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Daily NewsFlash : July 18, 2013

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Thursday, July 18, 2013

Lloyd's May Again Look Outside Insurance for CEO to Replace Ward, Market Watcher Says

LloydsAs Lloyd's seeks a new chief executive to replace the departing Richard Ward, it may be tempted, once again, to look outside the insurance industry, according to Clive O'Connell, a partner in the London office of New York-based law firm Goldberg Segalla.

Lloyd's has flourished during his tenure, O'Conn...

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Companies See Extreme Weather, Climate Change as Growing Business Risk

Extreme WeatherMost major companies see extreme weather and other climate change impacts as current or near-term business risks, but lack the data and tools needed to effectively assess and manage these risks, according to a report released today by the Center for Climate and Energy Solutions (C2ES).

The report, ...

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Connecticut Insurance Companies Required to Participate in Climate Risk Surveys

CT Insurance Dept - climate changeConnecticut Insurance Commissioner Thomas B. Leonardi today announced that Connecticut-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary report by the National Association of Insurance Comm...

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U.S. Federal Judge Calls S&P Defense "Deeply and Unavoidably Troubling"

S&PIn a ruling allowing the Justice Department's $5 billion lawsuit against Standard & Poor's Ratings Services to move forward, a U.S. district judge said the rating firm's "puffery" defense is "deeply and unavoidably troubling."

U.S. District Judge David O. Carter for the Central District of California ...

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Marsh and Allianz Global Corporate & Specialty Announce Major Claim Promise

Marsh-Allianz claimsAllianz Global Corporate & Specialty (AGCS) and Marsh today announced the launch of the AGCS/Marsh Major Claim Promise, committing to provide rapid access to working funds for their joint clients in the event of a major claim. As well as covering major property,

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Insurance Claims from Hail-Storm Damage Increased 84% in 2012 from 2010

Hailstorm claimsInsurance claims from hail-storm damage increased 84 percent in 2012 from their 2010 level, the National Insurance Crime Bureau reported on Wednesday. The agency warned against fraud related to contract work after storms.

There were 861,597 claims in 2012, up from 689,267 in 2011 and 467,602 in 2010...

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Corporate HR and Finance Executives See More Collaboration in Their Future: Towers Watson Survey

Towers Watson SurveyHuman resource (HR) executives and their finance counterparts believe a stronger partnership is in their future, especially when it comes to helping their organizations boost performance and improve their return on investment in people. The two functions agree on many people- and performance-related...

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Willis: Downward Slide in Airline Insurance Premiums Set to Continue Unabated

WillisThe first half of 2013 has seen no change in the downward direction of insurance premiums in the airline market and the balance of power remains firmly in the hands of buyers, according to the Q2 Issue of Airline In...

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