Global reinsurer Munich Re anticipates to see continued market hardening in Europe to accompany January 2022 renewals, while the major losses and inflation indicate more pricing discipline. "Due to the character of risks like natural catastrophes, COVID-19, and rising cyber-attacks, the role of reinsurance is increasingly transcending risk transfer", as the German reinsurer mentioned in a statement.
As the UN Convention on Biological Diversity (COP-15) approaches, Swiss Re Institute addressed in its 'Biodiversity and the Benefits for Human Health' publication just how valuable time spent in nature can be for physical and mental well-being and, in turn, for reducing health related expenses.
Despite the health crisis capturing everyone's eye for longer than a year, climate change tops now the risk ranking, shows the Future Risks Report released by AXA. In the USA, cyber risk is on the rise and becoming the number one concern, while preparedness for dealing with both risks is till inadequate.
"Overall, inclusive insurance is still a nascent business in the CEET region and is not currently a top priority for most insurance supervisors in the area," is the finding of the REPORT ON THE INCLUSIVE INSURANCE REGULATORY LANDSCAPE IN THE CEET REGION recently published by Access to Insurance Initiative (A2ii).
ESG and sustainability have gained huge attention within Russian media and politics in recent months, argues Gepa Jansen,
Operational Leader Team Russia & CIS at Swiss Re in the following article. Read her opinion oin the opportunities that ESG brings to the Russian insurance market.
The last report "New Care Models: How insurers can rise to the challenge of older and sicker societies", which is a product of the Health & Ageing work stream of The Geneva Association, co-sponsored by Thomas BUBERL, CEO of AXA, and Michel KHALAF, CEO of MetLife, explores innovations in the planning, purchasing and delivery of health services.
Extreme precipitation in mid-July resulted in the costliest European flooding event on record, and the deadliest in nearly 30 years, reads the Global Catastrophe Recap report released by Aon. Only in Germany, the official death toll listed at 197, while direct damage was anticipated at about USD 20 billion, of which up to USD 6.5 billion insured losses.
Estimated insured losses from natural catastrophes at USD 40 billion are the second highest on record for a first half year since 2011, the Swiss Re Institute said, stressing out that winter storms, intense heatwaves and severe flooding around the globe continue to signal the growing risks from secondary perils, fueled by rapid urban development and climate change.
In the research report named "Why life insurers are embracing partnerships and ecosystems", prepared in partnership with EIS, the leaders shared some tips for how life insurers can benefit from partnerships and ecosystems.
Year 2021 will see an above-trend global premium growth of 3.3%, while for 2022 a 3.9% growth rate may be expected, the latest annual world insurance premium sigma released by the Swiss Re Institute. As such, global premiums may reach USD 6.9 trillion.
The third edition of the Global Insurance Law Connect RADAR report gives an opportunity to know the approaches, regulatory challenges, and stories of innovations that different markets share during such a challenging period that the industry is going through.
The pathway to tackle climate change is clear: Reducing CO2 emissions is the priority and then any unavoidable emissions need to be removed from the atmosphere and stored permanently, the latest Swiss Re Institute report "The insurance rationale for carbon removal solutions"
"From a cyber perspective, only two types of companies exist: those that have been hacked and those that will be hacked," reads a recent Hiscox report
which also calls ransomware attacks a "digital pandemic" with which 2020/21 will be for ever associated, as well as with the Covid-19 pandemics.
The Covid-19 pandemic not only caused millions of premature deaths, but it had also an impact on the number of births. This trend, especially if lasting for several years, will increase the demographic imbalance, exacerbating the challenges of an ageing population.
A new report
released by The Geneva Association offers a comprehensive projection of the risk landscape in the post-pandemic world, or 'New Normal', expounding the four most consequential shifts for insurers: accelerated digitalization, 'Big Government', pivot to resilience and sustainability, and more remote working.
Authored by Isabelle Fluckiger and Matteo Carbone, a new report
from The Geneva Association explores how IoT applications are driving the shift from traditional risk transfer to technology-enabled risk mitigation and prevention services in the insurance industry.
Zurich has issued a report containing fresh insights about national economic responses to the pandemic and how the future of the world of work and social protection have in many ways already arrived.
Successful insurers will connect channels and empower their distribution network with emerging technologies, to overcome COVID-19's impact on customer acquisition and retention, the recently published Capgemini
's World Insurance Report 2021
Throughout 2020, a significant change in how people are using their cars has developed, driven by the lockdown and the subsequent travel restrictions, as well as by the new remote working stile or the avoidance of using public transportation means.
The second report in The Geneva Association's research series on pandemics and insurance explores four exemplary and generic types of public-private pandemic risk solutions - direct insurance, reinsurance, social insurance and post-event protection - and compares the benefits of each against seven public policy objectives.