News - Insurance

E-scooters: insurance and safety implications from GFIA

GFIA (Global Federation of Insurance Associations) has issued a paper regarding their recommendations for the e-scooters which became one of fastest growing urban mobility trends and it is crucial to understand the risk profile of e-scooters and jurisdictional best practices for regulating them.

SCOR will provide life insurance through Bayer and One Drop

SCOR has announced a new partnership with Life Science company Bayer and One Drop to provide life insurance products for people with chronic conditions. They will bring One Drop's AI-powered digital health platform to life insurance carriers and policyholders across the United States.

RENOMIA strengthens its position within CEE and enters Latvia

RENOMIA purchased a majority stake in R&D APDROSINASANAS BROKERS (R&D Insurance Brokers Ltd.), a local company based in Riga and strengthened its position within Central and Eastern Europe (CEE) as Latvia became the eighth European country in which RENOMIA has direct representation.

Romania: ASF fined the two largest MTPL insurers

Following the control actions conducted by ASF, CITY Insurance and EUROINS Romania - the two insurers accounting for almost 75% of the MTPL insurance portfolio in Romania - were sanctioned by the local insurance market supervisor, wrote.

RUSSIA: Conference "InsurSelling-2021. Insurance sales - strategy and tactics, transformation and evolution, myths and reality "

On January 27, 2021, the first conference "InsurSelling-2021. Insurance sales - strategy and tactics, transformation and evolution, myths and reality", organized by "Insurance Today" in a mixed, online-offline format, in which some of the speakers gather in a specialized studio, and all other speakers and participants take part in the online mode, will take place in Moscow.

CHUBB CFO Philip BANCROFT to retire; Peter ENNS to replace him effective July 1

Philip BANCROFT - CHUBB Group Executive Vice President of and Chief Financial Officer, plans to retire from the company on July 1 after 19 years of service. Peter ENNS has agreed to join the company on or before April 1 as Executive Vice President, Finance, CHUBB Group and succeed BANCROFT upon his retirement.

CHUBB appoints Jeremiah KONZ Chief Reinsurance Officer

CHUBB announced that Jeremiah KONZ has been appointed with immediate effect as Chief Reinsurance Officer. He succeeds Michael KESSLER, who was appointed Division President of the company's global cyber risk insurance business. Jeremiah KONZ will report to John KEOGH, President and Chief Operating Officer of CHUBB.

British insurers bound to pay Covid-19 related BI claims

The U.K. Supreme Court ruled last week that insurers must pay out to hundreds of thousands of companies forced to close during the country's first pandemic lockdown, ruling in favor of the Financial Conduct Authority in a landmark case over business interruption cover, Law360 (London) reported.

SCOR and CyberCube develop a cyber risk management tool

The reinsurance industry must manage the risk of large cyber events potentially impacting multiple insured portfolios. Reinsurers are facing a multi-faceted and fast-evolving cyber threat that requires ever greater modeling and analytics capabilities.

STATISTICS: 9 months profits of Slovak insurers more than doubled to EUR 132.63 million

In the first three quarters of 2020, the Slovak Republic insurance market totaled EUR 1.68 million, 1.88% less y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).

The life insurance segment was down by 6.82% y-o-y to EUR 702.89 million, these types of policies generating 41.79% of the total insurance market, while the remaining 58.21% was accounted by non-life subclasses - GWP of EUR 979.17 million or 2% more y-o-y.