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Tag: Featured


Geo-Political, Risk Management

Travelers reports highest-ever level of Q1 catastrophe losses

April 20, 2021

Via: Artemis BM

U.S. primary insurance carrier Travelers has reported what its CEO Alan Schnitzer calls its “highest-ever level of first quarter catastrophe losses”, which it appears are largely due to the US winter storms. Travelers doesn’t break out its losses from February’s […]


Financial, Regulatory / Legal, Risk Management

“Significant increase” in litigated Florida claims in Q1: United (UPC)

April 19, 2021

Via: Artemis BM

The litigation issue and resulting loss inflation and amplification continues for Florida homeowners’ insurers, with the latest report from United Insurance Holdings (UPC Insurance) suggesting that the issue is worsening in 2021. United (UPC) reported on Friday that it has […]


Geo-Political, Risk Management

Catastrophe bond & related ILS issuance nears $6bn already in 2021

April 19, 2021

Via: Artemis BM

Despite still being less than four months through the year, issuance of new catastrophe bonds and other related insurance-linked securities (ILS) we track here at Artemis is already approaching $6 billion in 2021. Issuance of catastrophe bonds has continued apace […]


Regulatory / Legal

Texas Supreme Court Sides with Insure on Mold-Related Policy Changes

April 14, 2021

Via: Insurance Journal

The Texas Supreme Court on April 9 reversed lower court rulings and found that Farmers Insurance was within its rights when it decided 19 years ago not to renew homeowners’ policies that it feared would have forced it to cover […]


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

World Bank CAT DDO pays out $20m for La Soufrière volcanic eruption

April 13, 2021

Via: Artemis BM

The Governments of Saint Vincent and the Grenadines have received $20 million in disaster risk financing support from the World Bank to aid their recovery from the recent eruption of the La Soufrière volcano, after a catastrophe contingent line of […]


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 […]


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 […]


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 […]