“Ultimate failure” in £30m British Steel claim & more…Keep up to date with the latest insurance news in our weekly round-up…
The increasing availability of genetic testing has been identified as a key risk for life insurers to be aware of, with considerable implications for data management and regulatory constraints. “The major challenge for life insurers is to obtain adequate and risk-relevant information during the underwriting process,” the report explains. “Generally, regulation disallows the use of genetic information in underwriting. A new generation of genetic tests is only likely to widen the information gap between insurer and insured.”
Mactavish has revealed it is representing British Steel in a disputed £30m insurance claim with Zurich Insurance and other providers including Liberty.
The global reinsurance arm of broker Willis Towers Watson, Willis Re, has entered into a strategic partnership with InsurTech firm Concirrus to transform specialty re/insurance products by leveraging data from the Internet of Things.
Liberty Mutual Reinsurance the reinsurance arm of Liberty Specialty Markets, announced it has launched a reinsurance operation under Lloyd’s registration in Mexico to service clients in Mexico and Central America.
Unrated insurer, Lamp applied for liquidation at the Supreme Court of Gibraltar late last week.