 TOP
NEWS |
Swiss Re: Underinsurance of property risks is a global challenge
by daniela.ghetu@mxp.ro, 2015-09-30
In the last 10 years, cumulative total damage to global property as a result of natural disaster events was USD 1.8 trillion, and about 30% of those losses were insured, says the latest sigma study "Underinsurance of property risks: closing the gap". In other words, the total shortfall in insurance cover - the protection gap - was USD 1.3 trillion. Much of the underinsurance is due to global natural catastrophe risk, which has risen steadily over the past 40 years.
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Russian RSA subsidiary IN-TOUCH may be for sale
by daniela.ghetu@mxp.ro, 2015-10-01
Royal & SunAlliance Insurance company (RSA) is planning to offload its operations in Russia and the Middle East as part of its attempts to strengthen its position after Zurich cancelled its plans to take over its rival, reports ShareCast News.
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Croatian Insurance Bureau to assist NBMI in educating the Montenegrin population in insurance
by vlad.boldijar@mxp.ro, 2015-10-01
Last week, Boris SABAN, Executive Manager of NBMI - National Bureau of Montenegro Insurers, and Hrvoje PAUKOVIC, Manager of CIB - Croatian Insurance Bureau, signed a Protocol on cooperation binding both institutions to cooperate on the plan of increasing the financial knowledge of the general population as well as of the financial sector, specifically on the insurance segment.
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VIDEO: EUROINS Romania expects profit in 2017
by oana.racatej@mxp.ro, 2015-10-01
EUROINS Romania has gone through many changes in the last couple of years, focusing more on the retail segment and on the MTPL market, as well as internal operations. The company's strategy seems to concentrate on underwriting smaller, rather than many large fleets.
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| ICAR LIVE |
NatCat risks tackled at ICAR
by oana.racatej@mxp.ro, 2015-10-01
The International CAtastrophic Risks Forum - ICAR 2015 organized in collaboration with the World Bank and the Romanian Ministry of Internal Affairs has reached its XII edition and took place on October 1st, in Bucharest, at the Hotel Athenee Palace. The event analyzed the effects of catastrophic events on society and on the insurance industry.
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SWISS Re: Christchurch quake claims higher than expected
by andreea.radu@mxp.ro, 2015-10-01
The massive and unexpected insurance costs connected to the series of earthquakes that hit New Zealand's Christchurch region in 2010 and 2011 exposed blind spots in current views of financial earthquake risk.
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Remi VRIGANUD: There are high differences between the urban and rural areas regarding the voluntary household insurance penetration degree
by adina.tudor@mxp.ro, 2015-10-01
The average premium for a voluntary household insurance policy in Romania is approximately 21 EUR per year, this product being much cheaper than a MTPL policy, Remi VRIGNAUD, President of UNSAR, explained during ICAR 2015.
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Eugene GURENKO, WORLD BANK: The recent regulatory changes should have a positive effect on the future penetration of the mandatory home insurance policies
by daniela.ghetu@mxp.ro, 2015-10-01
"After several attempts to reform the program, the PAID Law is getting in a more functional shape," stated EUGENE GURENKO, Senior Insurance Officer, World Bank on the occasion of the 12th edition of the International Catastrophic Risks Forum, in Bucharest.
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PAID, Romania: Preparing for a severe catastrophic disaster is our priority
by andreea.radu@mxp.ro, 2015-10-01
Implementing the Extended Disaster Management Plan, in preparation for the claims management process in case of a catastrophic event, is an urgent task for the Romanian Catastrophe Insurance Pool.
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Catastrophic risk, the third most important risk in Romania
by oana.racatej@mxp.ro, 2015-10-01
During the XII edition of ICAR 2015 - International Catastrophic Risk Forum, the representatives of the Romanian Financial Supervisory Authority - FSA, talked about the low penetration degree of household insurance in Romania and the most important risks the country faces in the context of natural catastrophes.
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Guy HUDSON, JLT Re: The current abundance of reinsurance capacity enables CEE markets to address the level of underinsurance in the region
by daniela.ghetu@mxp.ro, 2015-10-01
"Today's reinsurance market environment of abundant and competitively-priced capacity provides an opportunity for carriers to exploit these characteristics and make genuine strides in creating new solutions for un(der)insured risks," pointed out Guy HUDSON, Partner, JLT Re in the presentation he gave at ICAR 2015.
