Munich Re News

Swiss Re, Zurich Insurance in Talks With Watchdog on Virus Shock

Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the matter. The watchdog contacted Swiss Re AG, Zurich Insurance …

Natural Disaster Losses Decline After Major Storms Spare U.S.

Insurance losses from natural disasters fell last year after the U.S. was spared the full wrath of a major Atlantic hurricane. That’s according to the reinsurance firm Munich Re, which recorded total losses of $150 billion from events like hurricanes, …

Typhoon-Lashed Philippines Taps Catastrophe Bonds

The Philippines, among the world’s most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank. The dual-tranche transaction consists of a $150 million issuance against losses from, , …

Business News: FM Global Research Lab, Friss and Munich Re, MedRisk and Raintree

FM Global Expands Research Lab FM Global, an international commercial property insurer, had opened a electrical hazards and gas detection laboratory on its research campus in West Glocester, Rhode Island. The carrier said in a press release that the facility …

Growing Private Flood Market Will Test Claim Professionals

A nudge into the market by carriers offering private flood insurance is becoming more of a shove, which might bring new opportunities for claims adjusters and maybe create a more efficient claims process along the way. An executive for Munich …

Aviation Industry Expects Double-Digit Premium Hikes After 737 MAX Grounding

The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co’s 737 MAX jets following two fatal crashes, …

Fire and Hail Push Insurers to Rethink Climate Change Risks

LONDON — By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is …

Brokers Packaging Cybersecurity with Cyber Insurance

Insurance retailers are teaming up with tech wizards to sell cybersecurity along with cyber coverage as a means of trimming premiums and winning over customers in a vastly underserved market: small and mid-sized businesses. Coalition, a San Francisco managing general …

Business News: Greenlight Re, Ontellus, Munich Re

Greenlight Re Invests in Handdii Greenlight Re Innovations, a specialist property and casualty reinsurance company headquartered in the Cayman Islands, has investment in Handdii Pty Ltd., a property insurance claims fulfillment platform. Handdii, an insurtech based in Melbourne, Australia, provides …

CNA, QBE, Arcadia Settlements Make Personnel Changes

CNA Taps QBE Lawyer for General Counsel Post CNA has appointed Jose Ramon Gonzalez as executive vice president and general counsel. Gonzalez will serve as the principal counsel for the Chicago based carrier, responsible for legal affairs, compliance, regulatory and …