Insurance
Auto Insurance Claims Satisfaction at a Record High During Pandemic
Auto insurers used the decline in auto damage claims during the COVID-19 pandemic as an opportunity to refine their claims processes, and customers have noticed. According to the J.D. Power 2020 U.S. Auto Claims Satisfaction Study, the customer services improvements have led to record-high customer satisfaction. These improvements include ensuring that representatives are always immediately…
Read MoreIRS tightens settlement terms for micro-captive insurance schemes
The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions. Original Article Posted at : https://www.accountingtoday.com/news/irs-tightens-settlement-terms-for-micro-captive-insurance-schemes
Read MoreBusinesses Large and Small Need to Be Cyber Resilient in a COVID-19 World
By Loretta Worters, Vice President, Media Relations, Triple-I Advanced Persistent Threat groups and cybercriminals are likely to continue to exploit the COVID-19 pandemic over the coming weeks and months. Weak and stolen passwords, back doors, applications vulnerabilities, malware and insider threats have been among the most common causes of data breaches in the past. But…
Read MoreCat bond activity to pick up, issuance conditions attractive: GC’s Des Potter
Cat bonds are set to buck the trend elsewhere in the ILS market, with a strong issuance pipeline for Q4 2020 and Q1 2021. This is according to Des Potter, managing director ILS origination and structuring at GC Securities, part of Guy Carpenter, in an interview with Artemis. Encouraged by the firming of reinsurance and…
Read MorePartnerRe hires Hughes from Hiscox ILS as its CEO for Third Party Capital
PartnerRe, the Bermuda headquartered and EXOR owned reinsurance company, is set to make third-party capital an even more central component of its business model, with the hiring of Andrew Hughes from Hiscox ILS, who will take on the role of CEO Third Party Capital. Hughes worked as General Counsel and Chief Compliance Officer at Hiscox’s…
Read MoreAmerican Family returns for $150m Four Lakes Re 2020-1 cat bond
American Family Mutual Insurance Company has returned to the 144A catastrophe bond market for the first time since its two fated late 2010 Mariah Re deals, as the carrier seeks a $150 million or greater source of collateralized multi-peril reinsurance from a Four Lakes Re Ltd. (Series 2020-1) issuance. Back in late 2010, American Family…
Read MoreFidelis gets $275m of reinsurance from second Herbie Re cat bond
Fidelis is now set to secure $275 million of fully collateralised property catastrophe reinsurance from its second visit to the catastrophe bond market, as the Herbie Re Ltd. (Series 2020-2) issuance was priced at attractive levels and the sponsor seemed to value price over size in the end. Specialty insurance and reinsurance company Fidelis Insurance…
Read MoreArgo says catastrophes and COVID-19 losses to dent Q3 results
Bermuda headquartered international specialty insurance and reinsurance firm Argo Group expects third-quarter catastrophe events and additional contingency losses related to the COVID-19 pandemic will dent its upcoming results. Argo has pre-announced an estimated $54 million of natural catastrophe losses from the third quarter, which it says are primarily related to Hurricanes Hanna, Laura and Sally,…
Read MoreAlissa Fredricks plans ILS manager launch, focused on next-generation retro
Alissa Fredricks, the former CEO of Markel CATCo’s Bermuda operation, is planning to launch a new insurance-linked securities (ILS) fund manager, which to begin will have a focus on developing next-generation retrocessional reinsurance products. Fredricks has been working on the initiative for some months now and is approaching the key stage of due-diligence with a…
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