Research and Trends News

Medical Professional Insurance Market in Good Health for Now: A.M. Best

The U.S. medical professional liability (MPL) insurance sector is stable, with strong capitalization and profitable, albeit declining, operating performance, plus the prospect of positive earnings in the medium term, according to an assessment by A.M. Best. In addition, stable claims frequency …

Bermuda Re/Insurers Hit by Ogden Rate Change, Higher Nat Cats: S&P

A big change in the Ogden rate in the UK and higher natural catastrophe losses are dampening a wide range of Bermuda-based insurer and reinsurer results in the 2017 first quarter, Standard & Poor’s said in a new report. “Unfavorable …

Experts Expect Simultaneous Cyber Attacks on Multiple Firms: Survey

Nine in 10 global cyber security and risk experts believe that cyber risk is systemic and that simultaneous attacks on multiple companies are likely in 2017, according to a study by American International Group. More than half of survey respondents …

TRIP: Oklahoma’s Deteriorating Roads, Bridges Cost Motorists $5B

A national transportation research group says deteriorated and congested roads and bridges in Oklahoma cost the state’s motorists $5 billion a year in higher vehicle costs, crashes and congestion-related delays, the Associated Press reported. A report released by the Washington, …

Insurance Sector Set to Overtake Banking in Switzerland

Switzerland’s financial center is in the midst of a power shift. The Alpine country’s less fashionable insurers, long overshadowed by glamorous private banks around Zurich’s posh Paradeplatz and Lake Geneva, are on course to surpass banks as a bigger contributor …

Aon Names Hogg as Leader of Cyber Solutions, CEO of Stroz Friedberg

Aon plc announced that Jason Hogg has joined the firm as leader of Aon Cyber Solutions, responsible for the growth strategy of the firm’s solutions that help clients address and manage cyber risk. He will also serve as chief executive …

High-Profile Cyber Attacks Drive Growth of Cyber Crime Insurance

For companies and organizations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber crime insurance, it’s free marketing for what could be a $10 billion opportunity. …

U.S. Weather Remains Biggest Driver of Global Insurance Losses in 2017: Aon

Severe weather in the U.S. remains the largest contributor to global insurance losses in 2017 after April continued the trend with multi-billion dollar losses for public and private insurers, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. “Much …

How P/C Insurers Fared in 2016

Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by significantly higher catastrophe-related property losses, according to ISO and the Property Casualty Insurers Association of America. The results stand in sharp contrast …

Australia’s Cyclone Debbie Estimated to Cost Insurers US$825.7M: PERILS

The initial estimate of insured property market losses for Cyclone Debbie is A$1.12 billion (US$825.7 million), according to PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data. Tropical Cyclone Debbie caused significant wind and flood damage across the Australian …