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Tag: Featured


Financial, Risk Management

Europe’s big four reinsurers doubled combined earnings in 2023, says Moody’s

March 27, 2024

Via: Reinsurance News

Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices […]


Financial, Risk Management

US P&C industry records $21.2bn net underwriting loss in 2023: AM Best

March 25, 2024

Via: Reinsurance News

According to global credit rating agency AM Best, the US property & casualty (P&C) industry recorded a $21.2 billion net underwriting loss in 2023, which slightly improves upon the $24.9 billion loss recorded in the prior year. These preliminary results […]


Cyber Risks, Risk Management

Chief Risk Officers Say Cybersecurity Most Pressing Risk: Survey

March 21, 2024

Via: Insurance Journal

In an inaugural EY/Institute of International Finance (IIF) global insurance risk management survey, cybersecurity was ranked as the highest concern for chief risk officers. CROs surveyed said the top five risk types or risk management types for the coming year […]


News

Zurich expands presence to the Baltic market

March 21, 2024

Via: Reinsurance News

Zurich Nordic has announced that it will be offering its insurance and risk mitigation services in the Baltic region, in a move that the company hopes will make a difference for businesses operating in the middle-market segment of Estonia, Latvia, […]


Risk Management, Trends

Preparing insurers for future Generative AI advancements: MAPFRE

March 20, 2024

Via: Reinsurance News

In a recent report conducted by Spanish insurer MAPFRE, a framework of actions is presented for insurers to consider in anticipation of potential advancements in Generative Artificial Intelligence (AI), aimed at mitigating risks and fostering a positive impact on society. […]


Financial, Risk Management

ILW market activity rising, as preparations for hurricane season begin

March 19, 2024

Via: Artemis BM

According to Artemis’ sources, activity in the industry-loss warranty (ILW) market has increased in the last few weeks, as reinsurance and insurance-linked securities (ILS) markets prepare for what is anticipated to be an active 2024 Atlantic hurricane season. As we’ve […]


News

The Year in Insurance – A Look Back, A Look Ahead

March 18, 2024

Via: Insurance Journal

2023 was an unremarkable year for insurers. And that’s a good thing. Insurers and their shareholders prefer boring predictable results over unexpected volatile shocks. Property & casualty insurance company stocks performed relatively well. In 2023 the S&P Insurance Stock Index […]


News

California Insurance Commissioner: Allow Cat Modeling in Rates for Wildfires

March 14, 2024

Via: Insurance Journal

California Insurance Commissioner Ricardo Lara said he will allow catastrophe modeling to be used in rate regulation for wildfires, a move he says will help restore insurance options for Californians, including allowing. It was the latest phase of Lara’s Sustainable […]


Cyber Risks, Risk Management

Change Healthcare Cyberattack: Actionable Next Steps for Impacted Entities

March 14, 2024

Via: JD Supra

On February 21, 2024, Change Healthcare—a healthcare technology company owned by UnitedHealth Group—issued a statement that it had been impacted by a ransomware attack. According to Change Healthcare, a “threat actor” gained access to its system. As a result of […]


Risk Management, Trends

Why six million Americans go without home insurance

March 14, 2024

Via: Insurance Business

A recent study has revealed that over six million homeowners across the United States, including a significant number of Native American, Hispanic, and Black homeowners, are without homeowners’ insurance. This lack of coverage, the Consumer Federation of America says, places […]


Financial, Risk Management

Inflation continues to pressure pricing, uncertainty remains key topic, EMEA: Aon

March 12, 2024

Via: Reinsurance News

In their Q423 Market Insights Outlook for Europe, the Middle East and Africa (EMEA), Aon has highlighted how inflation continued to pressure pricing amidst generally moderate market conditions, although natural catastrophe exposed property and otherwise challenging risk types, including life […]


Regulatory / Legal

FEMA secures a further $575m of flood reinsurance for NFIP

March 11, 2024

Via: Reinsurance News

The U.S. Federal Emergency Management Agency (FEMA) has obtained reinsurance coverage through insurance-linked securities (ILS) reinsurance for the seventh time by entering a three-year reinsurance agreement, securing $575 million of coverage for the National Flood Insurance Program (NFIP). FEMA entered […]


Regulatory / Legal

US Treasury Drops Plan to Collect Insurer Data on Climate Risks

March 8, 2024

Via: Insurance Journal

The US government is stepping away from its effort to collect data on home insurance prices and availability at the Zip code level as premiums soar and climate risks to property intensify. Instead, it will join in a collaborative effort […]


Cyber Risks, Risk Management

Deep pool of capital, cat bonds help meet cyber insurance demand: Beazley CEO

March 7, 2024

Via: Artemis BM

Commenting this morning alongside his firm’s results announcement, Beazley Chief Executive Officer (CEO) Adrian Cox said that a “deep pool of capital” is required to support growing demand for cyber insurance, while the company’s CUO Bob Quane noted that the […]


Regulatory / Legal

NC Appeals Court Gives Green Light to Liquidation of Lindberg Insurance Firms

March 6, 2024

Via: Insurance Journal

Former North Carolina insurance and business mogul Greg Lindberg has lost an appeal on whether one of his companies can delay the liquidation of two of his troubled life insurance carriers. North Carolina Insurance Mike Causey said the March 5 […]


Financial, Risk Management

Property cat reinsurance pricing power to fall 5-10% at mid-year renewals

March 5, 2024

Via: Reinsurance News

As per a report from analysts at BMO Capital Markets, a prominent reinsurance broking executive from Howden Tiger has suggested property-catastrophe reinsurance pricing power will fall 5-10% at mid-year contract renewals. The comments from the Howden Tiger executive were reportedly […]


Cyber Risks, Risk Management

Navigating the New Frontier: Insurance for Artificial Intelligence Risks

March 5, 2024

Via: JD Supra

On 27 December 2023, The New York Times filed a lawsuit against OpenAI and Microsoft alleging copyright infringement in connection with OpenAI’s popular ChatGPT technology. This lawsuit is part of the first wave of artificial-intelligence-related lawsuits that have targeted some […]


InsurTech

Inigo, Samsara launch data-driven product to revolutionise fleet insurance

March 4, 2024

Via: Reinsurance News

Inigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets. Inigo plans to utilise Samsara’s […]


Financial, Risk Management

Embedded Business Insurance Agency Coverdash Raises $13.5 Million

February 29, 2024

Via: Insurance Journal

Coverdash, which offers embedded commercial insurance technology with products for startups and small-to-medium businesses, announced $13.5 million in Series A funding. Coverdash’s technology package allows businesses such as payroll, payment, lending, human relations and website creators the ability to offer […]


Cyber Risks, Risk Management

There is diversification to be found within cyber cat bonds and ILS: CyberCube

February 29, 2024

Via: Artemis BM

CyberCube, a specialist modelling firm for cyber risks and exposures, has analysed the four 144A cyber catastrophe bonds that have been issued to date and found that there is diversification between them, which it says means these first deals provide […]