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Financial, Risk Management, Trends

Reinsurance rates may increase into 2022, but momentum to wane

April 13, 2021

Via: Artemis BM

Reinsurance rates and pricing are expected to increase again at the upcoming mid-year 2021 June and July renewals, likely increasing further into 2022 as well, but by next year these rises may be losing momentum, Fitch Ratings believes. After three […]


Geo-Political, Risk Management

Cat bond & ILS hard market may be coming to an end

April 12, 2021

Via: Artemis BM

There is evidence that the hard market in catastrophe bonds and insurance-linked securities (ILS) may be coming to an end, as data suggests that softening may finally have begun and could continue if 2021 remains loss free, according to consultancy […]


Cyber Risks, Risk Management

Cyber will need massive amounts of additional capital

April 12, 2021

Via: Artemis BM

Underwriting of cyber insurance and reinsurance risks is going to require “massive amounts of additional capital” to support what is expected to be a particularly fast-growing class of business, according to broker Gallagher Re’s Ian Newman. Newman, who is the […]


InsurTech

Applied Analytics Isn’t Just for Insurers. Startups Help Claimants Get In On the Action

April 9, 2021

Via: Insurance Journal

Lee Fogle reached down to save his 12-lb. Yorkshire terrier Nemo as a pit bull lunged forward. The attacking dog’s jaws clamped onto his left hand, sending him to a clinic for sutures and starting a 10-month-long insurance battle. “It […]


Geo-Political, Risk Management

UK property insurers need to map the long-term impact of climate change: JBA

April 9, 2021

Via: Reinsurance News

Analysts at flood science specialist, JBA Risk Management, have warned that UK property insurers need to start planning how they will map the long-term impacts of climate change on their books. The warning comes ahead of the confirmation this June […]


News

Foreign insurers show strong progress in China: RBC Capital Markets

April 9, 2021

Via: Reinsurance News

European re/insurers have made “significant progress” in China following regulations to open up the Chinese market in 2019, according to analysts at RBC Capital Markets. Although this progress has largely been overlooked due to the pandemic, RBC notes that several […]


Risk Management, Trends

Insurance premiums a taxing issue for filers

April 8, 2021

Via: Business Insurance

Are insurance premiums tax-deductible? Forty-nine percent of Americans think so, according to a recent survey of 1,550 people conducted by the consumer research and analysis website ValuePenguin.com. That means people could be heading for trouble with the Internal Revenue Service […]


News

COVID-19 insured loss reports rise 21% in last quarter, near $38bn

April 7, 2021

Via: Artemis BM

Losses and IBNR reserves related to the COVID-19 coronavirus pandemic reported by major insurance and reinsurance companies have risen significantly during the first-quarter of 2021, with the total pandemic loss reported now nearing $38 billion, having risen by 21% during […]


Geo-Political, Risk Management

Many ILS funds report negative February returns on winter storm impacts

April 7, 2021

Via: Artemis BM

The majority of insurance-linked securities (ILS) funds have reported a negative return for February 2021 after the impacts of the US winter storm and Texas freeze, according to the latest report from the Eurekahedge ILS Advisers Index. The Index was […]


Regulatory / Legal

Is It Covered?: A Flood of Uncovered Claims

April 6, 2021

Via: Insurance Journal

On a recent insurance social media page, an agent was looking for a market for a $2 million home that had experienced a $540,000 plumbing leak claim and the carrier had nonrenewed. A few weeks earlier, another agent had been […]