GAD helped develop schemes for the trade credit insurance sector & more…Keep up with what has been happening this week in our latest insurance news round-up…

Black Lives Matters movement highlights BAME representation in insurance

Although there has been a push for greater BAME representation in the insurance industry in the past year, Aston Lark chief executive has said that there is more that can be done to increase BAME in insurance and that the reporting of BAME data could become mandatory.

GAD helped develop schemes for the trade credit insurance sector

The Government Actuary’s Department (GAD) have helped implement new measures to support the credit insurance market by helping to develop trade credit schemes back by £10 billion of government guarantees.

UK government to guarantee £10bn of trade credit insurance

The government is to provide a £10bn guarantee for trade credit insurance in an effort to stop the market seizing up in the wake of the coronavirus crisis.

IOC seeks insurance compensation for delayed Tokyo Olympics

The International Olympic Committee is in talks with insurers over being compensated for the postponed Tokyo Games.

Pandemic to drive significant mortgage reinsurance losses: AM Best

Analysts at AM Best believe that the Covid-19 pandemic will drive “significant” losses for US mortgage reinsurance business, even as the eventual impact still remains unclear.

AXA faces 1,700 ambiguous restaurant contracts over pandemic payouts

French insurer AXA has identified 1,700 contracts signed with restaurant owners in France where the terms are not clear as to whether business interruption losses due to the Covid-19 crisis should be covered, its CEO told Le Monde in an interview.