Of Special Interest


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12th April 2020

Newslink Global Insurance Trends-Editor's Weekly Overview

This week, the COVID-19 pandemic and its potential impact again made many of the insurance headlines. S&P Global Ratings supported Lloyd's decision to ask those members who have suffered sizable losses related to the pandemic to accelerate capital injections. Encouragingly, PPL usage has surged since London Market remote working started nearly three weeks ago, and Lloyd's has also selected twelve new InsurTech disruptors as its next Lab cohort. DBRS Morningstar released a commentary entitled “P&C Insurance: The Conundrum of Business Interruption Coverage during the Coronavirus Pandemic”, and Allianz Global Corporate & Specialty(AGCS) published "Coronavirus: Safety Measures For Businesses Forced To Temporarily Close Their Premises". The Global Federation of Insurance Associations(GFIA) published a statement on the pandemic, and EIOPA will carry out weekly solvency and financial monitoring calculations and publish them on its website. Aviva, Direct Line, Hiscox, and RSA all took the decision, supported by regulators, to suspend planned dividend payments until the global pandemic position is clearer. UKP&I Club provided guidance to a number of member enquiries relating to COVID-19.
The latest Swiss Re sigma report indicated socio-economic developments and climate-change effects are to drive rising losses from severe weather events, and Tropical Storm Risk(TSR) predicted upcoming Atlantic hurricane activity at 25% above the long-term norm. Experts from the Intergovernmental Panel on Climate Change(IPCC) will work virtually next week to advance their work on the Working Group III contribution to the Sixth Assessment Report.
NFU Mutual selected additional Guidewire Core, Data, and Digital products, Illinois Mutual chose Sapiens solutions, and Signavio launched its BusinessTransformation Suite for insurance industries. Evertas said the lack of a robust insurance market is hampering the adoption of cryptoassets and blockchain infrastructure.
Peak Re moved for Bermuda-based ILS asset manager Lutece. There were senior appointments at Ageas, QBE, and Marsh.

Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
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