ICMIF member and leading rural insurer NFU Mutual (UK) has joined re-insurer Flood Re’s Build Back Better programme, reaffirming its commitment to supporting flood victims with resilient repairs able to withstand further flooding. NFU Mutual launched its Flood Resilience Repair scheme in November 2017, which is available for all home insurance customers with buildings cover. […]
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The Mutual Fire Insurance Company of British Columbia and Germania Mutual Insurance Company to merge
Canadian ICMIF member The Mutual Fire Insurance Company of British Columbia and Germania Mutual Insurance have reached an agreement to merge. Members have demonstrated their support at each company’s annual general meetings and the transaction is provisional upon receiving regulatory approval. Darin Nessel, the President and CEO of Mutual Fire Insurance, will continue as President […]
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ICMIF member DEVK Versicherungen, through its new subsidiary company hylane GmbH, a provider of climate-friendly mobility, has launched the first usage-based rental service for hydrogen-fuelled trucks in Germany. Founded in Cologne in 2021, hylane is committed to sustainable and innovative mobility in the transport sector. Maximum comfort with minimum risk – that is the promise […]
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All home insurance from ICMIF member Folksam now carries the Good Environmental Choice label (Bra Miljöval in Swedish). This covers 1.8 million households in Sweden. Also, the insurance company’s car, villa and holiday home insurance also meet the eco-label’s new, stricter requirements. The Good Environmental Choice standard’s requirements mean that insurance premiums must be invested […]
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Members of the Association of Financial Mutuals (AFM) that offer income protection (IP) products paid out 94.1% of claims received in 2021, up from 93.9% the previous year. The AFM is a member of ICMIF and based in the UK. Coronavirus continued to account for a significant proportion of claims, but, the AFM says, caused […]
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Seventy per cent of ICMIF members exceeded their local market’s annual growth over the last financial year, according to the International Cooperative and Mutual Insurance Federation’s latest edition of the ICMIF Members: Key Statistics report. These results follow positive findings from our recent ICMIF Members Sustainable Investment Report 2021, where 80% of ICMIF members named […]
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Last year, global economic losses from floods amounted to USD 82 billion, yet insured losses stood at slightly more than USD 20 billion, indicating a large protection gap. In 2021, floods accounted for 31% of global economic losses from natural catastrophes, only 2% less than tropical cyclones, according to Swiss Re Institute’s latest sigma report, […]
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Earlier this year ICMIF member Vaudoise Assurances (Switzerland) concluded a merger with Swiss insurance cooperative Epona SA. As a long-standing cooperative member of Epona, the Vaudoise Group wants to breathe new life into the Swiss leader in animal insurance while respecting its mutualist roots and 120-year history. Vaudoise Assurances, which already owns the dog and […]
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Co-operators provides investment for flood risk modelling and analysis specialist company Geosapiens
ICMIF member Co-operators (Canada) has provided an investment for the first round of funding for Geosapiens, a Canadian company specialising in flood risk modelling and analysis. This investment will allow Geosapiens to deploy its flood mapping model across Canada by the end of 2022. With comprehensive coverage of the country, Geosapiens will adequately meet the […]
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ICMIF Supporting Member EY announced it has been ranked number one in HFS Research’s Top 10 Insurance Services Report, recognised for a future-ready vision and deep capabilities across a wide range of consulting services. HFS, a technology analyst firm focused on defining the future of business operations, determined the top 10 by assessing 18 leading […]
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