The Thought Center Digest highlights a selection of recent posts from the IIS Thought Center. The guiding principle of the selection is to focus on a broad array of interconnected topics with systemic socio-economic potential. The chosen materials will have particular import for the insurance/risk industry, or will demonstrate perspectives born in the industry that deserve wider dissemination and greater influence in the development of public risk awareness. The Digest is prepared weekly from IIS Member-generated materials and is published on Wednesdays.
Nanotechnology is less than four decades old and has already affected fields as diverse as consumer goods, weapons and therapeutic procedures. As it promises to revolutionize industries and accelerate convergence of sciences and disciplines, it’s also bringing about societal and geopolitical shifts.
Together, the insurance industry, government administrations and public institutions can form powerful collaborations to drive economic growth, financial stability, affordable healthcare and environmental security for the global population in developed and emerging economies alike. The Global Insurance Forum drew 500+ senior insurance executives, regulatory authorities and prominent academics from around the globe, focusing on ideas that demonstrate the potential extent and power of collaboration.
Institute and Faculty of Actuaries has issued the following news release: Unusual Risks specialises in insurance for people with pre-existing medical conditions and those wishing to preserve their bodies after death in the hope of being revived in the future. Read more
Institute and Faculty of Actuaries has issued the following news release: Unusual Risks special ... Read more
From January 1, 2017, the minimum amount of reinsurance cessions that Brazilian insurers must offer to local reinsurers will fall to 30%, from the current level of 40%, leaving more potential business for foreign reinsurers. Read more
From January 1, 2017, the minimum amount of reinsurance cessions that Brazilian insurers must offe ... Read more
CIRC: insurers' solvency ratio averages 264 pct by end-Q1 under new solvency requirements BEIJING, July 22 (Xinhua) -- Chinese insurance industry's solvency ratio averaged 264 percent by end-March under the second generation of solvency regime that was introduced for a test run early last year, according to a statement issued by China Insurance Regulatory Commission (CIRC) on its website Wednesday. In February, the CIRC published a package of regulations for the new solvency system, and announced the beginning of a transition period ... Read more
CIRC: insurers' solvency ratio averages 264 pct by end-Q1 under new solvency requirements B ... Read more
The $10 billion GCC takaful industry is facing a shake-out following massive regulatory changes with respect to insurance over the past 12 months, Standard Poor's said. Read more
The $10 billion GCC takaful industry is facing a shake-out following massive regulatory changes wi ... Read more
Beijing-based Anbang Insurance Group has won government approval to buy Dutch insurer Reaal NV. The acquisition, made by Anbang Life Insurance Co., Ltd., a subsidiary of Anbang Insurance, was approved by the China Insurance Regulatory Commission (CIRC) on Monday, the CIRC announced on Thursday. Read more
Beijing-based Anbang Insurance Group has won government approval to buy Dutch insurer Reaal NV ... Read more
London. OREANDA-NEWS. After three years of steep decline, and more recently, stagnation in UK motor premiums, there seems to be some signs of timid relief on the horizon for motor insurers' technical profitability, says Fitch Ratings. A continuing rise in motor claims frequency and severity, despite government-led reforms, pushed UK insurers to increase their premiums in 2Q15, according to data from the AA British Insurance Premium Index published this week. The data shows a qoq increase of 5.2% for a typical comprehensive policy.This is in lin ... Read more
London. OREANDA-NEWS. After three years of steep decline, and more recently, stagnation in UK motor ... Read more
Bad-weather insurance claims may turn out big this year, on account of the heat and drought wave which is leading to the destruction of crops, maize in particular. According to current forecasts the lack of rain may cause claims to reach EUR 100 million (USD 109.4 million), Hagelversicherung insurance told APA. (EUR 1= USD 1.094) () aw Read more
Bad-weather insurance claims may turn out big this year, on account of the heat and drought wave w ... Read more
YOUNG drivers in Hull are being targeted by "ghostbrokers" selling bogus motor insurance. Detectives are investigating the sale of fraudulent policies across the city in recent weeks. A number of young drivers have been targeted by illegal insurance advisers who advertise on websites, social media and in classified adverts. Read more
YOUNG drivers in Hull are being targeted by "ghostbrokers" selling bogus motor insurance. Detecti ... Read more
(China) Limited and Society of Lloyd's Business Editors, Insurance Writers LONDON--(Business Wire)--July 22, 2015 A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings (ICR) of ``a+'' of Lloyd's (United Kingdom) and Lloyd's Insurance Company (China) Limited (LICCL) (China). At the same time, A.M. Best has affirmed the ICR of ``a'' of Society of Lloyd's (the Society) (United Kingdom) and the issue ratings of ``a-'' on the GBP 500 million 4.750% subordinated loan notes maturing 30 October 2024, t ... Read more
(China) Limited and Society of Lloyd's Business Editors, Insurance Writers LONDON--(Business Wir ... Read more
Here are four tips to help you avoid finding yourself on foot MONTREAL, July 22, 2015 /CNW/ - As Quebeckers head out on the road by the hundreds of thousands to enjoy their summer vacation, Intact Insurance and TAG Tracking would like to remind you that car thieves don't go away for the summer. In fact, they'll be keeping an eye on you, as well as your vehicle and property. The latest auto theft figures for Quebec, published today by Statistics Canada speak for themselves: Read more
Here are four tips to help you avoid finding yourself on foot MONTREAL, July 22, 2015 /CNW/ - As ... Read more
Impact Forecasting, Aon Benfield's catastrophe model development team, today launches the latest edition of itsGlobal Catastrophe Recap: First Half of 2015report, which evaluates the impact of the natural disaster events that occurred worldwide in the first six months of the year.Aon Benfieldis the global reinsurance intermediary and capital advisor of Aon plc (NYSE: AON). Read more
Impact Forecasting, Aon Benfield's catastrophe model development team, today launches the latest ... Read more
Join THE industry event of the year, the IIS 51st Annual Seminar at the Waldorf Astoria Hotel in New York City - the crossroads of the world. 500+ senior executives representing all sectors of the industry and all regions of the world will gather to address vital issues facing our industry. Learn more
According to Towers Watson’s Global Insurance ERM Survey of almost 400 insurers worldwide, insurers are most satisfied with ERM when they engage the risk management function as a business strategy partner. READ MORE