- COVID-19 pandemic fueling social inequality and political unrest: Political Risk Map 2021
- GFIA responds to Canadian regulator OSFI on draft revised guideline on large P&C exposures and investment
- AXA successful placement of first subordinated green bonds
- Ardonagh and Amynta Group announce joint venture to acquire AccuRisk Solutions
- MS Amlin acquires International Transportation Marine Office
- Julia Graham appointed CEO of Airmic
- Majesco adds new capabilities to Distribution Management Platform expired
- AXA XL appoints Khera as Head of Marine, UK & Lloyd’s market expired
- Newslink Global Insurance Trends-Editor's Weekly Overview expired
- More of the same for 1st April reinsurance renewals: Willis Re 1st View expired
- Insurance Europe publishes response to EIOPA on its pilot dashboard for insurance protection gaps for natural catastrophes expired
- Zurich forges ahead with climate goals to tackle growing risk to society expired
21st February 2021
Insurance Newslink Global Trends-Weekly Editor's Overview
This week, Lloyd’s, in partnership with cyber analytics specialist CyberCube and reinsurance broker Guy Carpenter, launched a new report which examines how ‘Internet of Things’ devices are posing an increasingly high risk of cyber-attack to industrial and manufacturing businesses. A study of 1,247 workplaces by VPNOverview.com, cybersecurity experts, found that two thirds of businesses(66%) leave themselves at risk of cyberattacks due to their lack of having(or enforcing) password rotation policies, whilst Sontiq released its digital-oriented Intelligent Identity Security(IIS) Platform. GlobalData projected growth in the Australian and Indonesian insurance markets. A ClimateWise Principles Review indicated significant improvement in climate-related disclosure of insurers and highlighted the sector’s vital role in shaping resilience to climate change.
Willis Towers Watson responded to the HM Treasury Call for Evidence in the Solvency II Review. Insurance Europe published its response to a consultation by the European Commission(ECC) on a digital levy, and replied to the International Association of Insurance Supervisors(IAIS) on its proposal for an insurance liquidity ratio(ILR).Insurance Europe also published a new paper which outlined its positions on liability and artificial intelligence(AI).
Willis Towers Watson launched a "Future of Digital Health" white paper and Forrester released two new insurance industry reports on digitising progress, and InsurTech funding. Juniper Research estimated that the total number of vehicles with intelligent cockpits will reach 287 million by 2025; rising from 122 million in 2021. Duck Creek Technologies won the XCelent Technology Award for EMEA Property Casualty Policy Administration Systems, Vienna Insurance Group's(VIG) digital start-up, Beesafe, achieved a rapid four-month Guidewire deployment, and SSP announced that regulatory approval for its acquisition by The Volaris Group had been granted by the Financial Conduct Authority(FCA).
Compre announced the launch of its Lloyd’s legacy syndicate 1994 and its first Lloyd’s transaction–the reinsurance to close of Apollo syndicate 1969’s 2017 and prior years of account. Companies reporting financials included Aegon, AIG, Allianz, Unipol; and Brit, RenaissanceRe, and Swiss Re. There were senior appointments at HDI.
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Full articles on the topics in the Editor's Weekly Overview above are included in those added this week to the unique Insurance Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
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