The ClimateWise Principles Independent Review 2020 was published last week, and findings show member insurance industry firms have made significant progress in disclosing their preparedness and response to climate change. ICMIF members Ecclesiastical (UK) and Swiss Re are both members of ClimateWise. ClimateWise is a voluntary global membership initiative which brings together reinsurers, insurers brokers […]
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As South Africa continues to grapple with a second wave of COVID-19 infections, ICMIF member AVBOB, a funeral service and funeral insurance provider, is taking a proactive approach in alleviating some of the financial burden on individuals who need to lay their loved ones to rest. Towards this end, AVBOB says it has saved its […]
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According to ICMIF member Royal London, it paid out a total of GBP 13 million for Covid-19 claims in 2020. The majority of the claims (2,110) were death claims with 2,049 paid out on Whole of Life policies and 61 on Term Life policies. One Critical Illness claim was paid due to Covid-19 leading to […]
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As Solvency II celebrates its fifth anniversary, the European Commission is moving forward with a review of the system that will shape its operation over the coming years. A new report by ICMIF Supporting Member AM Best, A Very Particular Regime — EIOPA’s Solvency II Review Advice examines some of the Solvency II reform proposals […]
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ICMIF Supporting Member Berkley Re Solutions, a Berkley Company, has introduced Workplace Violence Protection, a new innovative reinsured turn-key solution to help insurance carriers immediately respond to tragic events affecting their insureds. According to the Occupational Safety and Health Administration (OSHA), some two million American workers reported having been victims of workplace violence, and according […]
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French ICMIF member the Association of Mutual Insurers (Association des Assureurs Mutualistes, AAM) have reported this month that mutual insurers are now sharing their forecast results for 2020. A notable element of these results is the attractiveness of the mutual model in a context of health, economic and social crisis. In 2020, nearly 400,000 French […]
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Women’s representation in leadership positions in the (re)insurance industry is improving, but progress is slow, according to the Swiss Re Institute, the research arm of ICMIF Supporting Member Swiss Re. The research in Swiss Re Institute’s expertise publication Gender diversity in the re/insurance industry: for a sustainable future finds that women represented about a fifth […]
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ICMIF member Amana Takaful Insurance (Sri Lanka), has recently successfully refreshed its brand identity with a fresh logo and a lively brand message that emphasises its time-tested mission and purpose of providing service to all Sri Lankans. Fuelled by the notion that Amana Takaful, unlike conventional insurance, is a win-win for both the insurer and […]
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Earlier this month, ICMIF member EMC Insurance Companies (USA) and the EMC Insurance Foundation announced their charitable giving and community involvement impact for 2020. Each year, EMC allocates the equivalent of one tenth of one percent of the prior year’s surplus to grantmaking through the EMC Insurance Foundation (the Foundation). With last year’s contributions, the […]
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ICMIF member Vaudoise Assurances (Switzerland) stands out when compared to other Swiss financial institutions in terms of alignment of its financial portfolios to the climate objectives of The Paris Agreement. Vaudoise took part in the Paris Agreement Capital Transition Assessment (PACTA), a climate-alignment test developed by the 2° Investing Initiative (2DII) and conducted in Switzerland […]
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