Brokers are crucial for cyber insurance growth
Insurance brokers play a vital role in addressing adequate coverage and several other factors constraining growth in the cyber insurance market, suggests a new report by CyberCube.
Aviva declares first quarter financial results
It has been a strong start to 2020 for insurance giant Aviva – albeit with more than a cautionary word or two about what may be around the corner amid the COVID-19 pandemic.
Generali digitizes art insurance
ARTE Generali, Generali Group’s business unit that provides art insurance to collectors, has unveiled a new app, which offers remote evaluation of artworks.
Hard road ahead for global reinsurers
As the reinsurance sector continues to take a hit from the COVID-19 crisis and other factors, S&P Global’s latest report has revised its sector outlook from stable to negative.
The rise in approach to cyber insurance
The president of the European Central Bank (ECB), Christine Lagarde, warned earlier this year that a coordinated cyberattack on a major financial institution could cause a “liquidity crisis”. With that in mind, it’s no surprise that financial institutions have been the earliest and most willing adopters of cyber insurance.
Generali & Descartes partner on parametric insurance
Generali Global Corporate & Commercial and Descartes Underwriting have announced a strategic partnership to offer parametric insurance products.
Prudential’s Asian sales fall due to COVID-19 pandemic
Prudential plc has revealed that its first quarter sales in Asia decreased by 24% to US$986 million amid the COVID-19 pandemic.
UK create reinsurance scheme for trade credit insurance
The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit insurance during the COVID-19 crisis.
Pandemic shows need to update insurance products
General insurers need to reinvent their products in order to increase the sector's economic relevance amid a new risk landscape. For instance, while fire traditionally has been the biggest risk to property, the COVID-19 pandemic has shown that non-physical risks present an immediate threat to properties as well.
The ‘work from home’ and cyber security
With COVID-19 pandemic sweeping virtually every nation across the globe, most organisations are adjusting to employees working from home. However, the majority of the employees use their own internet connections which increases their vulnerability to cyber attacks.
Tokio Marine to employ AI analysis for auto damage
Tokio Marine will harness artificial intelligence (AI) to assess and process auto damage claims across its insurance operations in Japan, in a move that is believed to accelerate claims processing for the company.
China insurers be allowed to banks’ debt to equity offerings
The CBIRC, in a policy document issued this week, outlines a set of new rules aimed at bolstering a programme designed to reduce leverage in the economy. Insurance funds, pension funds and qualified retail investors will be allowed to invest in banks' investment plans that have debt-to-equity swaps as underlying assets.
Peak Re completes lutece acquisition & rebranding
Peak Reinsurance Company Ltd (Peak Re) has completed the acquisition of Lutece Holdings Ltd and subsidiary Lutece Investment Management Ltd. The two acquired entities will be rebranded as Peak Capital Holdings Ltd and Peak Capital Ltd, respectively.
Singapore insurers expand support for COVID-19 patients
The Life Insurance Association, Singapore (LIA Singapore) and General Insurance Association of Singapore (GIA Singapore) have expanded coverage for COVID-19 patients, as more Singaporeans continue to recover from the disease.
Zoom video login details have been hacked
Hackers put more than half a million login details for the teleconferencing app Zoom on the dark web, sale at 1 pence (1.25 cents) each, the Sunday Times newspaper reported.