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Willis Towers Watson has around $5 billion of capital which could used for acquisitions, its president and incoming chief executive said on Thursday, as the insurance broker prepares for a future as a standalone company.
Property and casualty reinsurers have displayed underwriting discipline during this year’s renewals, continuing with rate corrections that began several years ago, despite the pressures of abundant capacity. Prices continued to harden during the first half of 2021 – albeit with slightly less momentum than last year – in a trend that will likely continue into the January 2022 renewal season.
Last May marked the 229th anniversary of the Buttonwood Agreement, which organized securities trading in New York, laying the groundwork for what would become the New York Stock Exchange.
Cloud computing will become a common technology in the insurance industry over the next decade, surveys by Sollers Consulting show. Robotic Process Automation (RPA) is seen as more important in the market than Artificial Intelligence and Machine Learning, while Telematics and the Internet of Things are weighted comparatively low.
The malicious nature of cyber criminals has prompted cyber insurance carriers to implement new guidelines for clients.
The COVID-19 pandemic continues to cause upheaval in our business and personal lives in North America and around the world.
The credit-based insurance score has not gone without challenges over the years, but 2020’s protests over police brutality have pushed more industry figures to look for alternatives. At issue is the legacy of structural racism that has hindered economic opportunities for communities of color and led to disproportionately lower credit scores among them.
Major U.S. insurers are joining new digital exchanges to sell not only their own policies but those of their competitors as well, a new twist in an industry known for its fierce competition.
There can be little doubt that COVID-19 has accelerated the move to a digital-first society, forcing many more traditional organisations to fast-track their data and digitisation journeys.
Cybersecurity start-up ActZero has announced a strategic partnership with cyber insurance provider Zeguro to create a cyber risk management program for small and mid-sized businesses.
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