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Insurers attempt to dodge $143mn tunnelling claim

Eight international (re)insurers have asked New York's Supreme Court to rule that they are not liable for a $143mn repair bill for the world's largest tunnelling machine.

Dan Ascher, 24 August 2015
Willis facing explosive negligence dispute

The Texas office of global broker Willis is facing a multi-million-dollar negligence suit after an insurer refused to pay out following a botched demolition in California.

Dan Ascher, 24 August 2015
AIG set to appeal landmark PI judgment

American International Group (AIG) has confirmed that it plans to appeal a ruling against the group in a landmark professional indemnity (PI) case.

Dan Ascher, 24 August 2015
Harassment claims surface in Gallagher dismissal suit

A former Arthur J Gallagher (AJG) senior vice president is suing the broker and an alleged member of the Gallagher family for at least $12.5mn, claiming she was sidelined for reporting a number of sexual harassments.

Dan Ascher, 24 August 2015
Firms continue to be challenged by pillar 3 of SII

Insurers are extremely concerned with last minute requirements being made of them ahead of Solvency II implementation on 1 January, according to a survey from industry trade body Insurance Europe.

Winifred Okocha, 24 August 2015
Australian insurers warn against cat reinsurance pool

IAG has entered the debate about whether the Australian government should establish a reinsurance pool as a way of reducing household insurance costs for cyclone-prone regions in Northern Australia.

Winifred Okocha, 24 August 2015
Majority of UK insurers underprepared for Flood Re

Almost three quarters of insurance market participants believe they are underprepared in key areas relating to the UK's Flood Re initiative, according to a survey conducted by EY.

Winifred Okocha, 24 August 2015
Direct lending and alternatives: the future of investment?

European insurers' investment portfolios will become more diversified in the coming months, as low returns and non-investment profits come under pressure, according to AM Best.

Charlie Thomas, 24 August 2015
Carriers look to capital management amid thinning opportunities

Capital management remained firmly on the agenda for Bermudian and short-tail carriers during the second quarter as market headwinds continued to erode profitable growth opportunities.

Himal Patel, 24 August 2015
Aviation rates fall 13% in July: JLT

Aviation insurers received no respite during the mid-year renewals as aviation rates saw double-digit declines at the sector's most significant renewal period of the year so far

Catrin Shi, 24 August 2015

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