Insurance Research Letter – February 2018

Insurance Research Letter – February 2018

Lead article2017 Was the Costliest Year to Date – Here’s Why

“In 2017, there were 16 weather and climate disaster events with losses exceeding $1 billion each across the United States. These events included 1 drought event, 2 flooding events, 1 freeze event, 8 severe storm events, 3 tropical cyclone events, and 1 wildfire event. Overall, these events resulted in the deaths of 362 people and had significant economic effects on the areas impacted.”

According to NOAA data, 2017 became the costliest year to date, surpassing 2005, the year of Hurricane Katrina. Previously, 2005 topped the chart with $215 billion in losses. Hurricanes Harvey, Irma and Maria helped propel 2017 to a total of $306 billion in losses. Harvey created the most financial damage, resulting in nearly 41 percent of the total yearly cost, or $125 billion. Login to read more….

February 2018 edition of the Insurance Research Letter  – subscriber login

Feb 2018 Index – ISSN #2165-2740 Vol. 21, No. 2

Editor’s Letter

  • US Tax Reform & International tax code changes
  • More reasons to read the Back Page

News Quizzical

Synopsis

Companies

  • NewsBriefs: AIG, Chubb, Lloyd’s
  • People: Berkshire Hathaway, Chubb, Zurich

Agent, Broker, Consultant & Risk Manager News

  • News:  Aon, JLT Specialty
  • People: Dual, JLT, JLT Specialty, Ryan Specialty Group

Global Briefs – Brazil, India, Indonesia, The Netherlands, UK & USA 

Looking Back – from the pages of the Insurance Research LetterFebruary 2008 

Americas

The United States

  • 2017 Was the Costliest Year to Date – Here’s Why – Hart S. Brown, Firestorm
  • How Data Analytics Mitigates Organizational Risk and Claims – Michael Palmich, ProcessMAP
  • A CISO perspective: 5 key considerations for defending your business against cyber threats – Matt Palmer, Willis Towers Watson

Europe

Germany

  • 2017 results above expectations, stable evolution forecasted for 2018 – Daniela Ghetu, XPRIMM

The Back Page

  • Quizzical solutions –
  • Of Interest
  • Notable Quotes
  • Do you know?
  • Words and Definitions to help insurance professionals – Debris Disposal Costs for Buildings
  • International Employee Benefits Resources and links

Useful Links to Expert Commentary

Tanzania insurance update

Tanzania insurance update

Tanzania – dealing foreign insurers and reinsurance brokers

In the January issue of the Insurance Research Letter there is a report on conditions for dealing with foreign reinsurers and reinsurance brokers in Tanzania. In addition to this we have a copy of the final version Government circular on the matter. If you would like a copy email us at irl@irletter.com – subject line Tanzania reinsurance.

Insurance Research Letter – January 2018

Insurance Research Letter – January 2018

Sexual Harassment Litigation Climbs to One of Top Risks for 2018

The Time Magazine people of the year were 6 women who personified the movement to highlight the prevalence of sexual harassment globally. An ABC News-Washington Post poll released on October 17, 2017 reported that more than half of all American women—54%—have experienced “unwanted and inappropriate sexual advances” at some point in their lives. And no industry is immune.

US & International Business Insurance News & Articles

Read the January 2018 edition of the Insurance Research Letter  – subscriber login

January 2018 Index [ISSN #0892-0540 Vol. 52, No. 1 (print); ISSN #2165-2740 Vol. 21, No. 1 (digital)]

Editor’s Letter

  • Will the UK’s exit from the EU allow for an insurance-specific free trade agreement or not?
  • Will Aon redomicile to the US?
  • How the new US corporate tax plan affects most industries: one’s missing
  • Expert commentary – available options

Africa

Tanzania

  • Insurance Legislation Update – December 15, 2017: Conditions for dealing with foreign reinsurers and reinsurance brokers – David Nolan, AIB Brokers

