Non-life / General

Reinsurers drive premiums through hard market

It is never easy to explain significant insurance premium increases to your clients. Nowadays, the trend among brokers and insurers who are keen to win or retain business is to ‘blame’ their reinsurance partners when costs get out of hand, and they could have a case. In a thought-provoking presentation on ‘the impact of reinsurance on the insurer and customer’, Willie van Graan, Chief Underwriter and Reinsurance Officer at Old Mutual Insure, told attendees at the Insure Talk 30 webinar that a combination of factors was contributing to the present hard market for reinsurance.

Cover your bases: from slipping to snake bites, accidents happen

A “play fight” at school leading to a fracture and an emergency room visit. A snake bite in the shower resulting in a lengthy hospital stay and expensive medical treatment. A mishap during an exercise routine translating to a broken bone and extended time off work.

Top trends that are shaping the insurance sector in 2023 and beyond

As the world weathers a growing financial crisis, socio-political instability, the post pandemic repercussions and major weather catastrophes, the impact on clients and insurers alike has been profound.

Cyber insurance does not offset ransomware risks