Category Archives: Reinsurance

IFRS17: More snakes than ladders for property & casualty insurers?

Close up of a hand, moving a pawn around the holes of a wooden Snakes and Ladders game board

On first sight, the requirements of the new IFRS17 global accounting standard that will come into effect on January 1, 2021, appeared none too daunting for property and casualty (P&C) insurers. In general, such insurers appeared pretty relaxed, even nonchalant, … Continue reading →

Insights from the Willis Re Flood Club: the weaknesses and strengths of flood modelling

cars in flooded parking lot

When industry experts gathered to consider the state of flood modelling, they discovered a disconnect between theory and reality that can leave insurers under some expensive water. So what’s next for modelling approaches? Insurers are worried about their flood exposure. … Continue reading →

Energy Market Review 2018: Energy insurers remain caught between a rock and a hard place

Electrical worker among power lines

As we explain in our latest Energy Market Review, 2017 was an interesting year for both the energy and (re)insurance industries, with the good news of the oil price recovery and increased activity in the upstream sector energy industry being … Continue reading →

Understanding the motivations behind medical malpractice

surgeons leaning over a surgical table with a light overhead

In our last post, we examined the motivations of so-called rogue medical practitioners— physicians, nurses and other medical personnel responsible for causing multiple patient injuries. For the most part, such bad actors may be described as either reckless, financially motivated, … Continue reading →

The Sharing Economy hits InsurTech

WeGoLook CEO, Robin Smith (right), presented her company’s offering to about 40 Willis Towers Watson colleagues in Chicago on November 30, 2017 during the monthly CHI-BAR event. Also pictured were the organizers and hosts of the event, Andrew Johnston (Head of InsurTech, left) and Greg Moore (Broker, center).

WeGoLook CEO, Robin Smith (right), presented her company’s offering to about 40 Willis Towers Watson colleagues in Chicago on November 30, 2017 during the monthly CHI-BAR event. Also pictured were the organizers and hosts of the event, Andrew Johnston (Head … Continue reading →

Seasonal climate forecast for Europe

A thermometer in a window, showing a temperature of -25°C

At this time of year, in the midst of contract renewals, property insurers are keeping an eye on the long-range forecasts for the rest of the winter in Europe. We’ve all seen the headlines in the tabloids about the next … Continue reading →

4 key takeaways from the 2017 ACORD Innovation Finals

InsurTech

For the last three years, ACORD has sought to accelerate digital transformation in insurance through its innovation challenge, a competition that highlights tech-driven solutions from some of the best and brightest in the business. Boston played host to this year’s … Continue reading →

Assessing the aftermath: Lessons learned from Hurricane Irma

hurricane irma risk mitigation

Soon after hurricane Irma struck, Willis Re sent a team to survey the property damage in southwest Florida. After four days, and 900 miles, the team completed its assessment, which can be found here. Among the key lessons learned was … Continue reading →

Post-hurricane confusion in the energy insurance markets: 3 reasons why a market turn is too early to call

post-hurricane

Energy insurers were in a bullish mood as delegates gathered at the critical Baden-Baden reinsurance meeting last week. Their frame of mind didn’t come as a surprise, given all the media speculation on how insurance markets will respond in the … Continue reading →

A hurricane season of record-breaking storms – Part 2: What will the future hold?

This is a continuation of a previous blog post, A hurricane season of record-breaking storms – Part 1: Historical context With every large storm, there are always questions concerning climate change. Can storms such as those we’ve seen in recent … Continue reading →