General Insurance news and articles written by acturies for actuaries - read the latest research pieces, today's news and latest articles in the non-life market.

Collaboration must form basis of regulatory reform

By Michael Wainwright, Partner at Eversheds LLP

As part of its ‘Regulation in the City’ report international law firm Eversheds canvassed the opinions of 200 senior City executives, including those working in the insurance sector, on the ongoing reform of the City’s regulatory framework. While the City is broadly in favour of compulsory regulation, the general view is that the current uncertain international regulatory landscape creates a problematic working environment. Michael Wainwright, partner at Eversheds LLP, highlights the key findings.

The financial services sector around the globe is facing a changing regulatory landscape, with the consequences of proposed UK, EU or US reforms currently on the minds of many City businesses that operate across borders.

The main concern is the perceived lack of ‘joined-up’ thinking between UK, EU and US regulatory regimes as they set about reviewing existing legislation. This is placing increasing pressures and costs on businesses as they try to satisfy the demands of three regulatory authorities, each with separate remits, with the resulting confusion making it more complex for actuaries to ascertain levels of risk.

The City’s insurance sector acknowledges the requirement for tight control, with 94% in...Read More

Making insurance sustainable

By James Wallace, RSA Group Head of Corporate Responsibility

Insurance is based on the fundamental principle of protecting risk and for many years the industry has been helping customers to manage against it. Insurers are always looking for ways to manage new and emerging risks and, in recent times, the issue of changing environment has been given top billing by many in the industry. As insurers have seen an increase in weather related claims, sustainability is rising up the agenda.

Sustainable development is loosely defined as not using more resources than the environment is able to sustain. It is about trying to achieve a balan...Read More

Re-thinking Climate Change is a rich source of Innovation

By David Bresch, Head Sustainability, Swiss Re.

When we talk of climate change, we tend to think of the frightening scenarios of melting ice-caps, rising sea-levels, growing carbon emissions and the like. However, the last decades of climate research have been a great source of innovation for insurers, the renewable energy industry, NGOs and governments. For example, the renewable energy industry is proving a rich breeding ground for innovative climate change mitigation technologies and the means of implementing them. Expertise in risk modeling and scenario-building is identifying cost-effective climate adaptation measures globally, and surprisingl...Read More

The Energy Buzz from RIMS

Latest Insurance News

Lifestyle Actuary

With pension provision being very much in the spotlight today, being a pension fund trustee is not easy. Indeed, this is particularly true with regard to the investment aspects of trusteeship, with its many nuances and often mystifying jargon and ter...Read More

The Luddite

Sony has posted record losses of £4bn in its last fiscal year. It also reported that it would eradicate around 6 percent of its workforce worldwide, which represents a figure of around 10,000 jobs. New CEO Kazuo Hirai announced on the same day that t...Read More

Travelling Actuary

Last year the disastrous Greek economy made consistent headline news, and is still an on-going concern. This month, Traveling Actuary Eve Hartridge reviews the Greek Island of Kefalonia, where the attitude is very much business as usual.

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