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ViewpointWhat are the XoL reinsurance Implications of the UK’s BI FCA Test Case?
The 15 January Supreme Court judgment on disputed business interruption (BI) claims will have a significant impact on property insurers but its findings do not govern the reinsurance response to Covid losses, according to Guy Carpenter.
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Viewpoint
How MGAs demonstrate value amid recent shocking under-investment in data
DA Strategy director Charles Rowley provides recommendations for managing the disequilibrium in the delegated authority sector as hard market conditions take hold globally and insurers press for demonstrations of true value in their MGA or coverholder partnerships.
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Viewpoint
BI test case: Implications for the insurance market
Now that the dust has settled from the Financial Conduct Authority’s test case over disputed business interruption claims, the (re)insurance sector – and its lawyers – can now assess the long-term implications of the Supreme Court ruling.
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Viewpoint
Can parametric insurance help build disaster resilience in the US?
New approaches to risk transfer need to be explored and developed to fill coverage gaps in the face of increasing climate-related risks, argue MMC’s Alex Bernhardt and Carolyn Kousky of UPenn’s Wharton Risk Management and Decision Processes Center
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Viewpoint
Supreme Court judgment fires starting pistol for Covid-19 reinsurance battle
The 15 January Supreme Court judgment will have a significant impact on property insurers, having effectively broadened the cover available to policyholders under non-damage business interruption extensions of cover.
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Viewpoint
Why hurricane risk modelling has to change
Following another active season, Martin Bertogg, head of cat perils and cyber at Swiss Re Institute, questions whether the way the industry models hurricane risk needs to evolve.
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Viewpoint
Judgment Day II: What to expect from the appeal of the FCA test case…
As The Insurer revealed yesterday, on Friday the Supreme Court will hand down its judgment on the Financial Conduct Authority’s appealed landmark test case on disputed Covid-19 business interruption claims in a verdict expected to have far-reaching consequences for both UK carriers and policyholders.
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Viewpoint
SolarWinds exposes cyber risk assessment gap
QOMPLX president and general manager of insurance Alastair Speare-Cole says that regardless of the size of insured losses, the hack of US network management software firm SolarWinds is a wake-up call to the industry and insureds.
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Viewpoint
The $350bn US legacy opportunity
BMS’ Mory Katz tells The Insurer that all existing long-tail reserves are potential opportunities to utilise a growing range of run-off products, as insurers look to legacy solutions as part of their overall capital management strategy.
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Viewpoint
Shift in “risk perception” to sustain pricing momentum in 2021
A clear adjustment in risk perception among (re)insurers is set to drive continued pricing momentum at other significant renewals in 2021, said David Flandro, managing director of HX Analytics and Howden Capital Markets.
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Viewpoint
A eulogy for concurrency
Jeff Irvan, chief property officer at BMS, says non-concurrent reinsurance placements are becoming increasingly commonplace as quoting ranges widen…
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Viewpoint
Good fundamentals
Prime Holdings Insurance Services chairman and CEO Rick Lindsey says proper claims handling, not hard market price increases, is the route to underwriting profitability for insurers.
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Viewpoint
Deadbeat insurer!
The world is going through an extraordinary moment due to the Covid-19 crisis, and while all sectors have been hit, the (re)insurance sector has been particularly affected for two main reasons, writes Hervé Nessi, chief underwriting officer at CCR Re.
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Building financial resilience for pandemics
Widespread availability of pandemic insurance, through the industry’s private sector incentives and the federal government’s access to capital, would provide policyholders with long-term incentives to reduce their risks from contagious diseases, argues Daniel Kaniewski, managing director at Marsh McLennan Companies.
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Viewpoint
Appeal: What to expect as the FCA test case heads to the Supreme Court
The September ruling in the Financial Conduct Authority (FCA)’s landmark test case will be examined in the UK’s highest court this week in a hearing set to have far-reaching consequences for both carriers and policyholders. With so much at stake and to make sense of the issues at hand, ...
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Viewpoint
Can cedants aggregate their Covid-19 losses arising from the first and second lockdowns?
Jonathan Sacher and Richard Jennings of Bryan Cave Leighton Paisner analyse some of the reinsurance implications of the second lockdown.
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Viewpoint
Carbon’s Card: 35% SIAB expense ratio a “challenge”
While significant strides have been made to encourage the reduction of soaring and unsustainable expense ratios at Lloyd’s for the market’s greater good, Stephen Card, CEO of Carbon Underwriting, admits that parts of this effort are a “challenge”.
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Viewpoint
Efficient and innovative MGA model drives strong growth in US program sector: Jameson
The efficiency of the MGA model, the product innovation it brings and the influx of new program carriers fuelled by reinsurer appetite are all factors in the strong rate of growth seen in the US programs sector, according to Michael Jameson, head of Guy Carpenter’s new GC Access unit.
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Viewpoint
E&S barriers to entry will limit impact from start-up capital: Iglesias
New capital formation targeting hard market opportunities in the P C industry will face significant barriers to entry in the E S sector and will not have a meaningful impact on dynamics, according to Allied World president and CEO Lou Iglesias.
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Viewpoint
Up next: hyper social inflation?
Social inflation in the time of Covid – Mia Finsness, managing executive, global casualty underwriting and claims at Markel, asks whether the pandemic is distracting casualty insurers from the bigger threat
