CHU Underwriting Agencies Pty Ltd’s Post

Welcome to Day One APCIA edition: Sunday, 6 October Download for FREE: https://lnkd.in/g6QeabzY Our lead article highlights reinsurers’ steadfast stance on cat retentions as negotiations continue, even if the rest of the year runs relatively clean. If it does, there is an expectation that there will be a continuation of the pricing trends seen in 2024 so far, with modest reductions for most. At the very least, the activity of the last ten days is a strong reminder of the potential for major losses – and in Helene of a nature of a loss event that has once again challenged convention. We also lead on an interview with APCIA CEO David Sampson, who has laid out some of the key areas of likely discussion at the event, including insurers rebalancing their risk and reducing exposure in response to elevated nat cat losses, as well as challenges in casualty related to legal system abuse and social inflation. You will also hear from: Jean Paul Conoscente , SCOR Dr. Marcus Winter, Munich Re Specialty - North America Andy Marcell, Aon Jill Beggs, Everest And many more... #APCIA2024 #reinsurance #insurance

Time is running out to vote in Captive International’s US Awards 2024! Nominate the firms and individuals you’d like to see recognised in 2024 and by taking part you will automatically receive a summary of the results, which will be published later this year in our special edition: Captive International US Awards 2024 issue.    The deadline for nominations is this Sunday, June 23. Cast your vote now: https://bit.ly/4c40ZZ1 These awards celebrate the efforts and achievements of the most exceptional domiciles and service providers in the US captive insurance industry. We aim to shine a spotlight on the firms that go about their business quietly, out of sight, without always receiving the level of recognition commensurate with the importance of the work they do. Your feedback is instrumental in helping us to do that! So if you haven't already, help us to reward excellence in the market, and please vote now: https://bit.ly/4c40ZZ1 #CaptiveInternational #USAwards2024 #CaptiveInsurance #InsuranceAwards #VoteNow #InsuranceIndustry #IndustryRecognition #RecogniseExcellence #SupportExcellence #InsuranceProfessionals

The Insurance Development Forum welcomes Swiss Re Group CEO Andreas Berger to our Steering Committee. Andreas was appointed as Group Chief Executive Officer of Swiss Re effective 1 July 2024. Swiss Re has been at the forefront of innovative efforts in the Insurance Development Forum (IDF), leveraging its extensive expertise to address global insurance protection gaps. We look forward to continuing the partnership with Andreas. Accountable for the overall strategy and direction of the IDF, invited industry leaders lead the Steering Committee, together with UN agency leaders, international institutions and others. We are looking forward to Andreas’ input and guidance as we pursue our commitment to provoking systemic change and increasing resilience for the public good. Read Andreas’ biography here: https://lnkd.in/e8VqRcie #ENGAGEMENT #Welcome #Resilience #Insurance #Development #Sustainability #Impact #SustainableDevelopment #ClimateChange #ProtectionGap #ClimateRisk #Adaptation #Insurance

Exciting Read from the Insurance Community! 🔍We're delighted to share this compelling article authored by KPMG in Canada. In a dynamic industry like insurance, staying ahead is key. This article delves into crucial considerations for insurance boards, exploring trends, challenges, and opportunities shaping the future of the insurance industry. 🌐 Read the full article here: https://lnkd.in/etzdVvPK #Insurance #Leadership #KPMGInsights #IndustryAnalysis

In the second in our series of Quarterly Outlook conversations between current ICMIF CEO, Shaun Tarbuck, and CEO Designate, Liz Green, the two leaders discuss the latest news from the sector for our members and what they can look forward to in the remainder of 2024. This is a transition year for ICMIF, in which Shaun will step down from his role as CEO and Liz will take over, we are keen to keep our members and external stakeholders informed about the plans that Shaun and Liz have for our global membership this year. These updates will share information on new initiatives/events for members, provide insightful comment on our industry, both the mutual/cooperative sector and also the wider insurance industry. In this conversation, Shaun and Liz take a look at the highlights of the year so far and also look ahead with topics discussed including: the ICMIF Biennial Conference 2024; highlights from the latest Global Mutual Market Share research; how ICMIF supports members with their strategic challenges; and the launch of ICMIF’s new virtual learning platform. Watch the video: https://lnkd.in/eY63R6YJ #Insurance #Mutuals #MutualInsurance #OnlyAtICMIF #ConnectingMutualsGlobally #PurposeDriven #CollaboratingWithPurpose

