week commencing 13/05/18:

In case you hadn’t noticed, the wedding of the year is taking place tomorrow and the mood at Luther Towers can be summed up as part delighted patriotism, part dismay (we’re looking at you, wannabe royal in-laws). If you’ve had your fill of wedding fever and the Markle Debacle, may we suggest our run-down of this week’s industry news instead?

IAG investigates its future beyond insurance
With doubts about the future of the insurance market openly being expressed by at least one industry leader, IAG has begun to think laterally about its future. A senior executive revealed this week that the company is considering how to interact with its customers outside of the bounds of insurance. External-link [Insurance Business Magazine]

A new vision for London as global IP leader
Senior executives are pushing for London to brand itself as a global hub for intellectual property (IP) as competition emerges from international markets. External-link [Insurance Day]

Second quarter sees global insurance prices increase
Casualty prices declined but a combination of finpro claims deterioration and cat losses saw global insurance rates climb overall. External-link [Insurance Day]

A whole new type of marine insurance in the works?
Last year’s natural disasters caused $320 billion dollars-worth of damage, only a quarter of which was covered by insurance. Spotting a gap in the market, savvy providers have begun to think about the opportunities available in so-called ‘ocean risk’. External-link [Reuters]

Possible flat mid-year renewal according to analysts
Analysts have signalled that the industry could be heading towards a flat mid-year renewal despite a $140 billion boost from cat losses in the final months of last year. External-link [Reinsurance]

September launch for new London market system
The new system is set to be a breath of fresh air for the London market by simplifying the flow of data between providers, customers and brokers. External-link [Insurance Insider]

Opportunity awaits at the end of China’s One Road
Insurers seeking to capitalise on the wealth of opportunity provided by China’s new One Belt, One Road initiative will need a clear strategy and the right products. External-link [Insurance Day]

Horgan: work needed on cyber exclusions
Senior Zurich North America executive Paul Horgan lends his voice to calls for insurers to tighten up cyber exclusions by building dedicated coverage towers. External-link [Insurance Insider]

Nothing sweet about Marshmallow-Marsh name dispute
Global broker Marsh had moved to block Insurtech start-up Marshmallow from using their chosen name, but the Intellectual Property Office has ruled against them. The reason given was that Marsh, a common surname or description of a type of land, is conceptually different to Marshmallow, a “soft, sweet food”. External-link  [Insurance Age]


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