Weekly News Roundup – 16th July

Last week I reported on insurer collaboration in the cyber arena, this week a group of 8 major players have launched a new alliance focussed on creating guidelines and underwriting criteria for activities within their underwriting portfolios that produce high levels of greenhouse gases. This will no doubt set a precedent for the rest of the industry. Also, following on from the news that the FCA were clamping down on non-compliance to client money rules, they have since released their business plan, promising to be a “tough, assertive” and “proactive regulator”. Read on to find out more.

Net-zero insurance alliance (NZIA) launched at the G20 Climate Summit (Source: Reinsurance News)
Some of the biggest insurers have pledged to transition their underwriting portfolios to net-zero greenhouse gas emissions by 2050.

AM Best assessments are “validation” of MGA model (Source: The Insurer TV)
MGA performance assessments – “natural evolution and validation of the model” or “solution looking for a problem”? Insurance experts share their views.

FCA commits to being ‘tough, assertive’ and a ‘proactive regulator’ in its latest business plan (Source: Insurance Times)
The latest business plan details key priorities for the next twelve months including plans for primary and secondary markets following Brexit, improving diversity and inclusion and investing in its data strategy.

Travelers Europe weighs in on the cyber risk facing financial institutions (Source: Insurance Business Magazine)
In this article the insurer discusses key cyber concerns for financial institutions.

The 2 crucial changes happening in insurance distribution (Source: Insurtech Insights)
The rise of insurtechs and customer demand for digital channels when buying insurance is transforming the insurance ecosystem.

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