week commencing 08/09/19:

As the great and the good of the re/insurance world tripped the light fantastic in Monte Carlo, we mere mortals at Luther Towers continued to scour the media for the best stories this week. 

Inside track on the Future at Lloyd’s

An early draft of the blueprint for the Future at Lloyd’s, scheduled for publication on the 30th September, highlights claims processing, the Risk Exchange and the complex risk platform as the focus for immediate action. External-link. Insurance Insider

Broker consolidation continues with sale of RFIB

Tysers has ended long running speculation about the future of fellow independent broker, RFIB, by striking a deal to acquire its parent group. External-link. Reinsurance News

Blockchain specialist widens offering

Insurwave, which started out as a blockchain platform for marine risk, is looking to extend its reach to other risk classes. Having trialled cargo and credit, the next port of call is the placement of property risks. External-link. Insurance Day

Insurance needs to wake up to climate change

With Munich Re calling 2017/18 “the worst two-year period for natural catastrophes on record”, should the insurance industry worry that capacity is not keeping up with climate change? External-link. Financial Times

A robust response to bad behaviour

Ahead of the publication of its “sobering” culture survey, the Chairman of Lloyd’s makes it clear that the full force of its regulatory powers will be used to curb misconduct. External-link. Insurance Insider

2021 to see global cyber losses hit $6 trillion

A report by Aon revealed some eye-watering numbers, with losses arising from physical damage but more importantly reputational damage. The report warns that businesses are still not paying the problem enough attention. External-link. Insurance Business

Risk Exchange should be embraced by brokers

John Neal, CEO of Lloyd’s, urged brokers to see the opportunity in the new Exchange for more commoditised risk – not to fear the unknown. External-link. Insurance Day

Early estimates for Tokyo typhoon around $3bn

Typhoon Faxai hit Tokyo as a Category 2 storm and loss estimates range from $1.5bn to $5bn. Caution is required however as Typhoon Jebi rose from original estimates in low single digits to a $15bn-$16bn insured loss. External-link. Insurance Insider

Reith leaves Neon

Martin Reith, CEO of Neon will step down at the end of September from AFG-owned Neon, after four years leading the business. He will hand the reins to current managing agency CEO Theo Butt. External-link. The Insurer

Bumps in the road?

With fully automated cars expected on the road by 2021, a 12-point plan has been published by Thatcham research to help us navigate the interface between man and machine. Time for us all to put our feet up at the wheel? External-link. Insurance Edge

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