Willis Re, the reinsurance division of Willis Group Holdings (NYSE: WSH), has released their stimulating report “Shaken and Stirring”. Stirring is an understatement. The report shows that with the devastation in Japan, New Zealand, Chile and the Australian floods is still not enough to bring a hard market into play. The report finds that there has been rate increases on Natural Catastrophe Excess of Loss of between 5 and 50 %, but the recent massive earthquakes in Japan and New Zealand’s South Island are not significant to push market-wide pricing up.…
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FERMA petitions Brazil to rethink new insurance regulations
The Federation of European Risk Management Associations (FERMA) is calling upon the Brazilian government to make changes to new insurance regulations, claiming that they will threaten the ability of insurers to provide coverage for large commercial industries as well as drive up the cost of coverage. The regulations are scheduled to take effect by the end of the month, which has incited FERMA to take such an unusual step in appealing the government on behalf of its members. The regulations to be enforced in Brazil include provisions that would prohibit…
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