By Anoop Khanna British motor insurers, already struggling with high costs and tougher environmental rules, now face a drop premium rates due to the decline in accidents and claims. According to a report by Reuters the average premium for a comprehensive motor policy in UK is now £770 ($972) based […]
Spotlight
Sir Muftau Oyegunle now CIIN President
Oyegunle Leave a comment and share Chuks Udo Okonta The Chartered Insurance Institute of Nigeria, CIIN is set to inaugurate Sir, Muftau Oyegunle as its President and Chairman of Council after the tenure of Eddie Efekoha elapsed after two years at the helm of affairs. The virtual event which will […]
In pandemics InsurTechs can create opportunities from threats
By Anoop Khanna Researchers from Cass Business School in London have suggested that COVID-19 will act as a catalyst for the industry-wide adoption of new digital initiatives in the insurance industry. The new research has also suggested that the pandemic has promoted the value of firms having a chief risk […]
UK:Survey reveals struggle of paying insurance premiums
By Ranamita Chakraborty Six out of 10 insurance professionals in the UK have been contacted by consumers who have struggled to afford their insurance payments due to the impact of the pandemic, according to findings from a Chartered Insurance Institute (CII) study. A poll of 221 CII members in June […]
4 things students should know about their health insurance and COVID-19 before heading to college this fall
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Paul Shafer, Boston University (THE CONVERSATION) As colleges and universities decide whether or not to reopen their campuses this fall, much of the discussion has focused on the ethics behind the decision and the […]
Over 5m Americans lost health coverage amid pandemic
By Ranamita Chakraborty The number of adults in the US without health insurance rose by 5.4m in the first three months after the first COVID-19 diagnosis in the country, according to a new report. “Families in America are losing comprehensive health insurance in record numbers. This creates particularly serious dangers […]
Insurance capital raising – Bolstering existing firm’s or funding start-ups?
Leave a comment and share While the global response to the COVID-19 pandemic has contributed to an unprecedented economic slowdown across the world, potentially reducing the value of insurable risk, market dislocation is creating attractive opportunities for insurers in some lines of business. In response, capital is coming into the […]
COVID-19 budget could rejuvenate life insurance market
By Ranamita Chakraborty The UK government’s recent COVID-19 emergency ‘mini budget’ has the potential to stimulate demand in the life insurance market according to data and analytics firm GlobalData. Last Friday, the government unveiled budget measures worth up to GBP30bn ($37bn) including a stamp duty cut on house purchases of […]
Global (re)insurer suggests public-private pandemic BI scheme
By Ranamita Chakraborty Chubb has proposed that a public-private partnership programme that provides business interruption (BI) insurance for enterprises in the US can be implemented before the next pandemic strikes. The (re)insurer’s suggested pandemic BI scheme comprises a programme for small businesses that provides an immediate cash infusion when a […]
Lloyd’s collaborates with three start-ups for COVID-19 innovations
By Anoop Khanna Lloyd’s has started work with three new InsurTechs to help the market respond to the COVID-19 pandemic. As part of its package of measures announced to respond to COVID-19, Lloyd’s has reimagined and expanded the scope, process and timings for new applicants to the Lloyd’s Lab innovation […]
