Non-life alternative capital grew 11.5% to $107bn in 2023: Gallagher Re

April 8, 2024

Investor inflows to the catastrophe bond market and other areas of insurance-linked securities (ILS) helped non-life alternative reinsurance capital rise by 11.5% to a new record high of $107 billion by the end of 2023, according to the latest data […]

Minnesota Homeowners Report Surge in Insurance Complaints

March 22, 2024

Minnesota homeowners insurance complaints rose 108% from 2020 to 2023, with of those complaints from homeowners concerned their claims were denied or they faced high out-of-pocket costs after damage from wind and hail. The Minnesota Department of Commerce (DOC) shared […]

Navigating the New Frontier: Insurance for Artificial Intelligence Risks

March 5, 2024

On 27 December 2023, The New York Times filed a lawsuit against OpenAI and Microsoft alleging copyright infringement in connection with OpenAI’s popular ChatGPT technology. This lawsuit is part of the first wave of artificial-intelligence-related lawsuits that have targeted some […]

Financial, Risk Management

Jamaica returns for $150m+ World Bank cat bond to cover four hurricane seasons

April 4, 2024

Via: Artemis BM

The Government of Jamaica has returned to the catastrophe bond market as anticipated, with an initial target to secure at least $150 million in parametric named storm disaster insurance protection from the capital markets through this IBRD CAR Jamaica 2024 […]

Financial, Risk Management

American European looks to upsize Charles River Re cat bond to $125m

April 2, 2024

Via: Artemis BM

American European Insurance Company is now seeking up to $125 million in named storm reinsurance protection for a coastal property book that is originated via MGA ShoreOne, through its debut Charles River Re Ltd. (Series 2024-1) catastrophe bond issuance. American […]