Category: Risk Management

April 25, 2024

Insurance industry losses from US severe weather events have already surpassed $10 billion for this year, with the toll for many events still being calculated. However, forecasts for the coming days and weeks could wind up taking the toll on […]

April 25, 2024

In what is perhaps a reflection of an insurance and reinsurance marketplace with more catastrophe risk capital available, broker Marsh has for the first time in a while cited a slowing level of rate increases for catastrophe exposed commercial property […]

April 24, 2024

Global commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Marsh, the insurance brokerage business of Marsh McLennan. […]

April 23, 2024

The General Insurance Association of Japan (GIAJ) has released new insurance claims data for the January 1st M7.5 earthquake that hit near the Noto Peninsula in Ishikawa prefecture, revealing that the claims paid total has risen by around 22% in […]

April 18, 2024

With every new day bringing new use cases, the risks and opportunities presented by generative AI (GenAI) are becoming clearer than ever. At the crux of the balancing act of utilizing GenAI while mitigating the threats it can pose is […]

April 12, 2024

The cost of construction insurance in Florida is having developers second-guess their willingness to invest in the Sunshine State, while business leaders are growing concerned that higher insurance costs may slow Florida’s booming real estate sector. But these fears are […]

April 11, 2024

Demand for mass timber, a sustainable construction alternative, has grown steadily over the past several years. However, a new trend is driving risks for the construction sector: mass timber being used for taller buildings, not just residential structures. According to […]

April 10, 2024

In a recent survey conducted by Airmic, it was revealed that 59% of participants view the ethical concerns posed by artificial intelligence (AI) as part of a broader category of ethical risks within their organisations. The findings also showed a […]

April 10, 2024

Aon, the global insurance and reinsurance brokerage, has partnered with ReliaQuest to help organizations rapidly mature their security programs globally. This collaboration “represents a unique approach to helping companies assess and mitigate cyber risk.” With ReliaQuest’s expertise and technology in […]

April 9, 2024

Re/insurers are essential to rolling out the climate technology needed for industries to decarbonise, according to a recent report by The Geneva Association, the global association of insurance companies. In a race to meet global climate targets, industries around the […]

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 […]

April 8, 2024

Florida’s property insurer of last resort, Citizens Property Insurance Corporation, aims to secure reinsurance coverage of approximately $5.5 billion across a sliver and core layer, as part of its 2024 risk transfer program. As we wrote previously, Citizens projected at […]

April 4, 2024

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 […]

April 3, 2024

With millions of connected vehicles on U.S. roads, personal cars and trucks will likely be the next big target for hackers and cyber thieves, according to specialty insurer HSB, which has launched a new cyber insurance product to help consumers […]

April 2, 2024

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 […]

April 1, 2024

Active insurance pioneer Coalition has announced that its full-stack carrier, Coalition Insurance Company (CIC), is now quoting for its admitted cyber product across the entire US. Shawn Ram, Coalition’s head of insurance, said the move is part of the company’s […]

March 28, 2024

Mosaic Insurance, a specialist firm, has extended its political risk coverage to the US market and launched a new insurance product named Arbitration Award Default Insurance (AADI), offering a global coverage limit of $65 million. AADI is designed to compensate […]

March 28, 2024

According to a recent Reinsurance News poll, over 80% of industry respondents anticipate the use of parametric triggers in reinsurance arrangements to rise in 2024. Parametric news has featured heavily in our pages so far this year, though admittedly, this […]

March 28, 2024

The insurance industry loss from the collapse of the Francis Scott Key Bridge in the US city of Baltimore after container ship Dali struck one of its support columns is estimated to be above the $1.5 billion of the Costa […]

March 27, 2024

Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices […]