French global insurer AXA announced yesterday that its underlying earnings decreased by 34% to EUR4.3bn ($5.2bn), notably hit by COVID-19 related claims and by higher natural catastrophes.
More than half (52%) of financial institutions say they expect to have more gig-based employees in the next three to five years, according to PwC's report, 'Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services'.
As society becomes increasingly digital savvy, more and more people are turning to online reviews on rating sites, social media and online forums. This has led to a swell of reputational risk for businesses and organisations as many of these ratings and sites can be easily manipulated.
A new global programme will make compensation available to eligible individuals in 92 low- and middle-income countries without the need to resort to law courts. The programme being implemented by a collaboration of World Health Organization (WHO) and Chubb is the first global vaccine injury compensation mechanism.
Paris headquartered SCOR says that COVID-19 is helping to create the conditions for stronger reinsurance growth along with a positive pricing dynamic, even though the pandemic cost the global reinsurance company EUR640m ($777m) in 2020.
The takaful model carries considerable franchise risk, as takaful insurers are exposed to franchise reputation and going-concern risk in the event of non-compliance with Shariah law, says Moody's Investors Service in a report entitled "Characteristics of takaful insurers".
Internet of things (IoT) devices are posing an increasingly high risk of cyber attack to industrial and manufacturing businesses according to a new report released by Lloyd's in partnership with cyber analytics firm CyberCube and reinsurance broker Guy Carpenter.
Lloyd's has announced the results of its 2020 annual culture survey, which is designed to track the market's collective progress towards a more inclusive environment and identify areas that need specific attention and action to drive culture change.
Willis Towers Watson and Liberty Specialty Markets have together launched Reputational Crisis Insurance - a new solution that enables organisations to transfer the financial risk associated with certain types of reputational crises in addition to providing access to a range of non-insurance capabilities.
Most IT executives are quite satisfied with the way their organisation manages cybersecurity risk, but nonetheless expect renewed investment this year (2021) according to a new survey report from access management company OneLogin.