MARKETS & TRENDS

Challenges and opportunities of agricultural risks transfer

Despite the rapid movement of the modern world towards digitalization, high technology and process sophistication, the longtime existing agricultural industry remains important for satisfying the primary needs of humanity in food and basic material. In parallel with all technological development people are returning to forgotten principles of sustainable nutrition. Can agricultural industry support this trend? Which challenges agricultural industry experience itself in the era of climate change? We have discussed these and other questions with Olena SOSENKO - International expert in agricultural risk management.
The CEE insurance market saw a 11.5% y-o-y growth in 2017, statistical data gathered by XPRIMM show. Overall, GWP amounted to EUR 36.12 billion. With a similar increase, paid claims reached almost EUR 22 billion. The forthcoming issue of the XPRIMM Insurance Report for FY2017, to be launched on May 14, will present in depth information in this regard.

SERBIA: New Law on Compulsory Traffic Insurance announced

By 2020, Serbia should adopt new regulation in the field of insurance, which would follow the requirements in the process of European integration. The biggest challenge will be the adoption of the new Law on Compulsory Traffic Insurance, to replace the current Law adopted in 2009.

Europe's future may lie in its pensions

The EU is set to introduce an entirely new class of pension products, according to a proposal by the European Commission currently under debate. Here comes the... PEPPs.

Allianz Risk Barometer 2018 - Business Interruption and cyber-related incident, top threats for companies globally; NatCat risks return on the top risk agenda

Evolving nature of risk, and rise in cyber-related incidents, means business interruption ranks as top threat for companies globally, according to 1,900+ risk experts from 80 countries, the latest Allianz Risk Barometer shows. On the other hand, while the economic state of the global economy seems to arouse less concern, the strong wave of Nat Cat events brought by the second half of 2017 has placed once again natural catastrophes and climate change up on the risk agenda.

S&P's: Introducing compulsory cessions could support Russia's domestic reinsurance market, or undermine it

In a recently published report S&P Global Ratings said that operating conditions for Russian reinsurers have become considerably more complex over the past few years In the agency's view, the market has become more concentrated, in part because of an increase in minimal capital requirements since 2012. The Russian reinsurance market lacks internal capacity and remains heavily dependent on reinsurance protection from developed markets.

S&P Global: Polish motor insurers face a decade of uncertainty due to retrospective bereavement damages claims

Over 12 months, average prices for Poland's mandatory motor third-party liability (MTPL) insurance have shot up by about 47%. S&P Global Ratings attributes part of this spike in policy prices to the rising cost of bodily injury compensation claims in Poland over recent yearsPolish motor insurers have also seen fierce competition and inflation in spare parts claims, reads a study recently published by S&P Global. Courtesy to S&P's, XPRIMM readers are exclusively offered access to the study's findings.

New insurance solutions to cover evolving exposures that businesses face

The global commercial insurance market was worth about USD 720 billion in premiums in 2016. The 10 largest markets mirror the world's biggest economies, and account for 73% of global commercial premiums. They include the leading industrialised countries of the G7 group, China, Australia and South Korea. The latest sigma study "Commercial insurance: innovation to expand the scope of insurability" is about the innovative risk transfer solutions available to cover the ever-evolving range of exposures that companies face.