Blogs

Jeudi, 06 December 2018

Although we live in an increasingly globalised society, insurance and the regulation of insurance remain a long way from the conception of a globalised industry as proposed by Levitt’s 1983 essay, “The Globalization of Markets” (Harvard Business Review), which suggested standardisation and convergence to be essential for successful businesses and markets.  Certainly, insurance has relied on the risk-smoothing effects of cross-border reinsurance to boost its robustness and resilience since long before the advent of the term “globalisation” in the 1930s, but two key characteristics of risk – complexity and evolution – will continue to...

Mercredi, 07 novembre 2018

The below blog was published on the Willis Towers Watson Wire website on 24 October 2018. It was written by Francis Kean, Executive Director in Willis Towers Watson's FINEX Global, is reproduced here for the benefit of our members with the kind permission of ICMIF Supporting Member Willis Re.

The acronym FSB probably conjures up for you the Federal Security Service of the Russian Federation, but it also stands for the less well known Financial Stability Board. This is a body established to coordinate at an international level, the work of national financial authorities in order to develop and promote the implementation of...

vendredi, 26 Octubre 2018

Este año, Argentina asume la presidencia del G20 y este año se llevó a cabo un Foro de Seguros del G20 por primera vez en septiembre en Bariloche, Patagonia.

Cuatro organizaciones miembros argentinas de la ICMIF, Sancor Seguros, La Segunda, San Cristóbal y ADIRA apoyaron el proyecto y ayudaron a organizar el Foro. Alejandro Simón (a la derecha en la foto), CEO de Sancor Seguros es uno de los cuatro Copresidentes del Comité Ejecutivo del Foro y habló durante el evento. Alejandro Asenjo, en colaboración con Simón, describe las experiencias del Foro de Seguros del G20 para nosotros en este blog invitado.

La experiencia debemos...

vendredi, 26 Octubre 2018

This year Argentina holds the G20 presidency and a G20 Insurance Forum took place this year for the first time ever in September in Bariloche, Patagonia.

Four Argentinian ICMIF member organisations Sancor Seguros, La Segunda, San Cristóbal and ADIRA  supported the project and helped to host the Forum. Alejandro Simón (seen on the far right of this picture), CEO of Sancor Seguros is one of four Co-Chairman of the Forum’s Executive Committee and spoke during the event. Alejandro Asenjo, in collaboration with Simón, describes the experience of the G20 Insurance Forum for us in this guest blog.

Our experience of the G20...

Mercredi, 03 Octubre 2018

There is significant growth potential for cyber security insurance products in Europe, according to an August study by the European Insurance and Occupational Pensions Authority, although many market challenges and issues remain.

The report, “Understanding Cyber Insurance – A Structured Dialogue with Insurance Companies,” points out that most earlier studies focus on either the United States or global cyber markets, rather than specifically looking at the European environment. After all, upwards of 90 percent of cyber insurance policies are sold to Americans and as little as 5 percent of premiums come from Europe.

The...

lundi, 30 July 2018

In January, Dave Ingram, Executive Vice President, wrote about 2018’s most dangerous risks for insurers, highlighting what more than 200 insurance managers cited as the top 10 risks to watch for the year. Now that we’re midway through 2018, Dave has taken a step back and reviewed what’s now trending based on Willis Re’s research and what adjustments insurers might need to make to their risk assessments. Dave’s article is reproduced here for the benefit of our members with the kind permission of ICMIF Supporting Member Willis Re.

Here’s a midyear review of the risks noted in January:

1. Cybersecurity and cybercrime: While...

lundi, 16 July 2018

Mark McLaughlin, Global Insurance Director at IBM, was interviewed by A.M. BestTV at the Meeting of Reinsurance Officials 2018 in Montreal. A.M. BestTV delivers A.M. Best’s coverage of the insurance industry in a television-quality format. In this interview with John Weber of A.M. Best TV, Mark describes how insurers and insureds benefit from four main changes happening in the insurance industry. The transcript of the interview was shared as a blog by IBM here and is shared for ICMIF members below.

A.M. BestTV: What do see as some technological changes taking place in the insurance industry?

Marc McLaughlin: I think there...

vendredi, 15 juin 2018

Grandiose royal weddings like the nuptials of Prince Harry and Meghan Markle.

The birth of babies like Prince George, Princess Charlotte and the newest member of the Royal Family, Prince Louis.

When most Americans think about the British Royal Family, events like these are the first things that come to mind. However, as Securian Financial’s Executive Vice President and Chief Financial Officer Warren Zaccaro can attest, the duties of the Royal Family go far beyond the pageantry and celebrations.

Warren and 10 other U.S. CFOs met recently with Charles, The Prince of Wales and heir apparent to the British throne, on The...

Jeudi, 07 juin 2018

“There is no planet B” was a widely used slogan in the run up to the COP 21 United Nations (UN) Climate Change Conference in Paris in 2015. The slogan was aimed at focusing the minds of those in governments around the world on their ever-stretched public purses and budgets and on the need to act on climate change and its potential consequences. At the Conference almost 200 countries agreed to cut carbon emissions to ‘well below’ 2 degrees Celsius above preindustrial levels and to pursue efforts to keep them to 1.5 degrees to prevent dangerous climate change.

Scientists agree unequivocally that the world is warming. This creates...

Jeudi, 10 Mai 2018

As technology continues to transform virtually all aspects of the insurance industry, the potential impact is of especial interest for mutual insurers, insurance cooperatives and other member-owned insurance companies around the world. Like all insurance companies, the fundamental change that technology is having on the insurance value chain is disrupting the existing operating models of mutuals/cooperatives, and leading to a need to innovate, adapt and update their organisational capabilities.

Today, the majority of mutual and cooperatives, like stock companies, are looking to invest internally in new technology, such as advanced...

Pages