Mark Carney leading the way…. Mark Carney, Governor of the Bank of England, once described climate change perfectly saying that it “imposes costs on future generations that the current one has no direct incentive to fix*” In his more recent ‘A New Horizon’ speech at the European Commission Conference (March 2019), Carney again sounded the […]
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Insurance is a begrudging purchase, generally not wanted, most feeling that they will never use it, or at least hopeful that they will never need to use it. Most people at some level know, but likely give very little thought to, the fact that insurance underpins the world’s economy. The economy’s growth is based primarily […]
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The survival of motor mutuals will depend on their ability to leverage the advantages of their unique ownership model to retain market share, as demand for traditional motor insurance diminishes Arguably, the biggest risk facing the insurance industry over the next 10 years is the emerging business risk to the motor insurance industry, as the […]
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The positive impact of my participation in the ICMIF Biennial Conference in London in 2017 On August 2017, the President of my organisation 1CISP (the Philippines), Roy S. Miclat, recommended that I attend the ICMIF Biennial Conference in October 2017 which was to be held in London (UK). Unanimously, the 1CISP Board of Directors approved […]
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The socio-economic impact of mutual/cooperative insurers is often recognised as a core differentiator for our sector. Their ability to think and behave differently contributes to heightened consumer choice; product and service innovation; fair pricing; and ultimately improved consumer trust. The year 2018 has seen many success stories for our sector but particularly in terms of […]
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Although we live in an increasingly globalised society, insurance and the regulation of insurance remain a long way from the conception of a globalised industry as proposed by Levitt’s 1983 essay, “The Globalization of Markets” (Harvard Business Review), which suggested standardisation and convergence to be essential for successful businesses and markets. Certainly, insurance has relied on […]
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The below blog was published on the Willis Towers Watson Wire website on 24 October 2018. It was written by Francis Kean, Executive Director in Willis Towers Watson’s FINEX Global, is reproduced here for the benefit of our members with the kind permission of ICMIF Supporting Member Willis Re. The acronym FSB probably conjures up for you the Federal […]
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This year Argentina holds the G20 presidency and a G20 Insurance Forum took place this year for the first time ever in September in Bariloche, Patagonia. Four Argentinian ICMIF member organisations Sancor Seguros, La Segunda, San Cristóbal and ADIRA supported the project and helped to host the Forum. Alejandro Simón (seen on the far right […]
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There is significant growth potential for cyber security insurance products in Europe, according to an August study by the European Insurance and Occupational Pensions Authority, although many market challenges and issues remain. The report, “Understanding Cyber Insurance – A Structured Dialogue with Insurance Companies,” points out that most earlier studies focus on either the United […]
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Mark McLaughlin, Global Insurance Director at IBM, was interviewed by A.M. BestTV at the Meeting of Reinsurance Officials 2018 in Montreal. A.M. BestTV delivers A.M. Best’s coverage of the insurance industry in a television-quality format. In this interview with John Weber of A.M. Best TV, Mark describes how insurers and insureds benefit from four main changes happening in […]
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