Volatile weather activity is increasing around the world as evidenced by recent major events, such as typhoon Haiyan in the Philippines or flood Cleopatra in Sardinia.
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The International Insurance Society (IIS) has announced the candidates for the 2014 Insurance Hall of Fame, the premier industry award.
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Global insurance industry executives ranked a global pandemic, a large-scale natural catastrophe and a food/water/energy crisis as the three most important extreme risks for the insurance industry to worry about in the long term, according to a survey conducted by Towers Watson.
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North of England P&I Association (North) and Sunderland Marine Mutual Insurance Company Limited (SMMI) are entering into a merger framework agreement which, if accepted by members, will result in the creation of one of the world's largest marine insurance operations in early 2014.
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The Geneva Association's Secretary General, Mr John H Fitzpatrick, has decided not to stand for re-election at its next General Assembly in May 2014. Mr Fitzpatrick was elected to a two-year term in June 2012.
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Political risk and macroeconomic instability rank neck-and-neck as top concerns for investors as they plan over the short and medium terms, according to a survey conducted for the report, "World Investment and Political Risk 2013" and published by the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group.
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The Global Federation of Insurance Associations (GFIA) is strongly supportive of the idea of a new Trade in Services Agreement (TISA) consistent with GATS (General Agreement on Trade in Services) rules, said GFIA Chairman Frank Swedlove.
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