US Home Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount: Report

September 20, 2023

Home insurance costs that have soared in much of the US may get even higher. Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according […]

Cyber report calls for product clarity amid “finite” reinsurance capacity

September 13, 2023

Lockton Re has released a new report addressing a pressing issue in cyber insurance: blending distinct first and third-party risks with systemic risks. In its new report titled “The All Risk Cyber (ARC) Challenge: An Evaluation for Simplifying Cyber Reinsurance,” […]

More photo-based claim fraud may soon pair with AI use in insurance

September 7, 2023

Now that virtual and photo-estimating have become commonplace in insurance claims processes, collision repairers likely are aware of the challenges it can potentially cause — undervalued vehicles, undervalued damage, extended length of keys to keys, et cetera. But have you […]

Financial, Risk Management

Fitch Ratings on why its global reinsurance sector outlook has been revised

September 14, 2023

Via: Insurance Business

Fitch Ratings has revised its global reinsurance sector outlook from ‘neutral’ to ‘improving’, a move the credit rating agency said reflects the market’s strengthening financial performance into 2024. At a reinsurance briefing during the RVS conference in Monte Carlo, senior […]


Insurer Mapfre Faces Class Actions Over Data Breach

September 13, 2023

Via: Insurance Journal

Two proposed class actions have been filed in federal court in Massachusetts against Mapfre U.S.A. Corp. and its affiliate Commerce Insurance Co. over a recent data breach that one of the lawsuits contends may have exposed customer data for more […]

Financial, Risk Management

ARC sets new record with $60m payout in 2022, pioneering climate resilience in Africa

September 12, 2023

Via: Reinsurance News

African Risk Capacity Limited (ARC Ltd), Africa’s pioneering sovereign parametric development insurer, has announced a groundbreaking achievement with a record total payout of US$60 million in 2022. This milestone marks the largest payout since the company’s establishment in 2014, underscoring […]