Law firm outlines changes to insurance industry under new act & more…Keep up with what has been happening this week in our latest insurance news round-up…
Law firm outlines changes to insurance industry under new act
Insurance companies and intermediaries face significant operational changes following the passage of the Contracts of Insurance Act, according to an analysis published by law firm MinterEllisonRuddWatts.
Lack of expertise is biggest challenge for insurers in implementing AI
To bridge the customer knowledge gap and build trust, insurers should focus on transparency and clear communication regarding AI-driven decision-making.
WTW‘s Willis appoints new risk head in Japan
Willis, a WTW business, has appointed Kohsuke Komorizono as head of risk and analytics for corporate risk and broking in Japan.
Aon Securities arranges $500m surplus note for California-based CSAA
Insurance and reinsurance broker Aon’s investment banking and capital markets division, Aon Securities, has structured and placed $500 million surplus notes issued by Northern California insurer CSAA Insurance Exchange, Reinsurance News understands.
LCP advises on £370 million buy-in between the TUI Group UK Pension Trust and Legal & General
Legal & General Assurance Society Limited has completed a £370 million buy-in with the BAL section of the TUI Group UK Pension Trust, with LCP acting as the lead transaction adviser, offering both actuarial and investment guidance to the Trustee.
