A report by the Geneva Association published this week has indicated that Insurers and Reinsurers are likely to play a mammoth part in rebuilding and restructuring the faltering global economy.
The report ‘Systemic Risk in Insurance’ has required the international think tank – which largely focuses on the insurance industry, to analyse the role of insurance in financial stability.
It would seem that the report is designed with the clear goal of raising awareness of the industry’s need to no longer be shoehorned in with other financial sectors, such as the much maligned banking sector.
It will certainly go some way to ensuring the industries voice is heard in key debates across Europe and globally, discussing how to move forward from what many fear could be the worst recession in living memory. Read the rest of this entry »
Posted by doni | Posted in Other | Posted on 10-05-2010
The tough economy has led to a decrease in the number of vehicles rated total losses after a crash, according to a provider of collision data processing systems used by insurers and body shops.
That finding was one of many in the latest Industry Trends Report produced by San Diego-based Mitchell International.
Mitchell also noted a reduction in crash damage appraisal values, collision losses and third-party property damage. At the same time, the firm found an increase in use of after-market and remanufactured parts and higher costs for repair materials and labor. Read the rest of this entry »
Posted by admin | Posted in Uncategorized | Posted on 04-02-2010
It was only within a day or two of the Haiti earthquake that reports warned about charity scams that claimed to be collecting money for Haitian relief.
Scams have always dogged the insurance industry, too.
A.M. Best recently reported on a ”faux” travel insurance company in Florida that operated without an insurance license. Florida officials intended to shut down Prime Travel Protection Services. Read the rest of this entry »
Posted by admin | Posted in Other | Posted on 22-01-2010