Americas

Bermuda / US

  • US Tax Reforms – What Does This Mean For Bermuda? – Helena Coates, EC3 Legal

The United States

  •    Sexual Harassment Litigation Climbs to One of Top Risks for 2018 – Abdallah Ahmed, Clements Worldwide
  •    Careful how you code: Cyber-terrorism coverage under TRIA and stand-alone cyber policies – Jason Krauss, Willis Towers Watson

Europe

Germany

  • Doom scenarios are completely unfounded – Franz-Josef Hahn, Peak Re

Hungary

  • Only 1.8% of the registered vehicles do not buy MTPL insurance – Daniela Ghetu, XPRIMM

Turkey

  • Turkey to establish a nuclear insurance pool, under TCIP’s management – Daniel Ghetu, XPRIMM

Asia & Oceania

China

  • Chubb Announces Strategic Cooperation Agreement with China’s PICC Property & Casualty Company

The Back Page

Words and Definitions to help insurance professionals – Insurance fraud detection in the UK and Germany

Insurance Research Letter – December 2017

Insurance Research Letter – December 2017

US & International Business Insurance News & Articles

Read the December 2017 edition of the Insurance Research Letter  – subscriber login

December 2017 Index [ISSN #0892-0540 Vol. 51, No. 12 (print); ISSN #2165-2740 Vol. 20, No. 12 (digital)]

Editor’s Letter / Prefatory Note

  • Sidestepping Brexit? Free Trade Agreement
  • Yearend is a time to give thanks
  • Useful Links to Expert Commentary

Contributors

Synopsis

  • Companies
  • NewsBriefs
  • People
  • Agent, Broker, Consultant & Risk Manager News
  • News
  • People

ISN Country Insurance Information

Global Briefs

 Americas

The United States

  • Asking Questions for Learning Lessons from the Las Vegas Mass Murder Shooting: Did Poor Communication Planning, Lack of Communication Procedures and Limited Communication Tools Technology Hamper Effective Response in the Vegas Sniper Massacre
  • Is Terrorism and Political Violence the New Normal?

Europe

Austria

VIG to merge Wiener Städtische and s Versicherung in Austria

Bulgaria / Romania

Atradius enters Romanian and Bulgarian markets

Bulgaria / Russia

EIG to buy 49% stake in Russian insurer RSO EUROINS

Slovenia

The third largest Slovenian insurer is for sale

Asia & Oceania

China

Foreign parties to be allowed to own 100% of local insurers in China

­The Back Page

  • Quizzical solutions – Christmas Songs
  • Words and Definitions to help insurance professionals – Accumulation
  • International Employee Benefits Resources and links
Insurance Research Letter – November 2017

Insurance Research Letter – November 2017

US & International Business Insurance News & Articles

Read the November 2017 edition of the Insurance Research Letter  – subscriber login

November 2017 Index [ISSN #0892-0540 Vol. 51, No. 11 (print); ISSN #2165-2740 Vol. 20, No. 11 (digital)]

Editor’s Letter / Prefatory Note

  • Free Podcasts
  • YouTube Channel
  • Insurance Research Letter Blog
  • Change of Address

Contributors

Synopsis

Companies

  •    NewsBriefs
  • People

Agent, Broker, Consultant & Risk Manager News

  • News
  • People

ISN Country Insurance Information

Global Briefs

Recently Published

 Americas

The United States

  •    Do Your Foreign Offices Have the Right Coverages?
  •    Three Tips for Avoiding the Non-Disclosure Defense in Trade Credit Insurance Claims
  •    NFIP Again Under Scrutiny, Is The Private Sector A Viable Alternative?
  •    Technology Can Transform Flood Insurance Agents into a New Kind of ‘First Responder’ After a Natural Disaster

Europe

United Kingdom

  • Brexit – Considerations for the Insurance Industry

The Back Page

  • Quizzical solutions
  • Words and Definitions to help insurance professionals – Physical and Moral Hazard
  • International Employee Benefits Resources and links