Lloyd’s CEO says value and awareness of insurance ‘never higher’
John Neal, CEO of Lloyd’s, has said that the value and awareness of insurance has never been higher.
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PwC warns of insurance bill rises caused by inflation
PwC estimates that UK businesses may see price rises of between 10-20% in the cost of their annual insurance bill.
Insurers welcome proposals for new EU system to avoid double taxation; call for refinements and clarifications
Insurance Europe has responded to a consultation conducted by the European Commission on withholding taxes and a new EU system to avoid double taxation. Insurance Europe welcomes the initiative, as the current rules lead to lengthy, complex and costly withholding tax relief procedures. Insurance Europe takes the view that substance requirements should be harmonised, and that the […]
Insurer must pay Spanish claim in Galicia oil spill, EU court says
BRUSSELS, June 20 (Reuters) – Spain on Monday won backing from Europe’s top court in its mutli-million euros damage claim against The London Steam-Ship Owners Mutual Insurance Association for a massive oil spill on its northwestern coast two decades ago. The 2002 sinking of the Greek oil tanker Prestige, which was sailing to Gibraltar, released […]
Tesla Leads in Driver-Assisted Technology Crashes: NHTSA
Tesla Inc. reported 273 vehicle crashes since July involving advanced driving assistance systems, more than any other automaker, according to data U.S. auto safety regulators released on Wednesday. Automakers and tech companies reported more than 500 crashes since June 2021, when the National Highway Traffic Safety Administration (NHTSA) issued an order requiring the information. Two […]
‘IFRS 17: Will we make it?’: 270 insurers share their thoughts
WTW has released the results of its latest global survey entitled ‘IFRS 17: Will we make it?’, polling 270 insurers from 45 countries – including 26 large multinationals – on material progress they have made since WTW’s last IFRS 17 poll in 2021.
Cyber insurance pricing rises amidst multiple factors – Marsh
The latest UK Cyber Insurance Trends Report from Marsh states that pricing in the sector rose quickly in Q3 and Q4 2021, while the market focuses on addressing systemic risk. However, Marsh said that efforts to tackle this through exclusionary language have caused frustration for clients, while the ongoing war that Russia began against Ukraine is creating […]