New York latest state to introduce bill to force Covid-19 BI payment

News

Business interruption

New York latest state to introduce bill to force Covid-19 BI payment

New York has joined the growing list of states introducing legislation that would require business interruption (BI) insurers to provide coverage for economic losses from the coronavirus regardless of any exclusions.

Mon 30 Mar 2020

Danish regulator orders Gefion to stop writing business

News

Legal/ Regulatory

Danish regulator orders Gefion to stop writing business

Denmark’s financial watchdog has ordered unrated Gefion Insurance to stop writing new business after ruling that its recovery plan was not sufficient to protect customers.

Mon 30 Mar 2020

Airline premium pool to more than halve as Covid-19 grounds fleets

News

Aviation

Airline premium pool to more than halve as Covid-19 grounds fleets

Carriers are expecting to write down their aviation portfolios by 50 - 60 percent of their annual premium income this year as the spread of Covid-19 grounds airline fleets globally, The Insurer understands.

Mon 30 Mar 2020

News

ABI calls on government for pandemic insurance subsidy

The Association of British Insurers (ABI) has called on the government to step in as the ‘insurer of last resort’ and work with the insurance sector to handle the potential wave of business interruption claims from businesses affected by the coronavirus outbreak.

Mon 30 Mar 2020