“Ultimate failure” in £30m British Steel claim & more…Keep up to date with the latest insurance news in our weekly round-up…

Genetic testing among the top emerging risks facing insurers worldwide

The increasing availability of genetic testing has been identified as a key risk for life insurers to be aware of, with considerable implications for data management and regulatory constraints. “The major challenge for life insurers is to obtain adequate and risk-relevant information during the underwriting process,” the report explains. “Generally, regulation disallows the use of genetic information in underwriting. A new generation of genetic tests is only likely to widen the information gap between insurer and insured.”

Mactavish chases “ultimate failure” £30m British Steel claim

Mactavish has revealed it is representing British Steel in a disputed £30m insurance claim with Zurich Insurance and other providers including Liberty.

Willis Re & Concirrus partner on specialty re/insurance using IoT

The global reinsurance arm of broker Willis Towers Watson, Willis Re, has entered into a strategic partnership with InsurTech firm Concirrus to transform specialty re/insurance products by leveraging data from the Internet of Things.

Liberty Mutual Reinsurance launches operation using Lloyd’s Mexico platform

Liberty Mutual Reinsurance the reinsurance arm of Liberty Specialty Markets, announced it has launched a reinsurance operation under Lloyd’s registration in Mexico to service clients in Mexico and Central America.

Gibraltar insurer, Lamp, goes into liquidation amid insolvency

Unrated insurer, Lamp applied for liquidation at the Supreme Court of Gibraltar late last week.