TOP EVENT

BB Headlines: Rates are settled to increase following Q3 events

The main effect after the Q3 nat cat bill of over USD 100 billion: Global reinsures said - the "discounts and reductions in tariffs era" especially in European reinsurance market for the January 2018 renewals, will come to end. At the same time, some reinsurers might disappear and there are likely to be more mergers, acquisitions and run-offs processes.

23.10.2017

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Baden-Baden Reinsurance Symposium: the industry-wide impact of disruption

"In our business we are more than used to disruptions [...] But the pace of disruption has been amplified by new sources of data and by the increase in the power to collate this data", James NASH, the President, International of GUY Carpenter stated during his opening address at the Reinsurance Symposium in Baden-Baden on 22 October.

23.10.2017

The 9th International Istanbul Insurance Conference started today in Istanbul

In emerging markets like Turkey, there can be a significant difference between the insured and total insurable losses. Parametric insurance is a smart way to close this protection gap. While the traditional products cover an insured loss, parametric products provide financial protection for various expenses from financial liabilities to contingent loss of profit which, in return, decreases the economic loss burden following a CAT event.

04.10.2017

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News

Five new XPRIMM Publications will be available in Baden Baden

Five new titles will be available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.

19.10.2017

ZURICH expects USD 700 million in Q3 hurricane claims

ZURICH Insurance Group said that it expects to pay out aggregate Q3 claims related to the three major hurricanes impact - Harvey, Irma and Maria, worth of USD 700 million (net of reinsurance and before tax). After tax, the losses are expected to be around USD 620 million.

19.10.2017

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ON THE MOVE

MARKETS & TRENDS

New insurance solutions to cover evolving exposures that businesses face
The global commercial insurance market was worth about USD 720 billion in premiums in 2016. The 10 largest markets mirror the world's biggest economies, and account for 73% of global commercial premiums. They include the leading industrialised countries of the G7 group, China, Australia and South Korea. The latest sigma study "Commercial insurance: innovation to expand the scope of insurability" is about the innovative risk transfer solutions available to cover the ever-evolving range of exposures that companies face. More



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Interviews

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Catherine HOCK
Vice-president
International Relations
ICMIF-International Cooperative and Mutual Insurance Federation
More than 900 million people worldwide are protected by mutual or cooperative insurers and when you also add on the millions of individuals in emerging countries who rely on informal, community-run insurance schemes, the true impact of these values-based insurers becomes apparent. In fact, our latest figures show the mutual insurance sector is the fastest-growing part of the global insurance industry since the onset of the global financial crisis and has almost 30% of the market.

INSURANCE & TECHNOLOGY

How technology impacts the insurance sector
How technology impacts the insurance sector
Rather than merely adding value to the insurance sector, technology and technical innovations are now determining its very growth and evolution. The last few years have seen mobile devices, GPS functionality and social media engagement impact hugely as to how insurance claims are processed by companies and policies assessed by insurance agents. Analysis of data and the value of legitimate customer interactions is more important than ever and have helped insurance companies to maximize profits while keeping the customers happy. More


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