The varying language used in insurance policies, as well as an expansive interpretation of 'physical damage', could mean courts looking favourably at the business interruption (BI) claims filed in the US arising from the COVID-19 pandemic.
Bermuda-based RenaissanceRe Holdings has commenced an underwritten public offering of 5.5m common shares.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has increased its business insured by 20% to reach $10.86bn in 2019, the highest in the past decade, according to a statement from the company.
Last month, Russell Group hosted a virtual roundtable discussion, titled "Insuring The Uninsurable".
The Finishes & Interiors Sector (FIS), a UK representative body for the interior construction industry, has launched a COVID-19 restart risk management checklist offering targeted and comprehensive advice for businesses across the sector.
French reinsurer SCOR is strengthening its sustainable actions towards a low-carbon economy within its investment portfolio and became a member of the Net-Zero Asset Owner Alliance on 27 May 2020.
A new report by catastrophe modelling firm Karen Clark & Co., (KCC) has said that the COVID-19 pandemic will make this year's hurricane season, which is expected above-average, even more difficult.
As global warming continues, the climate also continues to change rapidly. A variety of impacts due to climate change are already being felt around the world. The first "Climate Change Starter's Guide" published by the Life Insurance Association of Japan (LIAJ) is a useful starting point for addressing climate change.
Allianz unveiled the first edition of its "Global Pension Report", taking the pulse of pension systems around the world with its proprietary pension indicator, the Allianz Pension Indicator (API). The indicator follows a simple logic: It starts the analysis with the demographic and fiscal prerequisites and then continues to examine pension systems along their two decisive dimensions: sustainability and adequacy. Hence, it is based on three pillars and takes all in all 30 parameters into account, which are rated on a scale of 1 to 7, with 1 being the best grade. By adding up all weighted subtotals, the API assigns each of the analysed 70 countries a grade between 1 and 7, thus providing a comprehensive view of the respective pension system.
Tokio Marine HCC yesterday announced it has completed its acquisition of specialist renewable energy underwriter, GCube.