25 September 2023
Climate change will amplify catastrophe costs already fuelled by increased insured values and development in high-hazard locations, with impacts “extremely complex”, Lloyd’s Chief of Markets Patrick Tiernan says...
25 September 2023
AM Best has revised its outlook on the US homeowners insurance segment to negative from stable due to high levels of natural catastrophes combined with challenges such as inflationary pressures and elevated reinsurance costs...
25 September 2023
The California Government has launched a series of executive actions that will allow insurers to consider climate change and other future risks when assessing a property’s rate in a move aimed at addressing the state’s ongoing insurer exodus crisis...
25 September 2023
The International Union of Marine Insurance says all lines of business have reported an uplift in global premium base and loss ratios have improved, particularly for hull and cargo.
25 September 2023
The Financial Conduct Authority has issued a warning to UK insurers after a report showed some insurance products, particularly motor add-ons, are failing consumers...
18 September 2023
Reinsurers have put the case for further reinsurance price rises at the January renewals as the industry prepares for annual negotiations following the Rendez-Vous de Septembre event in Monte Carlo...
18 September 2023
More than 80% of the increase in US severe convective storm losses is likely due to exposure growth rather than a new normal of elevated storm activity driven by climate impacts, Aon says...
18 September 2023
The financial impact from the Morocco quake is expected to be “manageable” and is likely to trigger a maximum payout of $US270 million from a parametric cover that has been in place since 2020, AM Best says in a report...
18 September 2023
Hong Kong flooding that’s been described as a 1-in-500-year event may have implications for the upcoming reinsurance renewals, AM Best says...
18 September 2023
The US property & casualty industry recorded a $US24.5 billion net underwriting loss in the first half – close to matching the full-year loss of $US26.5 billion recorded in 2022, AM Best says...
18 September 2023
Munich Re, Gallagher Re and Bitsight are founding members of a steering group created by catastrophe risk modeller Moody’s RMS...
18 September 2023
Zurich has appointed Dirk De Nil as its new Global Head of Zurich Resilience Solutions...
18 September 2023
FM Global has announced a second year of resilience credits worth about $US350 million for its clients to support climate mitigation solutions and strategies...
11 September 2023
The annual reinsurance Rendez-Vous de Septembre is underway in Monte Carlo amid relatively positive outlooks for the sector following rate increases and changes to terms and conditions...
11 September 2023
Insurance-linked securities are a key source of potential new cyber reinsurance capacity, and issuers should put aside concern over a "perceived correlation” between cyber events and stock market performance, Guy Carpenter says...
11 September 2023
At least five large US property insurers have told regulators that extreme weather patterns have led them to stop providing cover in some regions, exclude various weather events or raise premiums and deductibles, the Washington Post has reported...
11 September 2023
Lloyd’s has rebounded to report a half-year profit as rising premiums and fewer major catastrophes drove an improved underwriting result and the investment performance turned around...
11 September 2023
The 100-year anniversary of Japan’s devastating Great Kanto Earthquake has highlighted the potential for up to $US150 billion in insurance losses from a similar event today due to the concentration of population and wealth in the Tokyo region...
04 September 2023
Cyber is still the fastest growing sub-sector of the global insurance market but unlocking its potential will depend heavily on reinsurers’ appetite to underwrite the risk, S&P Global Ratings says in a report...
04 September 2023
Insured losses in Florida related to Hurricane Idalia are unlikely to equal those from 2022’s Hurricane Ian, though property insurers’ 2023 underwriting results "will be under pressure,” AM Best says...