Lloyd’s of London highlights reputational risk and regulation as top concerns for insurers

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Survey suggests insurers are vexed by increasing risks Lloyd’s of London, one of the world’s largest providers of insurance and reinsurance, has released the results of its latest survey concerning the global insurance industry. The survey indicates that many of the world’s leading insurance executives are becoming increasing concerned with reputational risk and insurance regulations. These concerns are spurring new actions from insurance companies, including the offering of new policies and, in some cases, the abandonment of some markets or refusal to provide coverage to controversial organizations. Stricter regulations pose…

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Insurers pulling out of markets in the wake of natural disasters

The natural disaster rate climbs as industry reevaluates high risk areas. Natural disasters seem to be happening more regularly, a fact that the global insurance industry is becoming uncomfortable with. In terms of insurance, powerful storms and weather-related catastrophes are becoming more commonplace. As such, insurers are feeling the pressure of increased liability and the potential for steep financial losses in the wake of a catastrophic event. There is a strange trend gaining momentum in the industry today, which is spurred by the severity of recent natural disasters. Insurance markets…

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New Towers Watson study warns that insurance prices could be rising amidst a flat market.

A new study from Towers Watson, a worldwide professional services firm, has found that prices for commercials insurance have remained the same for the ninth successive quarter. Overall, prices for commercial property and management liability lines have decreased over the past two years. Workers compensation, however, saw a steep increase in the first quarter of this year. The study also finds that prices for other commercial lines of insurance have been steadily increasing. The director of Towers Watson’s Property & Casualty practice, Bruce Fell, notes that the increases in workers…

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