week commencing 15/07/18:

The holiday season officially starts today!  This Week has decided to follow the packing advice of our final story and, with all kit stowed, is heading for the beach – we will be back on August 10th, relaxed and raring to go.

Insurers and banks react to prospect of ‘no deal Brexit’
There has been much concern from the City this week over the lack of a deal for financial services.  Insurers will struggle with this scenario warns Insurance Day. External-link [Insurance Day]

Lloyd’s Brussels scores disappointing A rating from AM Best
However, the latest report did predict an improvement in the overall attritional loss rating as the performance management process takes hold. External-link [Insurance Insider]

January’s freezing storm brings €1.68bn loss
Catastrophe data provider Perils has increased its estimate of the damage caused by extratropical cyclone Friederike (known here in the UK as Storm David) to over €1.5bn. External-link [Reinsurance]

IBM publishes second global study of data breaches
IBM’s second global study of data breaches found that the average cost of a breach had increased 6.4% from last year and is now US$3.86 million. External-link [Insurance Business]

Blockchain market to grow 84% annually predicts ReportLinker
A ReportLinker study states that the blockchain insurance market will grow exponentially, moving from $64m in 2018 to over $1bn by 2023. External-link [Insurance Business]

Insurers wind down Iran exposures as Lloyd’s systems enact new sanction requirements
America’s reintroduction of sanctions on Iran has meant that Lloyd’s underlying data-handling systems, such as DXC, XCS and XIS will no longer handle or retrieve risk data from the country. External-link [Reuters]


How can we get better at packing our cases?
The Financial Times wonders why we are all so useless at holiday packing. External-link [Financial Times]


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