Tag: European insurance

European insurance watchdog seeks to protect policyholders from no-deal Brexit

H. Cutner
No-deal Brexit - UK and EU puzzle pieces

E.U. policyholders wonder if their protection will continue when they’re covered by a U.K. insurer. Policyholders in the European Union feel uncertain as to whether their coverage through British insurance companies will continue uninterrupted in the case of a no-deal Brexit. The E.I.O.P.A. assures E.U. consumers that their policies will remain valid even with a hard Brexit. With only just over a month before the United Kingdom leaves the European Union, consumers are taking a closer look at what a no-deal Brexit will mean to them. As a result, some…

Read More

European insurance companies seek to reduce risks from CO2 and coal

H. Cutner
European Insurance companies - Focus on Europe

The sector is creating its own plan in the name of climate change and cutting back on its risks. European insurance companies are boosting their investments in green energy at the same time that they’re letting go of certain carbon intensive businesses. This move is being made for the purpose of doing their part to cut back on risks associated with climate change. This move was announced at the same time that 200 countries meet in Poland to discuss climate initiatives. As a growing number of countries around the world…

Read More

Environmental liability insurance system rejected in Europe

Julie Campbell
environmental liability insurance

The European insurance and reinsurance federation has decided that compulsory coverage would not be beneficial to consumers. Insurance Europe, the European federation for insurance and reinsurance coverage, customers would not be able to benefit from a compulsory form of environmental liability insurance system, and for that reason, it does not recommend the introduction of that type of program. This federation is made up of thirty four different members across Europe’s national associations. According to a statement from the federation, “An EU-wide compulsory environmental liability insurance system would not benefit customers…

Read More

Insurance news announcement from Europe works to counterbalance low interest rate risk

europe insurance news industry

EU watchdog is now calling for a joint effort to help to counter the risks presented by the rates. The latest insurance news in the European Union includes a call from the insurance watchdog for a joint action among all of the national regulators for helping to counteract the negative impact that the low interest rates are having on the financial security of insurers. This will help those companies to be able to protect policyholders more effectively and at a lower cost. This topic has been making insurance news for…

Read More

Insurance industry in Azerbaijan predicts considerable growth this year

Azerbaijan insurance industry

The market in the Eurasian country is expected to grow by 15 to 20 percent in 2013. According to a statement that was issued by Namiq Khalilov, the head of the State Service for Insurance Control of the Azerbaijan Finance Ministry, the insurance industry in the country is expected to experience considerable growth again this year. He explained that it should grow by another 15 to 20 percent in 2013 alone. Khalilov feels that the insurance industry in Azerbaijan will continue this growth, regardless of the fact that it already…

Read More