The Lloyd's Market Association (LMA) and the International Underwriting Association of London (IUA) recently introduced the Sustainability Data Standard, a new initiative aimed at bringing consistency to the way underwriters collect sustainability data from clients. This comprehensive set of 22 questions is designed to standardise the disclosure process, making it easier for insureds to provide the necessary sustainability information during underwriting. By introducing a uniform approach, the LMA and IUA aim to reduce the complexity and time associated with meeting diverse reporting requirements. Paul Davenport, Finance and Risk Director at the LMA highlighted the growing challenges faced by insureds: "As sustainability reporting becomes increasingly rigorous, the burden on insureds to disclose detailed data has grown significantly. With insurers and brokers developing unique surveys, insureds are often met with inconsistent and overlapping data requests. Our collaboration with the IUA seeks to harmonise these requests, creating a single, streamlined process that benefits all parties involved." The Sustainability Data Standard is available under the "Resources hub" on the LMA Sustainability page: https://lnkd.in/eWcGfQk4. #Sustainability #Insurance #Underwriting #LMA #IUA #SustainabilityData #RiskManagement #SustainabilityStandard #Insurance
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𝗦𝘂𝗿𝗲𝘁𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗣𝗼𝘄𝗲𝗿𝗲𝗱 𝗯𝘆 𝗥𝗶𝘀𝗸 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 & 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗧𝗿𝘂𝘀𝘁 🔒🏢 𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 https://lnkd.in/dPzHb8A3 𝗠𝗮𝗿𝗸𝗲𝘁 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗶𝗻 𝗦𝘂𝗿𝗲𝘁𝘆 𝗦𝗽𝗮𝗰𝗲 🔄 The Surety market is gaining prominence as public and private sector infrastructure projects expand globally. Governments are increasingly mandating surety bonds to ensure contractual obligations are met, boosting the role of insurers in the construction and commercial industries. Technological adoption in underwriting processes is also streamlining risk assessment and improving claim resolution. 𝗧𝗿𝗲𝗻𝗱𝘀 𝗗𝗿𝗶𝘃𝗶𝗻𝗴 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 💡 Emerging trends such as automation in surety bond management, increased digital integration, and expanding SME participation are reshaping the market landscape. Moreover, rising awareness of financial compliance and risk management in developing regions is fostering new growth pockets and partnerships across sectors. 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗦𝘂𝗿𝗲𝘁𝘆 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 🤝 Top players influencing the market with innovation and reliability include The Travelers Indemnity Company, Liberty Mutual Insurance, Chubb, Zurich Insurance Group, Tokio Marine, and HCC Surety Group. #Surety #InsuranceMarket #RiskManagement #InfrastructureDevelopment #ConstructionIndustry #Underwriting #DigitalInsurance #Insurtech #BusinessGrowth
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Construction risk is changing—and so are the solutions. #Hylant is proud to highlight Rachel Dobbs, Client Executive, for her leadership in navigating today’s evolving #construction risk landscape. Featured in Insurance Business America, Rachel shares how traditional #insurance models are falling short—and why innovative strategies like CIPs and project cargo policies are becoming essential. Read more: https://hubs.ly/Q03xSSmB0
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A Friday post from the watch tower! Gold Standard just opened the door for private insurance providers to support #CORSIA compliance Until now only #MIGA from The World Bank was recognised. -------That is changing------- With Howden appointed to assess political risk policies, developers will soon have more flexibility. Buyers gain greater confidence that credits meet the rules. We pulled together an explainer to help you track the shift and stay ahead of what is becoming a fast moving compliance grade market. #CORSIA #CarbonMarkets #CarbonInsurance #AviationDecarbonisation #GoldStandard #ClimateFinance #Article6
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📰 Your 𝘐𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘛𝘪𝘮𝘦𝘴 Weekend Read 📰 #InsuranceTrends 𝘈𝘙𝘛𝘐𝘊𝘓𝘌: https://lnkd.in/gf2hCgTt The rise of MGAs has transformed the broker landscape over the past decade, with a Prestige Underwriting survey revealing that 42% of brokers turn to MGAs as their first port of call for placing non-standard risks. But what are the implications of a potential shift into overreliance on MGAs and ... #insurance #insuranceindustry #insurancenews #ukgi #insurancebroker #brokers #broker #insurers #insurer #mgas #mga #b2b
