renewals News

Online Insurance Transactions Pondered by Washington Legislature

Washington state legislators will consider modernizing how insurance transactions are conducted. House Bill 2662, authored by State Rep. Derek Stanford, D-Bothell, will enable policyholders to access their insurance policy through their insurer’s website and also receive insurance notices and documents …

Guy Carp’s July 1 Renewals Report: ‘Plentiful Capacity;” Low Insured Losses

According to a report from Guy Carpenter the July first reinsurance renewals “took place against a backdrop of plentiful capacity,” as capital “has continued to strengthen through the second quarter of 2012, moderating pricing pressures.” Guy Carp noted that, “although …

Willis Marine Market Review Forecasts ‘Another Difficult Year’

After an inauspicious start, 2012 could well be “another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the euro zone, pirate attacks and increased sanctions,” according to Willis Global …

Willis Re Report on Reinsurers Sees Lower Loss Activity, Market Support

Reinsurers have seen more positive results in the first quarter of 2012 than in the previous two years according to Willis Re, the reinsurance brokerage arm of Willis Group Holdings. However, the survey also indicated that “lower levels of loss …

Willis Re Reports Jan. 1 Renewals Focus on Nat Cat Data

An analysis from Willis Re, the reinsurance broking arm of Willis Group Holdings, notes that the majority of this year’s catastrophe losses arose “from un-modeled or inadequately modeled perils or territories.” As a result reinsurers “are being more forceful in …

Lloyd’s Analyzes Baden-Baden Reinsurance Renewal Conclave

An article on the Lloyd’s website takes a look at the “insurance and reinsurance specialists,” who “converge in Baden-Baden to begin their ‘renewal season’ discussions in earnest and in preparation for January 1, when deals between primary insurers and their …

Munich Re: ‘Uncertainty,’ Economic Crisis, Challenge Re/insurers

A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the re/insurance markets as posing “significant challenges …

New Zealand Quakes Drive Insurance Market Changes

A string of earthquakes in New Zealand is sending tremors through the global insurance market with some companies delaying underwriting policies and others turning to capital markets to offset the risk of pile-on damage and costly claims. “Although there has …

Beazley Remains Confident, Despite Q1 Catastrophes

The first quarter of 2011 reminded the insurance industry of just how unpredictable natural catastrophes can be. Beazley plc, which is headquartered in Dublin, but whose main activities, are in the Lloyd’s market, and increasingly in the U.S., saw Q1  …

Reinsurance Rates Are Rising, but Few Agree Where

Reinsurance rates may be edging higher only now, but the companies’ shares could still surge amid investor hopes that disasters, including Japan’s earthquake, will result in much higher rates in the future. Going into 2011, brokers and analysts estimated it …