week commencing 10/01/21:

Whether it’s impeachment, inauguration or inoculation stories that are grabbing your attention, there’s no doubt that the Is have it this week.  Rest assured however Luther’s eagle-eyed media watchers have done their best to bring you the most important snippets from the other ‘I’ we all care about – this week’s insurance news.

Insurance fears hit care homes

The lack of liability insurance is forcing care homes in the UK to refuse to admit hospital patients. Managers say they cannot take the risk of introducing patients who may have Covid-19 and have asked for government help. External-link. [FT]

Record nat cat losses for 2020

Losses from 2020’s record hurricane season alongside wildfires and other natural catastrophes amounted to $82 billion, Munich Re has reported. The figure is 44% higher than last year. External-link. [Reinsurance News]

Lloyd’s to review European underwriting

Regulators in Belgium have raised concerns over Lloyd’s Europe, although they are happy for managing agents to continue as normal for “the time being”. External-link. [Insurance Insider]

QBE ups its cat allowance

After renewing its global reinsurance programme at better-than-expected terms, insurer QBE has increased its catastrophe allowance for 2021. The insurer is expected to post a $1.5 billion loss for 2020. External-link. [Insurance Day]

Aviation market ‘challenging’

The impact of Covid-19 has led to ‘challenging’ renewal negotiations in the aviation market, broker Gallagher said. Nigel Weyman from Gallagher said the market was facing a “perfect storm”. External-link. [Reinsurance News]

Harding to head energy at Liberty

Liberty Specialty Markets has hired Lesley Harding as its new head of global energy. Harding has a long track record in the sector including BP and as CEO for Willis’ Global Captive Practice. External-link. [Reactions]

Industry threatened by deep fakes

Cyber analytics specialist CyberCube has warned that so-called deep fakes – realistic fake video and audio – could pose a major problem for businesses and their insurers in the next two years. External-link. [Asia Insurance Review]

Gallagher snaps up UK rival

Broker Gallagher is to buy regional broker Bollington from its private equity group owner Inflexion. Bollington will become part of Gallagher’s UK retail division. External-link. [Insurance Day]

Miller expands in Bermuda

Broker Miller has hired Charlie Simpson from competitor Aon as part of its reinsurance expansion programme. Simpson will become Miller’s head of Bermuda. External-link. [Insurance Insider]

Convex receives $500m investment

US investment firm Sixth Street has invested in Stephen Catlin’s Convex, having already invested in a UK pensions start-up and a Dutch insurance company. External-link. [Financial Times]

Not so social media?

Donald Trump has made history as the first US president to be impeached twice. But he’s also the first to be banned from Twitter. Does the de-platforming of an American president mark the beginning of a new relationship between the tech industry and the public? External-link. [The New Yorker]

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