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🚨 𝐄𝐈𝐎𝐏𝐀 𝐬𝐞𝐭 𝐨𝐮𝐭 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐨𝐧 𝐦𝐚𝐬𝐬 𝐥𝐚𝐩𝐬𝐞 𝐫𝐞𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 (𝐌𝐋𝐑) Today, EIOPA published its final opinion on the supervision of MLR treaties, marking a significant step forward for the European insurance market. - The paper clarifies and simplifies the messages from the consultation phase, clearly distinguishing 𝐛𝐞𝐬𝐭 𝐩𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬 from structures that 𝐜𝐫𝐞𝐚𝐭𝐞 𝐛𝐚𝐬𝐢𝐬 𝐫𝐢𝐬𝐤. - It confirms that 𝐌𝐋𝐑 𝐭𝐫𝐞𝐚𝐭𝐢𝐞𝐬 𝐜𝐚𝐧 𝐛𝐞 𝐫𝐞𝐜𝐨𝐠𝐧𝐢𝐬𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐒𝐂𝐑 (𝐚𝐧𝐝 𝐑𝐌) 𝐜𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐢𝐨𝐧, provided they are 𝐚𝐥𝐢𝐠𝐧𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐢𝐧𝐬𝐮𝐫𝐞𝐫’𝐬 𝐫𝐢𝐬𝐤 𝐩𝐫𝐨𝐟𝐢𝐥𝐞 𝐚𝐧𝐝 𝐒𝐨𝐥𝐯𝐞𝐧𝐜𝐲 𝐈𝐈 methodologies. - It also addresses key technical aspects such as 𝐦𝐞𝐚𝐬𝐮𝐫𝐞𝐦𝐞𝐧𝐭 𝐩𝐞𝐫𝐢𝐨𝐝𝐬 and the confirmation that 12-month rolling structures are appropriate when properly designed, 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐜𝐥𝐚𝐮𝐬𝐞𝐬, and the 𝐥𝐚𝐩𝐬𝐞 𝐝𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧, all of which are critical to ensure 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐫𝐢𝐬𝐤 𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫. At 𝐆𝐚𝐥𝐥𝐚𝐠𝐡𝐞𝐫 𝐑𝐞, we have 𝐢𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐞𝐝 𝐦𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞 𝐚𝐧𝐝 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐥𝐲 supporting insurers in the design and placement of MLR solutions. We ensure the cover carefully addresses all EIOPA recommendations, and is tailored to our client risk profile. 📩 If you're exploring MLR or want to get our full analysis on this paper contact us
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The marine insurance market across the Middle East, Southeast Asia, and Africa is evolving rapidly due to geopolitical tensions, rising claims, and shifting risk appetites. Increased underwriting scrutiny and premium adjustments are shaping the industry, making it critical to stay ahead of the curve. Our latest report explores the state of marine hull and cargo insurance across these regions and how businesses can navigate emerging challenges. Read the full insights here: https://lnkd.in/dXa-75mc
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Insurance Business recently attended RIMS Canada and asked leading industry professionals, including HUB's Ray Monteith and Linda Regner-Dykeman how geopolitical risks are affecting the insurance industry and how insurers are navigating the uncertainties. Watch to see how Ray and Linda discuss strategies for navigating this evolving landscape: https://ow.ly/I10E50WiFif #GeopoliticalRisks #InsuranceIndustry #ComplexRisk
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Gone are the days of basic risk transfer in insurance. The future is all about deep, long-term partnerships and a proactive, consultative approach to risk. As Vanesa Herrero, CEO of Tokio Marine Europe, highlighted at the Reuters Future of Insurance conference, true client resilience comes from understanding unique challenges and co-creating innovative solutions. It's about combining human expertise with cutting-edge strategies to prevent the worst from happening. To read more, click here: https://ow.ly/cC5150WmipU #TMHCC #FOIEurope #InspiringConfidenceAcceleratingProgress
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How do insurers stand out in a crowded market? For Vanesa Herrero, CEO of Tokio Marine Europe, it boils down to four key differentiators: client service, engagement, claims and proximity. It's not just about coverage; it's about constant evolution to meet changing risks, transparent and fair claims handling, and having local experts who truly understand their clients' worlds. See the highlights in the below post, and read the full article here: https://lnkd.in/dmsXV424 #TMHCC #FOIEurope
Gone are the days of basic risk transfer in insurance. The future is all about deep, long-term partnerships and a proactive, consultative approach to risk. As Vanesa Herrero, CEO of Tokio Marine Europe, highlighted at the Reuters Future of Insurance conference, true client resilience comes from understanding unique challenges and co-creating innovative solutions. It's about combining human expertise with cutting-edge strategies to prevent the worst from happening. To read more, click here: https://ow.ly/cC5150WmipU #TMHCC #FOIEurope #InspiringConfidenceAcceleratingProgress
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A new report from Swiss Re projects a favourable 2025 outlook, with the U.S. property & casualty industry expected to maintain a 10% ROE through 2026, as improved investment returns help offset weaker underwriting profitability despite historically strong, though slowing, underlying results.
