Demand for terrorism insurance is on the rise

Terrorism Risk Insurance industry

Paris attacks highlight the potential value of adequate insurance coverage In the wake of the November 13 attacks in Paris, France, the demand for terrorism insurance may grow. Several businesses have struggled to recover following the attack, which left Paris in a state of emergency, and these businesses may be able to find some solace through the claims they issue to their insurance providers. They may also find some support through a special state-backed fund that was established in France in 2011. Terrorist attacks are becoming a major concern for…

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Insurance industry sees a decline in insured losses in 2013

insurance industry

Swiss Re report shows that insured losses in 2013 were lower than what they were in 2012 Swiss Re, a leading reinsurance firm, has announced that the global insurance industry has seen losses from natural disasters and man-made catastrophes fall by 44% in 2013. A calm hurricane season help insurers avoid significant losses, but powerful storms in Europe had a significant impact on the insurance industry. Despite this impact, however, insured losses industry-wide were less than what had been seen in 2012. As such, the insurance industry is expected to…

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Cameleon Software signs deal with MMA Group

Insurance Industry News Deal

Cameleon Software chosen to help MMA Group adapt to changing insurance market Cameleon Software, a leading developer of configure price quote (CPQ) software, has signed a major deal with the MMA Group, the third largest insurance group in France. Per the deal, the MMA Group will be making use of the CPQ technology developed by Cameleon Software. The MMA Group has chosen Cameleon Software because of the robustness of the company’s CPQ solution. The insurer expects that the technology will help it become more “agile” in handling the needs of…

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AIR Worldwide Updates European Wind and Earthquake Catastrophe Models

MONTE CARLO, Sept. 12, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released updates to its Extratropical Cyclone and Earthquake Models for Europe. Both models were significantly expanded to include additional European countries and provide a consistent and comprehensive assessment of the extratropical cyclone and earthquake risk throughout Europe. “AIR Worldwide offers complete and robust extratropical cyclone and earthquake models for Europe,” said Dr. Jayanta Guin, senior vice president of research and modeling at AIR Worldwide. “With the expanded regions and enhancements to these models, insurers and reinsurers now…

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