As of September 8, 2019, a procedure exists for peaceful settlement of traffic accidents without police documentation, Capital.market reported, according to the press-service of the National Commission for Financial Markets (CNPF).

At the beginning of September, Turkmenistan joined the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDB), thus becoming the 47th member country of ICIEC, the Corporation announced.

Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market. To ensure a long-term sustainable reinsurance market, further rate increases are needed to adequately reflect the risks, as shown by the current hurricane season.

Aon published its half-year ARA (Aon's Reinsurance Aggregate) report on the global reinsurance market. The report shows strong earnings among the top reinsurance companies, driven by premium growth, a small incidence of major losses and improved investment results.

RMS estimate for insured losses to the Caribbean from Hurricane Dorian is between USD 3.5 - 6.5 billion, a significantly higher amount compared to the AIR Worldwide one a week ago. This estimate represents insured losses associated with wind and storm surge damage across the Caribbean region, most notably in the Bahamas.

On September 4 the Bank of Russia published a draft regulation on the minimum requirements for combined MTPL and Motor Hull insurance products, which allows the addition of Motor Hull clauses directly into the MTPL policy without making a separate contract, ASN reports.

On August 4, 2019, the law on housing insurance for emergency situations came into force, according to which regional authorities can develop their own insurance programs, ASN reports. Under it, homeowners may get coverage not only for natural risks, but also for manmade or technological risks as fire, gas explosion etc.

From January to June 2019, taxes paid by local insurers in Armenia amounted to AMD 928.5 million (~EUR 1.7 million), which is 18.2% less y-o-y, ArmInfo reports.

Guy Carpenter's terrorism model, Sunstone, is global and reflects the full spectrum of attack types. To improve the impact of terrorist atacks assessment across a large portfolio, the company is developing a 3D cityscape blast modeling tool that provides for a detailed representation of central business districts.

SCOR has been informed of the decision by Standard & Poor's (S&P) to affirm the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook", and to maintain the counterparty credit ratings at "AA-/A-1+".

Xceedance announced the availability of On-Demand Catastrophe Modelling Services, using the Oasis Loss Modelling Framework (Oasis LMF).

Munich Re offers its clients two new services that make claims settlement easier for insurance companies, in the natural hazards area. The new services address wildfire and hurricane damage claims.

AIR estimates that the global modeled insured average annual loss from catastrophes worldwide is about USD 92 billion, according to 2019 Global Modeled Catastrophe Losses report.

The insurance industry continues to face the challenges of surplus capacities and historically low interest rates. Prices and conditions have nevertheless taken an appreciably more pleasing turn in 2019 compared to just one year earlier, is Hannover Re's opinion.

Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Dorian's impact to the Caribbean will range from 1.5 billion USD to 3 billion USD.

Reinsurance rates have taken a slightly ascending path overall, but the trend is more visible in some regions as the pricing cycles' characteristics have changed, becoming more geography sensitive than in the past, a panel of experts have explained speaking at the S&P Global Ratings' Annual Reinsurance Roundtable at Monte Carlo.

Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market.

The world economy is less resilient now than in 2007 at the onset of the global financial crisis, according to the new Macroeconomic Resilience Indices jointly developed by Swiss Re Institute (SRI) and the London School of Economics (LSE).

The 63rd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

Vienna Insurance Group (VIG) starts operating in Sweden, Norway, Denmark and Finland. A locally established team of VIG underwriters will be offering insurance solutions to corporate customers through brokers, the Austrian group has announced.