Industry News

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HyreCar To Implement Captive Insurance Solution for Ridesharing

Through a joint venture, HyreCar, Inc., will partner to create a captive insurance company designed for car sharing in the ridesharing space. The company said a captive solution will give it the flexibility to reduce risk and increase profit margins while providing tailored insurance solutions for the on-demand economy.
October 26, 2018 Read More
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Insurers and Reinsurers Actively Shaping ESG Agenda

Some major re/insurance industry participants are now actively involved in shaping the so-called environmental, social, and governance (ESG) agenda as a result of their unique role as risk managers, institutional investors, and risk insurers on behalf of a wide range of industries.
October 25, 2018 Read More
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Allianz Measures Natural Capital Risks in a Recent Report

In a recent report, titled "Measuring and Managing Environmental Exposure: A Business Sector Analysis of Natural Capital Risk," Allianz Global Corporate & Specialty delved into so-called natural capital risks. Read on to find out what is in the report.
October 25, 2018 Read More
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Hub International Sets Up Hospitality Group Captive Insurer

Hub International Limited (HUB) has set up a hospitality member-owned group captive insurance company. HUB said it designed the hospitality group captive to meet the challenges of insuring the exposures of the hospitality industry as well as other industries.
October 24, 2018 Read More
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A Look at the New Willis Towers Watson Captive Quantified Model recently sat down with Sean B. Rider, executive vice president and managing director of Willis Tower Watson's global captive practice, to discuss the evolution of the organization's newest model, "Captive Quantified," and its reception in the captive insurance market.
October 23, 2018 Read More
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ILS "Alternative Capital" Has Become Mainstream

Those active in insurance-linked securities (ILS)—end investors, ILS funds, and buyers—have predominantly weathered 2017 loss activity with a view that reinsurance products backed by "alternative" capital have become mainstream, according to the latest Willis Towers Watson "Global ILS Market Survey."
October 23, 2018 Read More

Register for the 2019 IRMI Energy Risk & Insurance Conference (ERIC)

International Risk Management Institute, Inc. (IRMI®), has opened registration for the 2019 IRMI Energy Risk & Insurance Conference (ERIC), to be held February 25–27, 2019, at the Royal Sonesta in Houston.
October 22, 2018 Read More
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Swiss Re Shoulders $1.1 Billion from Nat Cat Claims in Third Quarter

In the third quarter of this year, Swiss Re estimated it will shoulder combined claims costs of $1.1 billion from recent natural catastrophes (net of retrocession and before tax). While the third-quarter loss estimates are large for an individual quarter for Swiss Re, the cumulative losses for the first 9 months are broadly in line with year-to-date expectations.
October 19, 2018 Read More
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Demotech Releases Second Quarter 2018 Financial Analysis of RRGs

Demotech has released its "Analysis of Risk Retention Groups—Second Quarter 2018," reporting on the overall financial performance of risk retention groups (RRGs). Demotech's senior financial analyst, Douglas Powell, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses."
October 19, 2018 Read More
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Estimated Insured Losses for Hurricane Michael Are $6 to $10 Billion

Catastrophe risk modeling firm AIR Worldwide estimates insured wind and storm surge losses for Hurricane Michael will be between $6 billion and $10 billion.
October 18, 2018 Read More
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General Commercial Lines Hardening, According to IVANS

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" third-quarter results. The results showcased an increase in premium renewal rate change across nearly all of the commercial lines of business compared to the second quarter, except for businessowners policy and workers compensation.
October 15, 2018 Read More
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Willis Towers Watson Enters into a Global InsurTech Partnership

Plug and Play and Willis Towers Watson have entered into a global InsurTech partnership. The agreement extends Willis Towers Watson's access to early-stage InsurTech startups across all of Plug and Play's InsurTech platforms, which include Beijing, Munich, New York, Silicon Valley, Singapore, and Tokyo.
October 12, 2018 Read More
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Best's Briefing: Considers Hurricane Michael Catastrophe Losses

Although Florida's insurance market-share leaders possess strong levels of risk-adjusted capitalization that should provide a buffer against Hurricane Michael losses, insurers, reinsurers, and insurance-linked securities investors could face significant losses, according to a new A.M. Best briefing.
October 12, 2018 Read More
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Allianz Restructures Its Alternative Risk Transfer Line

Allianz Global Corporate & Specialty will restructure its alternative risk transfer (ART) line of business into two teams. ART Chief Underwriting Officer Richard Boyd will head up the capital solutions insurance-linked markets team. The remaining ART practice groups will be led by Michael Hohmann.
October 11, 2018 Read More
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"You Own an Insurance Company, Now What?" Free Captive Insurance Webinar

Join Management Services International for a complimentary captive insurance webinar, "Captives 2.0: You Own an Insurance Company, Now What?," that will take place on Thursday, October 18, 2018. The course begins at 2:00 p.m. (EDT) and will be hosted by Jeremy Colombik.
October 10, 2018 Read More
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Greenlight Re Invests in Healthcare Benefits Administrator

Greenlight Re has invested in Sana Benefits, an Austin-based third-party administrator startup focused on the self-insured healthcare market in the United States. Sana Benefits helps small-to-medium-sized businesses access employee benefit plans to self-insure their employees.
October 09, 2018 Read More
  Risk Management

FERMA Says Risk Managers Play Major Role in Business Transformation

In a statement from the 2018 European Risk Management Seminar, the Federation of European Risk Management Associations (FERMA) said demand for sustainability, good corporate behavior, and rapid digitization are leading to profound changes in organizations and the work of risk managers.
October 09, 2018 Read More
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Man-Made Risks Forecast To Cost World's Cities $320 Billion Annually

Man-made risks like cyber crime, interstate conflicts, or market crashes are a bigger threat to economic output than natural disasters such as hurricanes, floods, earthquakes, and volcanoes, putting an estimated $320.1 billion of global gross domestic product at risk on average each year, according to Lloyd's.
October 08, 2018 Read More
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Ignoring Culture Is Not an Option in M&A Transactions

Mercer's mergers and acquisitions (M&A) readiness research report, titled "Mitigating Culture Risk to Drive Deal Value," found that 43 percent of M&A transactions worldwide experienced such serious culture issues that deals were delayed or terminated or purchase prices were negatively impacted. In addition, 67 percent experienced delayed synergy realization due to culture issues.
October 05, 2018 Read More
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Reinsurance M&A Driven by Strong Competition and Scale Benefits

Consolidation of the global reinsurance industry will continue, as intense market competition and capital levels drive mergers and acquisitions (M&A), while smaller players lacking scale and diversification see further pressure on growth and profitability, Fitch Ratings said.
October 05, 2018 Read More