Flood-threatened US community pilots parametric project
21 October 2024
A California town that lies on a floodplain is participating in a parametric insurance pilot project funded through a two-year $US200,000 ($299,000) grant...
International
Howden report backs climate-friendly insurance model
21 October 2024
The insurance industry is well positioned to advance and deliver investment into “nature-based” solutions, according to a report from Howden and climate change advisory group Pollination...
Allianz climbs global brand rankings
21 October 2024
Allianz has been dubbed a “fastest riser” after cracking the top 30 in a list of the 100 most valuable brands in the world, while Axa has retained its top-50 spot...
Milton losses could hit $74 billion: Fitch
14 October 2024
Hurricane Milton insured losses are estimated at $US30-$US50 billion ($44-$74 billion), with the ultimate cost depending on repair supply constraints as the US southeast also recovers from Helene’s impact two weeks earlier, Fitch Ratings says...
US rates poised for further rises after Helene, Milton
14 October 2024
US commercial and personal lines rates increased in the third quarter and are expected to rise further over the next few months to price in the impact of hurricanes Helene and Milton, MarketScout says...
‘Non-attack’ cyber claims surge
14 October 2024
Class actions and related claims over “non-attack” cyber incidents such as wrongful use of personal data have increased after regulatory and legal changes, Allianz says...
Major conflict costs could reach $50 trillion, Lloyd’s says
14 October 2024
Lloyd’s says the global economy could be exposed to losses as high as $US50 trillion ($74.30 trillion) over the next five years should a “hypothetical geopolitical conflict” occur...
New hurricane threatens Florida as states reel from Helene damage
07 October 2024
Hurricane Milton is expected to hit Florida this week as the US southeast continues to deal with widespread damage caused when Helene crossed the coastline less than two weeks ago...
US think tank proposes home disaster cover alternative
07 October 2024
Housing resilience agencies should be created to take over US home disaster insurance and risk reduction oversight as more people are left unprotected when natural catastrophes hit, the Climate & Community Institute says...
Flood threat has ‘far-reaching consequences’ for world: Moody’s
07 October 2024
About 2.4 billion people, or one-third of the world’s population, live in areas exposed to inland flood risk, according to a Moody’s white paper...
Marsh McLennan buys US broker for $11 billion
07 October 2024
Marsh McLennan will pay $US7.75 billion ($11.2 billion) to acquire US broking business McGriff Insurance Services...
Hurricane Helene hits Florida, brings widespread flooding
30 September 2024
Loss estimates from Hurricane Helene, which crossed the Florida coastline last week, are expected to climb as the event brings widespread catastrophic flooding...
Ebix global head suspended pending inquiry outcome
30 September 2024
Ebix Inc CEO Robin Raina has been suspended pending the outcome of an inquiry investigating reported financial irregularities, the Delhi-based company that acquired the business says...
Lloyd’s welcomes change easing regulatory burden for agents
30 September 2024
Lloyd’s has welcomed changes that will ease the regulatory burden for the market’s managing agents...
Global marine cargo premiums rise to $32 billion
30 September 2024
Global cargo premiums increased 6.2% last year to $US22.1 billion, the International Union of Marine Insurance says...
Lloyd’s backs funding for projects in developing nations
30 September 2024
Lloyd’s has partnered with the World Bank Group’s Multilateral Investment Guarantee Agency to aid sustainable growth in developing countries...
US results bounce back after $35 billion half-year loss
23 September 2024
The US property and casualty sector recorded a $US3.8 billion ($5.6 billion) net underwriting gain in its latest six-month results, rebounding from a $US24 billion loss ($35.5 billion) a year earlier as personal lines improved, AM Best says...
Lloyd’s names ex-Treasury, McKinsey figure as next chair
23 September 2024
Lloyd’s has named Charles Roxburgh as its next chairman, effective from May...
HDI creates energy risk ‘one-stop shop’
23 September 2024
HDI Global has established an energy unit after client feedback indicated more support is needed in dealing with rapid transformation...
Axa XL names reinsurance capital head
23 September 2024
Axa XL has appointed Chris Caponigro as head of reinsurance capital management...