Month: April 2022

April 29, 2022

Recent figures released from the Association of British Insurers (ABI) show that the damage caused by Storms Dudley, Eunice and Frankin, that hit much of the UK during February 2022, is expected to lead to insurers paying out nearly £500m […]

April 29, 2022

John Doyle, Group President and Chief Operating Officer at broking firm Marsh McLennan (MMC), has said that the insurance and reinsurance markets remain broadly “challenging” for its clients despite some recent deceleration in pricing. Speaking during an MMC Q1 earnings […]

April 28, 2022

To help those whose lives have been impacted by the COVID-19 pandemic, State Farm is offering a $2 million grant to the Local Initiatives Support Corporation (LISC), a nonprofit with which the insurer has a decades-long partnership. The grant will […]

April 28, 2022

Global commercial insurance prices rose 11% in the first quarter, according to Marsh’s Global Insurance Market Index. This continues a trend in moderating rate increases that began in the first quarter of 2021. While this is the 18th consecutive quarter […]

April 27, 2022

Chubb has said its reported net income for Q1 2022 was $1.97bn, after falling from $2.3bn in the previous year. Other figures released by the insurer were that P&C combined ratio was 84.3% compared to 91.8% prior year, and the […]

April 27, 2022

Assets under management at Markel’s flagship insurance-linked securities (ILS) operation Nephila Capital declined slightly during the first-quarter of 2022, ending the period at $8.6 billion. That’s down $200 million from the end of 2021, but as we explained earlier today […]

April 26, 2022

Re/insurance holding company W. R. Berkley Corporation has posted record underwriting income of $274.4 million for the first quarter of the year. The company’s net income similarly more than doubled from $229.5 million to $590.6 million, while operating income moved […]

April 25, 2022

A group that won a victory over energy major Shell last year with a Dutch court order that it deepen greenhouse gas cuts, has warned the company’s board of possible personal responsibility if it fails to implement the verdict. The […]

April 25, 2022

The Ohio Court of Appeals, applying Ohio law, has enforced an employment practices liability (“EPL”) carrier’s “other insurance” clause, holding that the insured’s commercial general liability (“CGL”) policy afforded primary coverage and therefore the EPL insurer had no duty to […]

April 22, 2022

Preliminary flood risk information and updated Flood Insurance Rate Maps are available for review in Johnson County, Texas, FEMA announced this week. Residents and business owners are encouraged to review the latest information to learn about local flood risks and […]

April 22, 2022

Canada’s Alberta government has proposed legislation that will aims to increase the province’s capacity. canada-flagFinance Minister Travis Toews tabled the Insurance Amendment Act in the legislature earlier this week. The Act is intended as a follow-up to last December’s Captive […]

April 21, 2022

“Servant leadership, empathy and execution” are watchwords for Tony McIntosh, executive vice president and partner at The Liberty Company Insurance Brokers. That focus has brought McIntosh success in the insurance space, and led to his inclusion on the Insurance Business […]

April 21, 2022

The cost of a comprehensive car insurance policy in Britain touched an 18-month high in the first quarter and will continue to increase on the back of rising inflation and regulatory changes, a survey showed on Thursday. UK motorists now […]

April 21, 2022

Exports of essential medical devices Russia is dependent upon from the West have been partly restored, reducing the immediate risk of life-threatening shortages after a near-total collapse when the war in Ukraine began, a Western industry source told Reuters. Russia […]

April 20, 2022

More than 90% of auto insurance customers who switch companies save money – but most policyholders are missing out by failing to shop around, according to a new study by insurance comparison site ValuePenguin. According to the study, 92% of […]

April 20, 2022

Analysts at Bank of America (BofA) have argued that the worsening loss experience for European reinsurers observed in recent years is indicative of widespread underwriting issues, rather than a structural problem for the industry at large. The firm attributed the […]

April 19, 2022

With the ambition of holding insurance companies liable for their role in climate change action, California Insurance Commissioner Ricardo Lara has released a new report that details the fossil fuel investments of insurers operating in the state. According to a […]

April 19, 2022

Corvus Insurance has released findings from its second Corvus Risk Insights Index – a compilation of industry trends and data analysis based on the company’s IT security scanning technology, the Corvus Scan. One of the major findings from the report […]

April 18, 2022

Louisiana Insurance Commissioner Jim Donelon has proposed fining five homeowners insurance companies a combined $764,750 following targeted market conduct examinations of their insurance activities between August 27, 2020, and June 30, 2021, a period in which hurricanes Laura, Delta and […]

April 18, 2022

Michigan Governor Gretchen Whitmer announced that nearly a third of eligible auto insurance policyholders in the state have received their $400 refund checks, totaling more than $906 million in refunds to date. Whitmer cited data from the Michigan Department of […]