April 25, 2024
Via: Reinsurance NewsInsurance 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
Via: Artemis BMIn 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
Via: Insurance JournalGlobal 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 24, 2024
Via: Reinsurance NewsIn its latest US Life & Health Insurance update, Moody’s analysts have highlighted improving capital risks transparency as regulators top priority as well as their concern regarding the increase in the use of offshore reinsurance by life insurers. “This year […]
April 23, 2024
Via: Reinsurance NewsThe 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 23, 2024
Via: Insurance JournalThree investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known […]
April 19, 2024
Via: Insurance JournalA federal appeals court has sided with three chiropractors in ruling that claims under New Jersey’s personal injury protection statute concerning insurance fraud are subject to arbitration. GEICO has lost its bid to pursue litigation alleging fraud against the chiropractors. […]
April 18, 2024
Via: Insurance BusinessThe “Ensuring Access to Risk Management Act of 2024” has been introduced in the US House of Representatives, aiming to address compensation issues for crop insurance agents by reinstating an inflation adjustment that was halted in 2016. The bipartisan bill, […]
April 18, 2024
Via: Insurance BusinessWith 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 16, 2024
Via: Insurance JournalBeat Capital Partners, a London-based venture capital investor that focuses on the insurance industry, announced it is planning to launch a specialty and tech-enabled credit non-payment insurance underwriter. Called “Convergence,” the business is expected to underwrite through a Lloyd’s consortium, […]
Regulatory / Legal, Risk Management, Trends
April 10, 2024
Via: Insurance BusinessIn 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
Via: Reinsurance NewsAon, 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
Via: Reinsurance NewsRe/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
Via: Artemis BMInvestor 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
Via: Reinsurance NewsFlorida’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
Via: Reinsurance NewsThe Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on the property insurance market, according to the state’s Insurance Commissioner Michael Yaworsky. Yaworsky’s comments stem from the Florida Office of Insurance Regulation’s (OIR) […]
April 4, 2024
Via: Artemis BMThe 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
Via: Insurance JournalWith 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
Via: Artemis BMAmerican 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
Via: Insurance BusinessActive 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 […]
April 10, 2024
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