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.

A rise in demand for specialty insurance products

By Marc van der Veer, General Manager at PartnerRe Wholesale

According to figures from the European Commission, 99% of the six million plus insurable enterprises in Europe are considered SMEs, and the market offers plenty of opportunity for those firms seeking to take advantage of the growth-strapped P&C sector. This opportunity is all the more appealing when you consider that the market is scalable, despite its relatively low insurance saturation, and as such has the potential to be highly profitable.

A growing market

Last year, a study from the leading international market research company Finaccord, looked at the 10 largest European markets for insurable enterprises and Professional Indemnity (PI) – PI being a typical specialty product. Gross Written Premium in the PI market in these countries has grown steadily since 2009 at more than 2% per year with similar growth going forward expected through 2017.

While semi-bespoke P&C, or ‘off-the-shelf’, products can fulfil SME insurance requirements in the majority of cases, there are a number of Specialty products suitable for SME’s, notably PI, that are not offered by most P&C insurer’s.

We have already seen considerable international appetit...Read More

Driverless Cars: How will insurers be affected?

By Cherry Chan, Partner, Barnett Waddingham

On 30th July the UK Government announced that driverless cars will be permitted on public roads from the beginning of next year. Following US, Japan and Germany, who have already trialled driverless cars, three UK cities will be chosen to trial the autonomous vehicles for a minimum of 18 months. The technology is ready but what effect will the uptake of these autonomous vehicles have on insurers?

Reduction of accidents vs increase in claim size
There are over 1,700 fatalities and 180,000 other injuries resulti...Read More

Insurers are warned to innovate or perish

According to Aon,“many of the risks that businesses list as their most pressing are uninsurable within current policy structures, which is both disappointing and cause for real concern. To remain sustainable and support clients, the risk industry must find ways of staying relevant as traditional risks get bigger and non-traditional risks pose new threats.”

Lambros Lambrou, CEO for Aon Risk Solutions in Australia, made these comments in the wake of this year’s Aon Advanced Risk Finance Conference, while warning that the future of risk financing will look very different from that of the past.

“Our industry is...Read More

"Generation Lost" speaks - Global Risks Report 2014

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Lifestyle Actuary

The trappings of fast paced city lifestyles rarely take into account the charm and elegance that a room, a dinner or a cup of tea can afford; characteristics lost to a by-gone era of debutante balls and black tie for dinner.

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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