Month: September 2022

September 30, 2022

Property reinsurance renewals at mid-year 2022 “experienced significantly tighter conditions” than the renewals at January 1, according to Guy Carpenter. The Guy Carpenter US Property Catastrophe Rate on Line Index – a proprietary index of rate-on-line movements on brokered excess […]

September 30, 2022

This week, nine new insurtechs have joined the annual cohort program for Lloyd’s Lab. COVU hired a number of new executives. Cover Whale unveiled two new technology platforms. Stere raised a seed financing round. Marsh McLennan’s Guy Carpenter arm will […]

September 29, 2022

Connecticut’s insurance regulator has provided commercial insurers with updated guidance on “defense within limits” policy provisions including the lines of insurance on which they may be included and the consumer disclosure required. The guidance from the Connecticut Insurance Department (CID) […]

September 29, 2022

As I type, Hurricane Ian is bearing down on the west coast of Florida and looking likely to make landfall in the Port Charlotte area. Having intensified to a category four storm – with winds of 155mph just a couple […]

September 28, 2022

The Florida Office of Insurance Regulation (OIR) has requested a judge to place FedNat Insurance into receivership, citing the insurer’s precarious financial situation. The Sunrise, FL-based FedNat is estimated to have about 1,500 open claims in another state, Louisiana. Its […]

September 28, 2022

According to a recent report by DBRS Morningstar the risk of a prolonged Russian invasion of Ukraine will further complicate the resolution of aircraft leasing insurance claims which would take years to settle, with experts believing that this would require […]

September 27, 2022

The Arbella Insurance Group has announced that Matt Postulka has rejoined the company as vice president and chief information officer. He will report to Paul Brady, senior vice president and head of technology and operations. In his new role, Postulka […]

September 27, 2022

GIA Map is betting it has a successful future helping carriers and others understand present and future risk of wildfires and other hazards. Launched in 2017 in California, the tech startup is an underwriting hazard system for both underwriting and […]

September 26, 2022

Covr Financial Technologies has announced a collaboration with Citi to help its US financial advisors and clients more effectively integrate life insurance and long-term care coverage into their financial plans. Citi’s advisors and clients can use Covr’s platform to access […]

September 26, 2022

Analysts at JP Morgan are confident that the reinsurance market will show further hardening in 2023, despite already seeing several years of prices increasing. The report states that at the 2022 mid-year renewals, the market saw some business unable to […]

September 23, 2022

A new report by Beazley Plc has taken a deep dive into the opportunity-rich world of digital health businesses, a majority of which, it turns out, are not adequately insured. The Spotlight on digital health and wellness 2022 report was […]

September 23, 2022

Executives at Munich Re say the company is aiming to “push the boundaries of insurability” in its efforts to help understand and mitigate the impacts of climate change. Speaking at a briefing during the 2022 RVS event in Monte Carlo […]

September 22, 2022

Berkshire Hathaway Specialty Insurance (BHSI) announced the introduction of new property damage, general liability, D&O, professional indemnity and marine cargo insurance policies in Spain. “Launching our proprietary policy wordings in Spain is indicative of our commitment to leading domestic and […]

September 22, 2022

New data from Citizens Property Insurance – Florida’s insurer of last resort – reveals that it had added about 8,000 policies last week, bringing the insurer’s total policyholder count to just over a million. As of September 16, Citizens’ total […]

September 21, 2022

Insurance broker Gallagher has announced the appointment of Tim Wright as a Consultant within its global aerospace practice. In his new role Wright will be responsible for supporting international space clients with risk management and specialist insurance advice, as well […]

September 21, 2022

An insurance company that was ordered to pay more than a billion Dirhams in damages for a 2015 New Year’s Eve fire in Dubai has lost a civil lawsuit that it filed to try and recover the money. Two years […]

September 20, 2022

A coalition of pension funds and insurance companies that includes Allianz SE, the California Public Employees’ Retirement System and Zurich Insurance Group AG have committed to managing $7.1 trillion of assets in line with the Paris Agreement’s goal of limiting […]

September 20, 2022

Erie Insurance’s Future Focus internship program has been named one of the industry’s top 50 best internship programs by Rising Insurance Star Executive (RISE), an industry group founded to help advance young talent in the insurance sector. This is the […]

September 19, 2022

Hurricane Fiona has impacted Puerto Rico heavily with the island experiencing a historic rainfall event, as two-foot of rains are forecast from the storm, with locally maximum amounts of up to 30 inches warned. The storm is largely causing impacts […]

September 16, 2022

In a new report, Fitch Ratings has warned that insurance sector outlooks in several markets across the world could move to deteriorating if both high inflation and rising interest rates continue to persist beyond the rating agency’s latest forecasts. Analysts […]