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Category: Trends


Risk Management, Trends

US property cat reinsurance rates-on-line up 30.1% at January renewals: Guy Carpenter

February 2, 2023

Via: Reinsurance News

The Guy Carpenter U.S. Property Catastrophe Rate on Line Index increased by a significant 30.1% at the January 2023 reinsurance renewals, taking rates to an all-time high, according to the latest data from the global reinsurance broker. Guy Carpenter, which […]


Risk Management, Trends

High inflation & spikes in interest rates cause challenging renewal season: Aon

January 31, 2023

Via: Reinsurance News

Aon’s January Reinsurance Market Dynamics report: Macro Conditions: Extreme Volatility, cites 2022 as being tricky for the industry, with inflation hitting multi-decade highs, as well as interest rates rising to an almost “unprecedented pace”. The report also noted that equities […]


Risk Management, Trends

S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023

January 30, 2023

Via: Insurance Journal

A hard market in short-tail lines – such as property and property catastrophe – across global geographies is likely to continue throughout 2023, after beginning the year with multi-decade-high pricing increases during the January 2023 reinsurance renewals, according to a […]


Risk Management, Trends

Allstate, GEICO, State Farm… where are customers going amid increased auto insurance shopping?

January 25, 2023

Via: Insurance Business

J.D. Power has published the latest edition of its auto insurance quarterly shopping trends report, and found that in the fourth quarter of 2022, there was actually a noticeable increase in auto insurance shopping activity in America. The report – […]


Risk Management, Trends

Swiss Re’s Mumenthaler encouraged by net zero path as dynamics shift: WEF 2023

January 17, 2023

Via: Reinsurance News

As the World Economic Forum’s (WEF) Alliance of CEO Climate Leaders, which now includes 127 “seriously committed” executives from some of the world’s largest companies, continues to make progress, Christian Mumenthaler, CEO of reinsurance giant Swiss Re, is seeing the […]


Risk Management, Trends

PRA sets out its supervision priorities for insurers in 2023

January 11, 2023

Via: JD Supra

The key areas of focus in 2023 will be: Financial resilience The combination of the on-going recession and high inflation provide a very challenging economic outlook for insurers. For life insurers, the PRA has identified the potential threat of firms […]


Risk Management, Trends

Chubb launches new global climate business

January 4, 2023

Via: Reinsurance News

P&C insurer Chubb, has announced the launch of a new global climate business unit, drawing on the company’s technical capabilities in underwriting and risk engineering, and also bringing together Chubb units engaged in traditional, alternative and renewable energy, climate tech, […]


Risk Management, Trends

Reinsurers “aggressively” pushing back secondary perils ahead of 1/1: KBW

December 14, 2022

Via: Reinsurance News

Analysts at KBW have reported that secondary perils that had previously been reinsured are now being “aggressively pushed back” toward primary insurers ahead of the January 1st reinsurance renewals. KBW provided some comments on the state of the global reinsurance […]


Risk Management, Trends

Commercial insurance prices rise in Q3 – WTW report

December 13, 2022

Via: Insurance Business

US commercial insurance prices rose again during the third quarter, according to new data from global broker WTW. WTW’s Commercial Lines Insurance Pricing Survey compared prices charged on policies written during Q3 to those charged for the same coverage during […]


Risk Management, Trends

Travelers think about insurance differently post-pandemic – Travelex Insurance Services CEO

December 8, 2022

Via: Insurance Business

Travel insurance has bounced back in a big way after two years of pandemic travel restrictions. As people return to taking personal trips and holidays, they’re prioritizing safety and peace of mind. Shannon Lofdahl (pictured), president and CEO of Travelex […]


Risk Management, Trends

Affordable health insurance: Everything you need to know

December 8, 2022

Via: Insurance Business

Health insurance premiums across the US can range between $320 and $840 monthly per person, which can be a steep price to pay for some American families. This may not be a cause of concern for many of the gainfully […]


InsurTech, Risk Management, Trends

AI use in Bermuda re/insurance market low, but set to accelerate: BMA

December 2, 2022

Via: Reinsurance News

A new report by the Bermuda Monetary Authority (BMA) has concluded that use of artificial intelligence and machine learning technologies in the Bermuda re/insurance market is still currently in its infancy, but is set to pick up significantly over the […]


Risk Management, Trends

Insurance fraud costs $308.6bn annually, coalition reports

November 28, 2022

Via: Reinsurance News

The Coalition Against Insurance Fraud has released a report estimating that annually, insurance fraud costs the US $308.6 billion. In 1995, the Coalition estimated this number at $80 billion, though at the time, only the property & casualty insurance line […]


Risk Management, Trends

Airbnb Aims to Convince More People to Rent Out Their Homes

November 18, 2022

Via: Insurance Journal

Convinced that the boom in leisure travel is permanent, Airbnb aims to expand its listings by convincing more people to turn their homes into short-term rentals. The company said Wednesday that it will increase the amount of liability coverage for […]


Risk Management, Trends

Insurance industry to return to growth in 2023–2024: Swiss Re

November 17, 2022

Via: Reinsurance News

The insurance industry is forecasted to return to premium growth of 2.1% annually on average in real terms in 2023 and 2024 following total global premiums falling by an estimated 0.2% in real terms in 2022 due to inflation, which […]


Risk Management, Trends

Revealed – what’s driving global M&A insurance claims trends?

November 10, 2022

Via: Insurance Business

A new report from Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, shines a light on current global M&A insurance claims trends. The Liberty GTS 2022 Claims Briefing includes detailed information about the types of M&A deals and […]


Risk Management, Trends

Insuring Cannabis Summit: Experts Answer Social Media’s Toughest Questions

November 9, 2022

Via: Insurance Journal

“What are the hardest lines of insurance to write for cannabis businesses?” That question took Stephanie Bozzuto, co-founder of Cannabis Connect Insurance, down a long mental list. Bozzuto has been in the insuring cannabis business for years, so she knows […]


Risk Management, Trends

Lloyd’s leader John Neal on putting culture at the heart of insurance

November 2, 2022

Via: Insurance Business

As with any journey worth taking, the road to comprehensive diversity, equity and inclusion (DE&I) begins with a single step – and is made possible by individuals and businesses being willing to take those incremental steps as many times as […]


Risk Management, Trends

Homeowners view extreme weather as a growing threat, survey finds

November 2, 2022

Via: Reinsurance News

Homeowners in hurricane-prone coastal states and around the US believe severe weather is increasing and that their property is at growing risk from weather events, a new survey by the National Association of Mutual Insurance Companies (NAMIC) has found. However, […]


Financial, Risk Management, Trends

Insurers to expect low premium income growth in 2023

October 27, 2022

Via: Reinsurance News

Rising interest rates and a weakening economic picture affecting pricing and demand is setting insurers for low premium income growth in 2023, according to a recent EY report. In the the latest EY ITEM Club Outlook for Financial Services analysts […]