Insurance industry backing financial integration in the European Union

EU Insurance Plan

EU continues to enact dramatic changes with the help of the insurance industry The ongoing financial crisis gripping Europe has been a subject of major concern around the world. The crisis has serious implications for the global economy, which could be severely impacted if the European Union cannot find a solution to the ongoing problem. The EU has turned to the global insurance industry, suggesting that insurance could be a way to solve the problems facing many of the countries facing economic troubles. In this case, insurance coverage is being…

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

Insurance Industry News Deal

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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European insurance stops using gender to determine rates

According to the main insurers’ lobby in Europe, the CEA, a new regulation will be causing european insurance customers to have to pay up to 30 percent more for their coverage. The regulation stops insurance companies from being able to charge different rates for men and women, and it will come into effect in 2012. On average, women will face the largest increases. According to the CEA, which was discussing the findings of research commissioned by the GDV, a German insurance industry association, women will on average be paying 30…

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