'There is no doubt that climate change increases volatility, frequency and also severity,' says senior di...
Ongoing Canadian wildfires not expected to break 2016 insured loss record
Smoky haze from wildfires in Canada diminish visibility and degrade air quality in New York City on June 7...
Smoky haze from wildfires in Canada diminish visibility and degrade air quality in New York City on June 7...
Article / 11 months ago
Fla. residential property insurers post back-to-back $1B+ losses
Costs associated with litigation and Hurricane Ian pushed Florida's domestic residential property insurers deeper into the red in 2022....
Costs associated with litigation and Hurricane Ian pushed Florida's domestic residential property insurers deeper into the red in 2022....
Article / 1 year ago
Insurers unable to tally up true cost of Ukraine war
The insurance industry is struggling to gauge the cost of Russia's war with Ukraine a year after the conflict began....
The insurance industry is struggling to gauge the cost of Russia's war with Ukraine a year after the conflict began....
Article / 1 year ago
US P&C 2023 outlook: reinsurance costs, M&A slowdown, E&S evolution
A hard market, higher reinsurance costs and ongoing low M&A activity are in the cards for property and casualty insurers in the new year.
A hard market, higher reinsurance costs and ongoing low M&A activity are in the cards for property and casualty insurers in the new year.
Article / 1 year ago
Hurricane Ian exacerbates misery for Florida's tired P&C players
The devastation of Hurricane Ian has added to the financial strain under which the carriers that constitute the troubled Florida domestic residential insurance...
The devastation of Hurricane Ian has added to the financial strain under which the carriers that constitute the troubled Florida domestic residential insurance...
Article / 1 year ago
Prolonged sterling weakness to exacerbate UK claims inflation
The pound fell sharply against the dollar after the U.K. government announced a package of tax cuts
The pound fell sharply against the dollar after the U.K. government announced a package of tax cuts
Article / 2 years ago
Catastrophe losses drop sharply YOY in Q1 for many big US insurers
Liberty Mutual reported the largest amount of losses during the quarter at $656 million, though that was down from $1 billion in the first quarter of 2021. Allstate was next with losses of $475 million, compared to $833 million a year earlier.
Liberty Mutual reported the largest amount of losses during the quarter at $656 million, though that was down from $1 billion in the first quarter of 2021. Allstate was next with losses of $475 million, compared to $833 million a year earlier.
Article / 2 years ago
Insurers' $15B Russia aviation puzzle will take years to solve
The industry expects disputes over coverage triggers and which types of cover will apply to the hundreds of foreign-owned jets stranded in Russia as a result of the Ukraine war...
The industry expects disputes over coverage triggers and which types of cover will apply to the hundreds of foreign-owned jets stranded in Russia as a result of the Ukraine war...
Article / 2 years ago
P&C insurers seeing catastrophe loss respite in Q4'21
Claims may be manageable for underwriters during the period, but Jefferies analyst Philip Kett cautioned of possible loss creep...
Claims may be manageable for underwriters during the period, but Jefferies analyst Philip Kett cautioned of possible loss creep...
Article / 2 years ago
Insurers' COVID-19 claims battle far from over in UK as big cases loom
Insurers may have to wait several years to get clarity on their final claims bill, which could be higher than insurers envisaged if policyholders prevail in court...
Insurers may have to wait several years to get clarity on their final claims bill, which could be higher than insurers envisaged if policyholders prevail in court...
Article / 2 years ago
