Many Canadians are already experiencing challenging weather conditions with snow and sub-zero cold. These freezing temperatures can wreak havoc on homes, causing pipes to freeze and ice damming. Water is the most common cause of damage and accounts for 50% of home insurance claims costs. And although home insurance policies cover accidental damage resulting from […]
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ICMIF Supporting Member A.M. Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019, citing factors stemming from a growing alignment between traditional and third-party capital among non-life reinsurers. A more-stabilized pricing environment—albeit at levels still below long-term adequacy—a rising interest rate environment, emerging growth opportunities and […]
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Sri Lanka needs proper regulation for microinsurance to enable this sector to grow, according to a new report produced by the International Cooperative and Mutual Insurance Federation (ICMIF) and the Institute of Policy Studies of Sri Lanka (IPS). Entitled Country diagnostic on mutual and cooperative microinsurance in Sri Lanka, the report is the outcome of a first-of-its-kind study to investigate […]
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Insurers around the world should receive fair regulatory treatment, according to their nature, scale and complexity, a conference of mutual and cooperative insurers will hear at the second joint AMICE-ICMIF regulatory event taking place in Paris today. More than 100 delegates will hear from leading industry representatives, practitioners, global regulators and policymakers about regulatory developments […]
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Earlier this month (13 November 2018) the United Nations Environment Finance Initiative (UNEP FI) announced a partnership with 16 of the world’s largest insurers including two members of the International Cooperative and Mutual Insurance Federation (ICMIF); The Co-operators (Canada) and Länsförsäkringar Sak (Sweden). This new Insurer Group represents around 10% of world premium and USD 5 trillion in assets […]
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Two ICMIF members from Denmark have received national acclaim for their outstanding reputations. “danmark” health insurance and LB Insurance were ranked number one and two respectively, in terms of having the best image among financial companies in Denmark according to a recent independent survey. Seventy of the largest financial companies in Denmark were analysed, based on answers from […]
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ICMIF members have achieved an aggregated growth of 39.3% (compared to global market growth of 16.8%) during the last ten years, according to the ICMIF Members: Key Statistics 2018 report. ICMIF has published an updated version of its ICMIF Members: Key Statistics report for 2018. The 2018 edition of the report provides a comprehensive overview […]
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The insurance industry has historically often been accused of being “stale, male and pale”; dominated by older, white men with speaker line-ups for insurance conferences and events in particular often very typical of this stereotype. The International Cooperative and Mutual Insurance Federation (ICMIF) has, however, worked hard for many years to offer an alternative to […]
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Sri-Lankan member of ICMIF, Amãna Takaful, received multiple honours at the prestigious Islamic Finance Forum of South Asia (IFFSA) Awards, held recently in Colombo. Amãna Takaful PLC (ATL) won the ‘Gold’ award for the ‘Takaful Entity of the Year’ category, while its off-shore subsidiary in the Maldives, Amana Takaful Maldives, won the ‘Silver’ award in […]
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New research from Lloyd’s and the Centre for Economics and Business Research (CEBR) has found that there is an estimated global underinsurance gap of USD 162.5 billion in 2018. This protection gap poses a significant threat to livelihoods in some of the world’s most vulnerable economies. The report, entitled A world at risk: Closing the insurance gap, demonstrates how the […]
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