Heavy Ida losses to trigger Progressive’s reinsurance recoveries

September 17, 2021

The Progressive Corporation has confirmed the triggering of its excess-of-loss reinsurance cover as a result of losses incurred by hurricane Ida. The insurer notes Ida has so-far driven reported and IBNR losses of $510 million across the US Gulf Coast […]

Mexico struck by M7.0 quake. World Bank cat bond appears safe

September 8, 2021

A magnitude 7.0 earthquake has struck the Pacific coast of Mexico close to the tourist heavy area of Acapulco. At this stage, it appears the World Bank facilitated IBRD / FONDEN 2020 parametric catastrophe bond that provides the Mexican government […]

Ground control to Major Tom: Sign your coverage forms and put your helmet on

September 2, 2021

Category: News

Insurance provider battlefront has announced the launch of travel insurance coverage for space tourists. The new policy is a customized offer with benefits available including accidental death and permanent dismemberment. Underwritten by certain underwriters at Lloyd’s, the policy can be […]


Texas Reduces Insurance Complaint Processing Times by 80%

September 17, 2021

Via: Insurance Journal

The Texas Department of Insurance eliminated a backlog of consumer complaints and reduced processing times by 80% as part of the agency’s ongoing modernization initiative, the regulatory agency says. “Customer service is a priority, and that hasn’t changed during the […]

Financial, Risk Management

Further reinsurance rate increases needed through 2022: Berenberg

September 16, 2021

Via: Reinsurance News

Analysts at Berenberg believe that hardening market conditions will continue through into 2022, as reinsurers seek to earn returns above their cost of capital in the face of ultra-low interest rates, social and cost inflation as well as a prolonged […]


Amwins Global Risks appoints new COO and Director of Operations

September 16, 2021

Via: Reinsurance News

Amwins Global Risks, the international arm of the global specialty insurance broker, has announced the appointment of Colm Hensman as Chief Operating Officer (COO) and Lindsey Davies as Director of Operations. Hensman joins as COO from specialist insurer Beazley, where […]