International News

International News

New market research forecasts global travel insurance industry performance

July 6, 2022

Cyprus Insurance News Team

Leading market research store ResearchAndMarkets.com has expanded its offering to include the Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The report gives both a comprehensive analysis of the industry’s market performance so far and a projection of its performance in the coming years. It also identifies key regional markets […]

Read more

International News

Brokers value communication and flexibility from insurers – Allianz

July 5, 2022

Cyprus Insurance News Team

Brokers want better communication and more of a personal touch from insurers when dealing with complex claims, according to a new survey by Allianz.

Read more

International News

Lloyd’s CEO says value and awareness of insurance ‘never higher’

July 4, 2022

Cyprus Insurance News Team

John Neal, CEO of Lloyd’s, has said that the value and awareness of insurance has never been higher.

Read more

International News

PwC warns of insurance bill rises caused by inflation

June 30, 2022

Cyprus Insurance News Team

PwC estimates that UK businesses may see price rises of between 10-20% in the cost of their annual insurance bill.

Read more

International News

Insurers welcome proposals for new EU system to avoid double taxation; call for refinements and clarifications

June 30, 2022

Cyprus Insurance News Team

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 […]

Read more

International News

Insurer must pay Spanish claim in Galicia oil spill, EU court says

June 23, 2022

Cyprus Insurance News Team

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 […]

Read more

International News

Tesla Leads in Driver-Assisted Technology Crashes: NHTSA

June 17, 2022

Cyprus Insurance News Team

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 […]

Read more

International News

‘IFRS 17: Will we make it?’: 270 insurers share their thoughts

June 17, 2022

Cyprus Insurance News Team

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.

Read more

International News

Cyber insurance pricing rises amidst multiple factors – Marsh

June 16, 2022

Cyprus Insurance News Team

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 […]

Read more