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Geo-Political, Risk Management

G-7 Eyes Cap on Price of Russian Oil via Insurance, Shipping Restrictions

June 27, 2022

Via: Insurance Journal

Group of Seven nations are discussing a cap on the price of Russian oil that would work by imposing restrictions on insurance and shipping, according to people familiar with the matter. The potential mechanism would only allow the transportation of […]


Regulatory / Legal

Florida insurance regulator sets 2022 rates for Citizens Property Insurance

June 27, 2022

Via: Insurance Business

Florida’s Office of Insurance Regulation (OIR) has established the personal property and commercial property insurance rates of Citizens Property Insurance Corporation – the state-backed insurer of last resort – for 2022. The OIR held a virtual public rate hearing to […]


Regulatory / Legal

How to Lower Home Insurance Premiums and Wildfire Risks

June 24, 2022

Via: Insurance Journal

Homeowners in the US got new guidance to help them defend against increasingly frequent wildfires and associated rising insurance premiums. The Insurance Institute for Business & Home Safety, a research nonprofit funded by insurers, announced it has developed the first […]


Financial, Risk Management

Revealed – what’s tearing apart Florida’s homeowners’ insurance market?

June 24, 2022

Via: Insurance Business

The Insurance Information Institute (Triple-i) has released a damning report which has warned that Florida’s current homeowners’ insurance market is “on the verge of failure,” thanks to rampant fraudulent roof repair schemes and excessive insurance litigation. Triple-I found that thanks […]


Regulatory / Legal

‘Well-to-Do’ Investment Firm Head Charged in $300,000 South Florida Insurance Fraud

June 23, 2022

Via: Insurance Journal

The head of a small, South Florida investment firm has been charged with insurance fraud after he submitted a $300,000 roof-leak claim to his insurer, American International Group, along with allegedly fake photos of mold and other damage to his […]


Financial, Risk Management

AXIS gets $140m Northshore Re II cat bond at reduced pricing

June 23, 2022

Via: Artemis BM

Global specialty insurance and reinsurance underwriter AXIS Capital has now secured its latest catastrophe bond at attractive terms, with the upsized $140 million of peak-peril catastrophe reinsurance protection from its new Northshore Re II Ltd. (Series 2022-1) catastrophe bond issuance […]


News

Resolution Re enters reinsurance agreement with Dai-Ichi Life

June 22, 2022

Via: Reinsurance News

Resolution Re, part of global life insurance group Resolution Life, has entered into a reinsurance agreement with Dai-Ichi Life, a large life insurer in Japan. The agreement includes the transfer of a closed book of whole of life policies totalling […]


Financial, Risk Management

Property cat pull-back bodes well for pricing into 2023: JP Morgan

June 22, 2022

Via: Artemis BM

The fact some large and previously significant catastrophe exposed reinsurance firms have announced plans to pull-back and reduce exposures this year bodes well for pricing right through into 2023, according to analysts from JP Morgan. With property catastrophe reinsurance rates […]


Cyber Risks, Risk Management

Captives, MGAs, MGUs Contribute to Growing Cyber Insurance Market

June 21, 2022

Via: Insurance Journal

The hard market for cyber insurance, which is expected to continue for “some time,” and a lack of capacity has made captive insurers an “attractive risk management option for corporations,” said AM Best in a recent recent market report. As […]


News

Insurance Business America announces major report partnership

June 21, 2022

Via: Insurance Business

Insurance Business America (IBA) has teamed up with the Latin American Association of Insurance Agencies (LAAIA) for a special report. Founded in 1969 as “the voice of independent insurance agents,” LAAIA aims to ensure a healthy insurance environment by providing […]