16 October 2023
Cyber remains a difficult risk to model and price, forcing reinsurers to manage their exposures through appetite, pricing, tighter wordings and exclusions, according to a Gallagher Re report...
16 October 2023
AIG has appointed David McElroy to the newly created role of Chairman General Insurance and has announced leaders for its North America and International operations...
16 October 2023
Lloyd’s has launched a tool that models the economic impact of extreme weather events that lead to food and water shocks...
16 October 2023
Commercial rates in the US market stood at +3.72% in the third quarter compared with +5% in the preceding three-month period, MarketScout says...
09 October 2023
Summer wildfires in Canada’s British Columbia have become the costliest event in the province’s history and one of the country’s top 10 natural disasters for insurance payouts...
09 October 2023
Barriers to US homeowners improving resiliency include the expense and a lack of knowledge around where to start, the American Property and Casualty Insurance Association says...
09 October 2023
Profitability at US commercial vehicle insurers has deteriorated this year in a sign that headwinds for the troubled segment are strengthening, AM Best says...
09 October 2023
The Lloyd’s Market Association has published two updated sanctions suspension clauses to assist underwriters in meeting regulatory requirements, building on previous work to provide clarity as a result of trade restrictions affecting Iran...
02 October 2023
Recession risk has become the most serious investment consideration for insurers, while inflation dynamics have been the biggest economic surprise this year, a global survey by BlackRock says...
02 October 2023
Multi-occupancy building insurance reforms that target commission payments and include a best interests duty will start from next year, the Financial Conduct Authority says following a review sparked by soaring premiums...
02 October 2023
Lloyd’s has marked the reopening of its historic Underwriting Room following a refurbishment that it says blends the benefits of digital transactions with human interactions...
02 October 2023
The Association for British Insurers says insurers paid out more than £8.6 million per day in home insurance claims for the second quarter of this year...
02 October 2023
UK Regulators are seeking feedback until December 18 as they prepare to develop rules to boost diversity and inclusion in financial services...
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...