Great publication from the IAIS - International Association of Insurance Supervisors which provides more clarification on Operational Resilience. The aim of the publication is to further harmonize the discussion on definition and objectives regarding Operational Resilience; which are in line with DORA. Paragraph 7: Operational Resilience is an outcome. Achieved by implementing and practicing a fast array of practices and disciplines. Example of some of the objectives contributing to Operational Resilience: · 2.2.1: The insurer identifies and maintains an up-to-date inventory of its critical services and interdependencies · 2.2.2: The insurer sets impact tolerances for disruption to its critical services · 2.2.3: The insurer self-assesses and tests its ability to withstand and recover from severe operational disruption scenarios · 2.2.7: The insurer develops, implements, tests and updates its BCP and DRP to ensure that it can respond, recover, resume and restore to a pre-defined level of operation following a disruption in a timely manner · 2.2.8: The insurer effectively manages relationships with third-party service providers, including intra-group and nth-party relationships Refer to the paper for all principles and objectives.

Registration for the AMICE Congress, the most important event in the European mutual/cooperative insurance calendar, is now open. Secure your place now: https://lnkd.in/ejueKYSb. The ninth AMICE Congress will take place on 03-04 June 2024 in Bilbao, Spain. The host for this edition is AMICE member, Seguros Lagun Aro. Discussions focus on the latest challenges and developments that are affecting the mutual insurance business. The Congress theme is "The Art of Mutuality: People, Purpose, Potential." We will explore the uniqueness of the mutual and cooperative insurance sector, and showcase the mutual difference. #AMICECongress #mutual #insurance #proudtobemutual

The future of insurance claims management looks promising, as Ugis Springis and Janis Dubinskis head to the 13th Annual Insurance Claims Management Summit to share and gain insights on AI's role in the industry. It's a privilege to be part of this exchange of innovative ideas and practices that promise to redefine customer service standards and operational excellence. Follow our updates after the summit! #InsuranceClaims #AI https://lnkd.in/dv4bucq2

Register now for the AMICE Congress, the most important event in the European mutual/cooperative insurance calendar. Secure your place: https://lnkd.in/eyWMazGu. The ninth AMICE Congress will take place on 03-04 June 2024 in Bilbao, Spain. The host for this edition is AMICE member, Seguros Lagun Aro. Discussions focus on the latest challenges and developments that are affecting the mutual insurance business. The Congress theme is "The Art of Mutuality: People, Purpose, Potential." We will explore the uniqueness of the mutual and cooperative insurance sector, and showcase the mutual difference. #AMICECongress #mutual #insurance #proudtobemutual

The #IAIS has launched a #PublicConsultation on the Draft Application Paper Operational Resilience Objectives [and Toolkit]. This represents the first phase of a two-part consultation, in which the IAIS had developed Operational Resilience Objectives for the #InsuranceSector. The Objectives aim to provide a sound and consistent foundation to support supervisory authorities in developing and strengthening their approaches to supervising insurers’ #OperationalResilience. The second phase, to develop a draft #Toolkit is underway and will set out supervisory practices relevant to the Objectives. Following consultation on the draft Toolkit in first half 2025, the two phases of this work will be integrated into a single Application Paper. Comments are invited by: 📅 11 October 2024 ⏰ 24:00 (CEST) 📑 Learn more about the public consultation: https://lnkd.in/e4buU3Qj 📝 Use the consultation tool to provide comments: https://lnkd.in/evfFdn8q A public background session webinar will be held in first half September to present the document and answer any questions from stakeholders. Details on registration are forthcoming. #IAIS2024 #IAISConsultation #InsuranceNews #Insurance #InsuranceSupervisor #ApplicationPaper