Liability

Liability

Premiums are falling foul of poor risk analysis

Research has found that the majority of risk and underwriting professionals believe premiums for commercial clients are likely to be wrong due to the way risk analysis reports are being compiled.

Liability, North America

Beazley warns hospital to avoid loading issues

Lloyd’s underwriting group Beazley has urged hospitals and hospital groups to demand greater clarity from their insurers on the loading applied to premiums to account for claims inflation.

Brokers, Claims, Europe, Liability

Treatment for global obesity epidemic demands attention

Professional services firm Towers Watson has said Europe needs to learn the lessons from the United States if they are to tackle the rising tide of obesity.

Liability, North America, Offshore, Risk Management

Systemic risk must be addressed says Liberty President

The insurance industry must meet the growing challenge of the systemic risk for the benefit of both the underwriters and their clients delegates were told on the opening day of the Seminar.

Europe, Liability, Marine, Monte Carlo, Risk Management, Solvency II

Liability issues will tax reinsurers

Ratings agency Standard & Poor’s says the threat of a huge leap in the liability for pollution spills is the biggest threat to the appetite for reinsurers to offer capacity to the marine and energy market.

Liability, Losses, North America, Offshore, Regulation

Industry will need to drive OPA liability coverage

Whatever the level of third party liability coverage that U.S. legislators decide on in the amendment of the Oil Pollution Act the insurance industry will be asked to pick up the tab.

Asia Pacific, Liability, Risk Management, Terrorism

Underwriting terrorism on a national scale

The issue of terrorism has been forced back into the news agenda with the deaths of three of the leaders of the of Jihadist terror organisation al-Qaeda including leader Osama bin laden. Hafidz Baharom examines the issues facing the region’s reinsurance market over the threat of terrorism and the rising exposure levels.

Asia Pacific, Liability, Retakaful

Retakaful leakage has to be ended in non life warns CE

The CEO of Munich Re Retakaful used the World Takaful Conference: Family Takaful Summit to issue a call for the market to address the disparity in growth between non life takaful and the re-takaful to support the expected growth in the next five years.

Claims, Liability, Losses, Marine, North America

Claims challenge continues for insurers and insureds alike

The rising costs of claims continue to blight the market and in the Gulf of Mexico underwriters are still seeking a way to provide affordable capacity whilst managing exposure.

Brokers, Liability, London, Losses, Risk Management

London market rises as UK Insurance premiums fall in 2008

The London insurance market saw its premium levels increase in 2008 while the rest of the UK insurance market saw steep premium falls according to figures released this week.

Liability, Lloyd's, London, Terrorism

Insurers warned on synthetic DNA science risk

Lloyd’s has warned that the industry need to be invited to play a significant role in the global debate over the use of synthetic biology.

Liability, Market Reform, North America, Offshore

US tax plan dismissed by Bermuda reinsurance boss

The US is still set on a collision course with the Bermudan market over proposals to tax reinsurance premiums ceded to overseas underwriters.

Liability, London, Ratings, Risk Management

Risk managers still seek security blanket

A study by UK risk management association AIRMIC has found insurer security is still the biggest concern for its membership when it comes to choosing a risk carrier.

Liability, London, Market Reform

IUA chief indentifies London’s major challenges

The Chief Executive of the International Underwriting Association has warned the two biggest challenges to the London market in 2010 cannot be treated in isolation.

Europe, Liability, Results

Irish eyes are smiling as DIMA posts record results

The Irish international re/insurance association DIMA, has reported a record year of premium growth for its membership as Dublin continues to attract new capacity and companies.

In recent weeks broker Willis has said it will redomicile to Ireland from Bermuda and the annually-produced DIMA membership statistics show that gross written premiums for 2008 reached €26.2bn, with net premiums increasing to €21.7bn.

Liability, Lloyd's, MENA, Political Risk, Risk Management, Terrorism

Current political risks demand new type of coverage

The political risk market is facing a need to re-evaluate its products for the coverage of “pure political risk” to meet client demand for greater efficiency and transparency.

Claims, Liability, London, Losses

Working party warns of spiraling asbestos claims costs

Underwriters have been told they face a bill of up to £11 billion in compensation arising from asbestos-related claims in the UK alone over the next 40 years, although there are fears that the figure will continue to rise.

Claims, Liability, North America, Rates, Results

Space market in profit as launches buck recession

Barring a major end of year disaster the space insurance market looks to have delivered a payload of profit for the year according to a leading broker.

Facultative, Liability, Lloyd's, London

Canopius recruits engineering team

The largest privately-owned insurance operation in the Lloyd’s market Canopius Managing Agents Limited (Canopius), has announced it is to broaden its entry into ther consttuction and engineering sectors recruiting a leading market experts to spearhead the move.

Brokers, Claims, Cyber Risk, Liability, London, Losses

Acts of Man replace Acts of God as major business risk warns insurer

From CEOs to famous footballers the actions and words of a business celebrity is having a profound effect on its success.

Claims, Liability, Losses, MENA, Terrorism

Terror fears and the Arab Spring have clients rushing for cover

With the deaths of three leading members of the jihadist terror organisation al Qaeda killed within the space of six weeks and the ongoing civil uprising across the Middle East and North Africa, underwriters are facing renewed demand for coverages at a time when the risk environment is ever changing.

Liability, Lloyd's, MENA, Political Risk, Terrorism

The Arab Spring and Why Nobody Saw It Coming

With the Arab spring revolution taking place in the Middle East, elections soon to take part in South East Asia and the repercussions from the death of Osama Bin Laden finally coming to a head, Asian correspondent Hafidz Baharom looks at the current state of the political risk market for the Middle East and North Africa (MENA).

Captives, Europe, Facultative, Liability, Run Off, Treaty

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