Tag: insurance market

May 22, 2023

The Florida insurance market is poised to experience a marked contrast during its June 1 renewal, characterised by an early and orderly process, according to JMP Securities. However, the renewal will also bring significant price increases as the market seeks […]

May 10, 2023

With the Florida legislative changes passed in December – prohibiting assignments of benefits and one-way attorney fees – there is now an opportunity to change the dynamic in Florida and create a more stable market. Historically, the main tools to […]

May 9, 2023

A new survey of property and casualty (P&C) brokers and agents has found that 97% of respondents feel that recent hard market conditions are impacting their books of business, while 95% say their clients risk being underinsured due to high […]

March 21, 2023

The Silicon Valley Bank (SVB) collapse is increasing awareness of risks in the financial system and could reverse some of the softening in insurance markets this year, according to Amwins CEO Scott Purviance. “When you’re allocating capital and taking risk […]

December 30, 2022

The reinsurance sector now finds itself at a “crossroad,” according to analysts at Guy Carpenter, following one of the most challenging renewal periods ever experienced at January 1. In a report on the crucial renewal period, Guy Carpenter – a […]

December 21, 2022

A new report from AM Best says that the recent insurance market reforms in Florida mean that long-term relief is drawing nearer, but the state remains buffeted by near-term headwinds. Now, AM Best says that the elimination of assignment of […]

December 20, 2022

Insurance and reinsurance broker Lockton has released a report suggesting the property sector is casting a major shadow over the market, despite conditions in other lines remaining largely predictable. In its report, Lockton explains that the P&C insurance market was […]

December 6, 2022

The Florida Legislature will conduct a special session during the week of December 12 focusing on fixes for a failing, flailing insurance market in the state that has reached crisis levels. Symptoms of the crisis include the financial collapse of […]

September 2, 2022

Globally, insurance and reinsurance market losses from flooding have accelerated significantly, with a doubling in the total in a decade to reach US $80 billion over the 2011 to 2020 period, but then another acceleration into 2021 when they reached […]

July 11, 2022

Dan Alexander has seen the worst of the Florida property insurance market from the inside-out – from agents who’ve quit to carriers that have gone insolvent or stopped writing new business, to having to manage policyholders that are mad at […]

July 5, 2022

Leading market research store ResearchAndMarkets.com has expanded its offering to include the Travel Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The report gives both a comprehensive analysis of the industry’s market performance so far and […]

July 5, 2022

Losses are predicted in 2022 and 2023 for the UK motor insurance market due to underlying inflation and premium rate falls, according to EY’s UK Motor Insurance Results. The professional services firm predicts that the sector’s net combined ratio (NCR) […]

June 24, 2022

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 […]

June 8, 2022

The global market for insurance broking saw significant growth in 2021, recording a revenue of around US$137.6 billion from total fees and commissions earned, a report from marketing consultancy Insuramore revealed. This is an increase of about US$122.3 billion from […]

June 8, 2022

The market value of pet insurance is expected to reach US$14.9 billion by 2030, according to a recent report by Global Market Insights (GMI). In 2021, the pet insurance market was valued at around U$7.9 billion. This is estimated to […]

May 24, 2022

The National Association of Mutual Insurance Companies (NAMIC) has commented on Florida’s special session on the property insurance crisis, which it sees as an opportunity for the Legislature to pass critical reforms to address some of the most pressing issues […]

March 10, 2022

Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody’s Investors Services said. In a report titled, “Tesla’s insurance venture puts incumbents under added […]

January 4, 2022

The market for catastrophe bonds and related insurance-linked securities (ILS) saw records broken once again in 2021, as annual issuance surpassed the previous high set a year ago and reached $14 billion across pure property cat bonds, other line of […]

December 21, 2021

Nephila Capital, the world’s largest insurance-linked securities (ILS) investment manager, has announced plans for its Lloyd’s specialty syndicate 2358, as the firm looks to provide investors with greater access to the wider specialty insurance market. Set to commence trading in […]

December 9, 2021

During the height of the COVID-19 pandemic in 2020, the shutdowns gave insurers and corporate risk managers a brief reprieve from the boom in huge jury verdicts for personal accident claims. However, when courts reopened in 2021, the juries went […]