Geo-Political, Risk Management
September 16, 2022
Via: Reinsurance NewsReinsurers are showing a diverging appetite for Florida property catastrophe risk, says Moody’s, ahead of further anticipated price increases and coverage constraints going into 2023. The rating agency noted that many reinsurers chose to hold steady or cut their Florida […]
September 15, 2022
Via: Insurance JournalMango Questions State-Run Ratings Agency Idea Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best financial rating firm said. Despite that, AM Best is willing […]
September 15, 2022
Via: Reinsurance NewsSenior executives at Munich Re have warned that the re/insurance industry “might lose relevance” if it doesn’t find ways to meet the growing demand for cyber cover with new products and services. Speaking at the reinsurer’s 2022 RVS briefing in […]
September 14, 2022
Via: Insurance JournalThe root level is the highest permission level of access to a computer system, and most cybersecurity professionals work hard to ensure criminals don’t gain root access to a system. However, the word ‘root’ has another meaning for Raíces Cyber, […]
Geo-Political, Risk Management
September 14, 2022
Via: Insurance BusinessUS insurers have minimal investment exposure to the insurance-linked securities (ILS) and catastrophe bond market, despite the fact that this asset class has seen significant growth in recent years, according to a new report by AM Best. In its recent […]
September 12, 2022
Via: Insurance BusinessIndependent insurance broker Lockton has formed a capital markets unit within its global reinsurance business Lockton Re. Led by Zach Breslin, Lockton Re Capital Markets (LRCM) is aimed at providing complementary solutions to existing client offerings by accessing broader pools […]
September 12, 2022
Via: Reinsurance NewsGreg Case, the Chief Executive Officer (CEO) of brokerage Aon, believes that the insurance and reinsurance industry is faced with a “generational opportunity” to make a difference. Case addressed an audience this morning at the PwC breakfast briefing in Monte […]
September 9, 2022
Via: Insurance BusinessFor Ascend, 2022 has been a very good year, even as the technology investor market hit a big downturn. Ascend launched in 2021 with its insurance payments platform. The company’s business model helped it raise $30 million in Series A […]
September 9, 2022
Via: Insurance BusinessArturo enacted a number of key leadership changes. Sayata hired a chief distribution officer. Zywave launched a group of new products targeted at the carrier audience. CyberCube is betting a new partnership will expand the audience for its cyber risk […]
September 8, 2022
Via: Reinsurance NewsA new note from S&P says that Bermuda has become a global financial hub for property/casualty re/insurance, with a growing presence in life re/insurance. This, said the firm, had happened due to the amount of related premiums written by Bermudian […]
September 8, 2022
Via: Artemis BMHillridge Technology Pty Ltd, an Australian software technology company that aims to help users address the climate protection gap through parametric insurance, has raised a $2.3 million seed round and now seeks to expand further into Asia Pacific. Using parametric […]
September 7, 2022
Via: Insurance BusinessThe brokerage industry in California remains resilient despite facing various challenges this year. Insurance Business America’s (IBA) 5-Star Brokerages – California awards recognize and celebrate five brokerages that distinguished themselves in 2020 and 2021 across 11 criteria. IBA completed the […]
September 7, 2022
Via: Reinsurance NewsInternational re/insurance broker Howden has announced the launch of a carbon credit invalidation insurance solution to increase confidence in the Voluntary Carbon Market (VCM). To develop the product, Howden worked with the carbon finance business, Respira International, and Nephila Capital, […]
September 6, 2022
Via: Insurance JournalGlobal reinsurers’ capital levels dropped by 11% in the first half of 2022 to $647 billion, hurt by market declines, though higher interest rates helped their liability positions, broker Gallagher Re said on Tuesday. Reinsurers, who insure the insurers, have […]
September 6, 2022
Via: Insurance BusinessResidents of southern Oregon who have suffered losses and damages from the 2020 Almeda and Obenchain wildfire have been given more time to apply for insurance, as the Oregon Division of Financial Regulation requests insurers to extend the time limit. […]
Financial, Geo-Political, Risk Management
September 2, 2022
Via: Artemis BMGlobally, insurance and reinsurance market losses from flooding have accelerated significantly, with a doubling in the total in a decade to reach US $80 billion over the 2011 to 2020 period, but then another acceleration into 2021 when they reached […]
September 2, 2022
Via: Artemis BMInsurance-linked securities (ILS) funds, as a group tracked by ILS Advisers and Eurekahedge, have delivered their best single monthly return of the year since January, with the average return across the group of ILS funds reaching 0.24% in July 2022. […]
September 1, 2022
Via: Insurance JournalAn insurer that mishandled a liquor liability claim resulting from a fight after a beer pong tournament has discovered the tab is considerably bigger than it first thought. Hospitality Mutual Insurance Co. will have to pay $500,000 plus legal costs […]
September 1, 2022
Via: Insurance BusinessFlorida’s Office of Insurance Regulation (OIR) is looking into the possibility of raising the $700,000 cap on policies sold by the state insurer of last resort, Citizens Property Insurance Corp. By law, Citizens is prohibited from providing replacement cost coverage […]