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Marcel ANDRIESSE, Swiss Re: The agricultural insurance market is becoming increasingly attractive
by adina.tudor@mxp.ro, 2015-10-01
The global agricultural insurance market is growing rapidly and it is becoming really attractive, Marcel ANDRIESSE, Senior Underwriter Agriculture, Vice president - Property, Specialty Underwriting, Swiss Re, explained during ICAR - The International catastrophic Risks Forum 2015.
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DASK, a global role model for the natural catastrophe risks management
by daniela.ghetu@mxp.ro, 2015-10-01
About 41% of the Turkish houses are covered for the earthquake risk and the subsequent fires, explosions, landslides, tsunami risks by a Mandatory Earthquake Insurance policy issued by DASK - the Turkish Natural Catastrophe Insurance Pool. Thus, out of the 17.66 million houses registered in the Turkish housing statistics at the end of September 2015, 7.18 million were covered for the earthquake risks within the mandatory insurance system, Necati ICER, Technical Manager, TARSIM, Turkey, explained during ICAR - The International Catastrophic Risks Forum 2015.
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Necati ICER ,TARSIM: A win-win balance after eight years of underwriting agricultural risks
by adina.tudor@mxp.ro, 2015-10-01
"TARSIM's overall balance demonstrate a win-win situation: on one hand farmers cashed higher compensations than the amounts paid for premiums; on the other hand, the pool's financial balance is positive, which means that it fulfills its role in a profitable way," pointed out Necati İCER, Technical Manager of TARSIM at ICAR 2015.
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| PRESS
CUTTINGS |
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| INTERVIEW |
 Dmitry GARMASH
Head of Moscow Representative Office
BARENTS Re (Panama)
Russian insurance community didn't succeed finding a proper, sufficient support from so called alternative markets (predominantly, from China, Asia, MENA) to cover the major portion of sanctioned exposure where the traditional Western markets can't be of support anymore. Thus, the ground for creating a state owned reinsurer looks reasonable to guarantee the high-valued state interests domestically and overseas with a stake on large scale projects (property, construction and cargo for international trade).
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| ON THE MOVE |
 EIOPA Chair Gabriel Bernardino extended for second 5-year term
by daniela.ghetu@mxp.ro, 2015-10-01
The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) has agreed to extend the term of office of EIOPA's Chairman, Gabriel Bernardino, for another five years from 2016 to 2021.This decision is based on the evaluation of Mr Bernardino's work and the results achieved over the past five year term as well as on EIOPA's duties and requirements for the upcoming years.
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| CURRENT
REPORTS |
| EVENTS |
Global Summit for Insurance Innovation
October 7-8, 2015
Madrid, Spain
Organizer: INESE
Media Partner: XPRIMM Publications
For details: www.innovation.inese.es
2nd Annual Claims Management Conference
October 8-9, 2015
Ayre Hotel Caspe, Barcelona, Spain
Organizer: C-parity
Media Partner: XPRIMM Publications
For details: Download
PDF Agenda
The 7th International Istanbul Insurance Conference
October 8-9, 2015
Istanbul, Turkey
Organizer: Insurance Practitioners' Association
For details: www.iiicturkey.com |
Trade Credit Insurance Summit 2015
October 11-13, 2015
Address Hotel, Dubai Mall, Dubai, UAE
Organizer: Informa
Media Partner: XPRIMM Publications
For details: www.tradecreditinsuranceme.com
1st International Life Insurance Conference
October 15 2015
The Westin Zagreb Hotel, Zagreb, Croatia
Organizers: Institute for Insurance, Svijet osiguranja journal, Tectus Ltd
Media Partner: XPRIMM Publications
For details: institutzaosiguranje.hr
Corporate Insurance
October 15-16, 2015
Moscow, Russia
Organizer: IC Energy
Media Partner: XPRIMM Publications
For details: www.icenergy.co.uk
Romanian Evening - Baden Baden
October 17, 2015
Kurhaus Restaurant
Baden-Baden, Germany
Organizer: STELLAR Re
Baden-Baden XPRIMM Reception
October 18, 2015
Kurhaus Casino, Runder Saal
For details: www.xprimm.com
AZERI Evening - Baden-Baden
October 18, 2015
Casino Restaurant Sommergarten |
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Meet Swiss Re in Baden Baden to talk about what the future may hold 
