Month: December 2021

December 14, 2021

Aon analysis of the devastating tornado outbreak which swept several US states over the weekend echos other outlet’s in its expectation for both economic and insured losses to reach into the billions of dollars. Analysts note how the severe convective […]

December 13, 2021

Marsh McLennan, in partnership with The Nature Conservancy in California has released new research that demonstrates the financial benefits that accompany nature-based approaches to wildfire risk reduction. marsh-mclennanThe report uses the 2018 Camp Fire in California as a case study, […]

December 13, 2021

Lloyd’s managing agent Argenta says the freak tornado outbreak which devastated multiple US states over the weekend could drive industry losses as high as $7 billion. Analysts believe the most suitable comparison to a past event is a derecho that […]

December 10, 2021

Generali has joined forces with Accenture and Vodafone Business to create a package of cyber insurance services for corporate and small and medium-sized enterprise (SME) clients. The services include cyber risk assessments, phishing simulations and learning programs, designed to help […]

December 10, 2021

Max Carter, CEO of specialist insurance broker, New Dawn Risk has expressed concern over an expected post-COVID claims crisis in healthcare. Commenting on how COVID-19 has impacted the healthcare system, Carter said: “If there is one thing that parties on […]

December 9, 2021

Goosehead, a technology independent carrier, has announced its entrance into the life insurance space through a strategic alliance with Ethos Life. Through Goosehead’s Digital Agent Platform, clients can now access coverage online without blood tests or medical exams. This partnership […]

December 9, 2021

During the height of the COVID-19 pandemic in 2020, the shutdowns gave insurers and corporate risk managers a brief reprieve from the boom in huge jury verdicts for personal accident claims. However, when courts reopened in 2021, the juries went […]

December 8, 2021

Specialist insurer Markel has announced a new strategic collaboration with Brownyard MacLean Security Insurance Services (BMSIS), a US-based managing general underwriter (MGU) and program administrator focused on the private security insurance market. The newly created BMSIS provides insurance products and […]

December 8, 2021

A Minnesota property owner has a right to an appraisal to determine the cause of a loss even if the insurer contends the damage existed before it issued its policy, a panel of the US 8th Circuit Court Appeals ruled […]

December 7, 2021

Fitch Ratings analysts forsee double-digit premium rate rises for property catastrophe cover in 2022, following an insured loss total of close to $100 billion in 2021 and the prospect of natural catastrophe claims increasing in frequency and severity. In fact, […]

December 7, 2021

Farmers Insurance Group is now targeting up to $160 million of collateralized reinsurance protection from its first catastrophe bond, as the Topanga Re Ltd. (Series 2021-1) issuance grew during marketing, while its pricing was fixed at the upper-end of guidance. […]

December 6, 2021

Arthur J. Gallagher & Co. announced it has completed its 30% minority investment in Middle East & North Africa (MENA) specialist insurance broker ACE. Financial details of the deal, which was first announced in April, were not disclosed. Under the […]

December 6, 2021

Analysts at Bank of America Securities believe that the fundamentals for non-life insurers remain attractive going into 2022, and predict that the sector is on track to deliver its best returns on equity (ROEs) in over a decade. Overall, analysts […]

December 3, 2021

Slow responses to damage claims. Constant switch-ups of insurance adjusters assessing the destruction. Low payment offers forcing people unnecessarily into litigation to get a fair deal. Louisiana lawmakers and others said Wednesday that those are the problems they’re seeing and […]

December 3, 2021

Insurance-linked securities (ILS) funds reported a wide range of performance in October 2021, as despite a quiet month for catastrophe losses, previous cat events drove loss reserve adjustments across the market. Overall in October, private insurance-linked securities (ILS) funds, that […]

December 2, 2021

Storm Hendrik-Ignatz, also known as storm Aurore, which impacted parts of north-western and central Europe from October 20th to 21st, is expected to drive insurance industry losses of €311 million, according to an initial estimate by PERILS. Storm Aurore was […]

December 2, 2021

Convex Group has received regulatory approval to write European business via the UK branch of its recently establish Luxembourg-based European insurer. UK regulators the the Financial Conduct Authority and the Prudential Regulation Authority gave the go-ahead to Convex to start […]

December 1, 2021

Arthur J. Gallagher & Co. announced it has completed the $3.25 billion acquisition of nearly all of the treaty reinsurance brokerage operations of Willis Towers Watson plc. Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher […]

December 1, 2021

Obsidian Insurance Holdings, Inc., a program fronting insurance holding company, has announced a new carrier partnership with Steadily, a Texas-based insurtech that specialises in landlord insurance. The new program with Obsidian will offer insurance solutions that enable landlords to get […]