Premiums set to grow throughout the insurance industry

International Insurance Industry

Swiss Re reports on the state of the insurance industry Swiss Re, a leading global reinsurance firm, has released a new report concerning the state of the insurance industry and the cost of coverage. The global insurance industry has been seeing a great deal of activity recently, some of which has been considered somewhat negative. The negative issues that the industry has had to deal with are largely associated with powerful natural disasters that have occurred in some parts of the world in recent months. The report shows that natural…

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Insurance industry communication tech is antiquated

mobile phone video insurance industry technology

According to a recent report, companies and organizations are using old technology for communicating. According to a report that was sponsored by GMC Software Technology, many companies throughout the insurance industry aren’t supporting modern communications either within their own organizations or for interaction with their customers. This, despite the fact that these same companies feel that multichannel communication is a priority. The survey involved the participation of 90 different insurers and was conducted by Forrester Research. It placed its focus on communication between companies in the insurance industry and their…

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Insurance industry report finally delivered by the Federal Insurance Office

Insurance Industry

Federal Insurance Office released long-awaited insurance industry report The U.S. Department of the Treasury‘s Federal Insurance Office has released a highly anticipated report concerning the insurance industry. The report was initially scheduled for release in January of 2012, but this release was delayed in order for the Federal Insurance Office to take better account of emerging trends in the insurance industry and provide better insight on how the industry has evolved over a relatively short period of time. The agency is tasked with providing these types of reports on an…

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Insurance industry could be massively impacted by large space weather event

insurance industry electrical network disruption space weather event

Lloyd’s of London has released a report cautioning that a massive electricity network interruption could occur. According to a new report from Lloyd’s of London, the insurance industry in North America could be highly affected by a severe space weather event, as it could lead to a massive electricity network disruption throughout the continent. The report was called “Solar Storm Risk to the North American Electric Grid” and was released as a caution. It expressed that the insurance industry could find between 20 to 40 million Americans at risk of…

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Lloyd’s estimates risks solar storms pose to insurance industry

Insurance Industry News - Solar Flare

Insurance industry may not be suited for powerful solar storms Lloyd’s of London has released a new report concerning the emerging risks associated with powerful solar storms. A solar storm is produced by solar flares and coronal mass ejections that are directed in the general location of the planet. Typically, such events present no significant threat to the world as they are relatively rare and not directly targeted at earth. According to Lloyd’s, however, a direct hit from such an event could have cataclysmic consequences, especially for the insurance industry.…

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