Andrew G. Simpson

/Andrew G. Simpson

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So far Andrew G. Simpson has created 227 blog entries.
24 09, 2020

What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights

By | September 24th, 2020|Uncategorized|Comments Off on What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights

Lockton Re’s Tim Gardner, global CEO, and Ross Howard, global chairman, have been through their share of hard markets. Like many in the reinsurance business, they agree no two hard markets are exactly the same. For the two men personally, …

23 09, 2020

House Votes to Extend Flood Insurance Program 1 Year; Senate Yet to Vote

By | September 23rd, 2020|Uncategorized|Comments Off on House Votes to Extend Flood Insurance Program 1 Year; Senate Yet to Vote

The House of Representatives yesterday extended the National Flood Insurance Program until Sept. 30, 2021 as part of a measure to fund the federal government through December 11. The flood insurance program is currently set to expire in a week …

21 09, 2020

FCA to Insurer CEOs: Don’t Delay in Paying Valid COVID Business Interruption Claims

By | September 21st, 2020|Uncategorized|Comments Off on FCA to Insurer CEOs: Don’t Delay in Paying Valid COVID Business Interruption Claims

In a follow-up to the High Court’s ruling on coronavirus-related business interruption claims by businesses, the UK’s Financial Conduct Authority (FCA) is advising insurers that they must pay all valid claims “in full at the earliest possible date to support …

15 09, 2020

Financial Conduct Authority Hails Business Interruption Ruling as Policyholder Win

By | September 15th, 2020|Uncategorized|Comments Off on Financial Conduct Authority Hails Business Interruption Ruling as Policyholder Win

The Financial Conduct Authority said today’s High Court judgment in its coronavirus business interruption insurance test case found in favour of policyholders on the majority of the key issues. “Our aim throughout this court action has been to get clarity …

14 09, 2020

China Tightens Rules Governing Financial Holding Firms

By | September 14th, 2020|Uncategorized|Comments Off on China Tightens Rules Governing Financial Holding Firms

China issued new rules on Sunday to regulate financial holding companies, in its latest move to prevent systematic risks to the nation’s vast financial sector. The new rules were set to stem loopholes in supervision and regulation systems, as a …

14 09, 2020

Slovenian Woman Sentenced for Cuting Off Her Hand for Insurance Payout

By | September 14th, 2020|Uncategorized|Comments Off on Slovenian Woman Sentenced for Cuting Off Her Hand for Insurance Payout

A court in Slovenia on Friday sentenced a 22-year-old woman to two years in prison for deliberately cutting off her hand with a circular saw to make a fraudulent insurance claim. The district court in Ljubljana said Julija Adlesic agreed …

9 09, 2020

European Insurers Worried Regulators May Block COVID-19 Dividends

By | September 9th, 2020|Uncategorized|Comments Off on European Insurers Worried Regulators May Block COVID-19 Dividends

Global regulators should not ban insurers from paying dividends as a result of COVID-19 and should give firms more time to report their capital positions, European insurers said on Monday. The pandemic will likely lead to between $50 and $100 …

8 09, 2020

Abu Dhabi’s Etihad Airways Offers Passengers Coronavirus Insurance

By | September 8th, 2020|Uncategorized|Comments Off on Abu Dhabi’s Etihad Airways Offers Passengers Coronavirus Insurance

Abu Dhabi’s Etihad Airways on Monday said it would cover medical and quarantine costs for passengers if they contract the new coronavirus after traveling on one of its flights. Airlines around the world are trying to find ways to stimulate …

8 09, 2020

Japan Offers Mauritius ‘Unprecedented’ Support in Oil Ship Accident

By | September 8th, 2020|Uncategorized|Comments Off on Japan Offers Mauritius ‘Unprecedented’ Support in Oil Ship Accident

Japan has told Mauritius it would offer support on an “unprecedented scale,” Foreign Minister Toshimitsu Motegi said on Monday, after a Japanese-owned ship struck a coral reef off the country’s southeast coast in late July and spilled oil. Motegi was …

8 09, 2020

Munich Re Expects Beirut Losses of €100 Million; Sees Slowdown in COVID-19 Losses

By | September 8th, 2020|Uncategorized|Comments Off on Munich Re Expects Beirut Losses of €100 Million; Sees Slowdown in COVID-19 Losses

Munich Re said it faces claims of at least 100 million euros ($118 million) stemming from the deadly explosion that ravaged much of downtown Beirut last month. The German reinsurer said losses in the “low three-digit-million euro range” are expected, …