The Marketplace For General Business Insurance News Debate Opinions Reviews
General insurance or non life insurance covers help business leaders with managing business risk. Our business risk general insurance experts will help you manage risk in business better and grow your business with less uncertainty.
Commercial Business Insurance Experts Online Forum
Pick up tips advice and support to protect your business better more profitably
- Join our live commercial general insurance QandA sessions online
- Read commercial insurance articles for latest insurance news opinions and reviews
- Pick up expert risk management advice and apply it in a practical way to your business.
General insurance experts from across the insurance industry around the world have probably already solved your commercial business insurance problem or uninsured business risk problem.
Buying cover against business risk is not difficult, but making sure you have the best insurance programme at the best price is more difficult. Protect your business better with input from BusinessRiskTV general business commercial insurance experts regardless of what kind of business you have.
5th December 2018 AIG Already In Fourth Quarter 2018
American International Group AIG has suffered estimated losses of between 750 million dollars and 800 million according to its CEO.
AIG is seeking a more balanced risk underwriting plan than may have been evident in recent years. It is still on track to make a profit taking into account premiums losses and investment returns.
Major AIG losses include
- Reinsurance for California wildfires
— Risk Manager (@ERMuk) October 22, 2018
19th November 2018 Insured Losses From The Camp and Woolsey Wildfires In California To Cost Between 9 and 13 Billion Dollars
According to risk modelling company RMS the insurance bill for these wildfires will run up to 13 billion dollars. The Camp Fire alone is expected to present the largest insurance repair costs in additional to the shocking loss of life. More than 13600 homes and other structures have been damaged in the Camp Fire in California USA.
7th October 2018 Lloyds of London To Open Office In Brussels As Part Of Brexit Contingency Plans
Chief executive of insurance market Lloyds of London Inga Beale is moving on but has told BBCs Andrew Marr that Lloyds insurance market is accelerating Brexit contingency plans to transfer contracts to a Brussels subsidiary as she feel Britain is getting closer to leaving the European Union without a deal.
21st March 2018 Lloyd’s Of London Makes A Loss
Lloyd’s of London insurance marketplace revealed losses of £2 billion in 2017 against pre-tax profits of 2.1 billion pounds in 2016. This was the insurance market’s first loss for 6 years and includes significant losses from several natural disasters occurring in 2017.
5th March 2018 Insurer AXA Agrees To Buy XL Group For £15 Billion
AXA is Europe’s second biggest insurer (market capitalisation) and has agreed to buy Bermuda-based XL Group in a deal which AXA said would create a world leader in property and casualty insurance.
AXA has reported higher than expected net 2017 profit of 6.2 billion euros for 2017.
2nd March 2018 Nippon Life To Buy Majority Of MassMutual Japan Unit
Nipon Life Insurance to buy 85 percent of MassMutual Financial Group for nearly a billion dollars if it receives regulatory approval. Nipon Life Insurance is Japan’s biggest private-sector life insurer.
26th February 2018 Zurich Insurance Buys QBEs Latam Business $409 Million
22nd February 2018 RSA Profit Better Than Expected
RSA full year operating profit for 2017 was £663 million compared to forecast £639 million.
RSA shareholders have been promised a bigger share of RSAs success in 2018. Higher dividends have been promised in 2018.
RSA CEO says that 2018 performance should give RSA the room to boost dividends to shareholders plus a bonus dividend.
Some downside risk was experienced in USA due to hurricanes in USA and Caribbean and Mexican earthquakes. RSA and the insurance market are bumping up insurance premiums to counter increased natural disaster hazard in 2018.
RSA is still vulnerable to takeover, but the improving performance and associated share price will mean any aggressive predator will now need deeper pockets. That said an approach from a foreign company could happen based on the value of the pound if the timing was right for the attack.
22nd January 2018 Cost Of Motor Insurance Falls
UK fourth quarter motor insurance premiums fell according to a survey by insurance broker Willis Towers Watson. However annually, motor insurance premiums rose 8 percent in 2017 calendar year.
The trend is for reducing motor insurance premiums in the UK, due to a change in the way personal injury lump sum payments are calculated. Effectively, motor insurers will pay out less for personal injury lump sum payments.
13th February 2017 Ex-AIG CEO Admits Accounting Fraud
Maurice Greenberg admitted to his involvement in two fraudulent reinsurance deals. Mr Greenberg will pay 9 million dollars to the State of New York as part of the agreed settlement. In addition he will return the multi-million bonuses he received while the frauds were on AIG’s books. Greenberg was asked to stand trial for the alleged accounting fraud with another AIG executive CFO Howard Smith. The fraud misrepresented AIGs actual financial position.
3rd February 2017 Motor Insurance Premiums Hit Record High In UK
According to the Association of British Insurers car insurance premiums in the UK have reached record high of 462 pounds on average for comprehensive cover. Increased cost of parts due to the fall in the value of the pound crash 4 cash claims increased premiums tax and increased electronic sophistication have been blamed for increase costs of claims and therefore premiums.
10th January 2017 Royal and Sun Alliance RSA Fined 150000 pounds
The fine imposed by the Information Commissioner’s Office ICO was for the loss of personal information of nearly 60000 customers due to the theft of a hard drive device from an office in West Sussex including names addresses and bank account details. The ICO found that the RSA did not have appropriate measures in place to protect financial information from theft. The hard drive was stolen by a member of staff or a contractor and the info was not encrypted.
General Insurance Advice Centre
Employers public and product liability insurance property and business interruption insurance motor accident and all risks insurance
- Do not pay for cover you do not need
- Do not leave gaps in your insurance programme
- Obtain impartial general insurance advice for your business in the UK.
Find affordable general insurance solutions the work well for your corporate business needs. Do you need general insurance advice?
Speak online to general insurance industry experts
Reduce the total cost of risk too your business.
BusinessRiskTV Insurance Experts
Access latest general insurance news opinions risk analysis and reviews or promote your general insurance business. BusinessRiskTV and its business partners will contact you regarding general insurance.