Monthly Archives: <span>September 2022</span>

Citizens’ Early Estimate of $3.8B in Ian Losses; Florida OIR Suspends Use and File

Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims from the storm, although a few analysts and officials …

People Moves: Canopius Names WTW’s Maitra as Group Head of Sustainability; Gallagher Re Hires Bangs and Swindell for Asia Pacific

This edition of International People Moves details appointments at Canopius and Gallagher Re. A summary of these new hires follows here. Canopius Names WTW’s Maitra as Group Head of Sustainability Canopius Group, the global specialty re/insurer, announced the appointment of …

Specialty MGA Optio Launches MGA and Broking Operations in Dubai

Optio Group, the London-based specialty managing general agent (MGA), announced it will launch an MGA and reinsurance broker in Dubai, subject to final approvals from the UAE regulatory authorities. Both businesses are expected to be operational by Jan. 1, 2023, …

Soccer Injuries Cost Top UK, European Clubs More Than £500M Annually: Howden

Footballers are getting injured more frequently across Europe’s top divisions, according to research from an international insurance broker, as the sport prepares for a period of intense fixture congestion. The number of injuries in Europe’s five biggest leagues rose 20% …

Insurers Should Be Ready for Global Average Disaster Losses of $123 Billion: Verisk

The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every year, according to the 2022 Global Modeled Catastrophe Losses Report from Verisk Extreme Event Solutions. In fact, the latest analysis, …

Storm Ian Weakens as Millions Left Without Power

Ian was downgraded to a tropical storm as it continued to move northeastward across central Florida, with a massive and deadly surge of water and catastrophic winds that are poised to make it one of the costliest storms in US …

UK Insurers, Banks Told to Do More to Help Customers Struggling With Cost of Living

Britain’s Financial Conduct Authority (FCA) told banks and insurers on Thursday to do more to help customers struggling with a cost of living crisis as it investigates 40 banks for dragging their feet. Interest rates are increasing to quell decades …

How Methane Leaks Accelerate Global Warming

Methane leaks have emerged as a top threat to the global climate, with the latest incident involving two Russian gas pipelines under the Baltic Sea that are at the heart of an energy crisis since Russia invaded Ukraine. Methane, the …

Russia Gas Pipelines Now Have Four Leaks, Blamed by Some on Sabotage

Another leak on the Nord Stream 1 and 2 natural gas pipelines in the Baltic Sea has been disclosed, bringing the total number of ruptures to four, according to the Swedish Coast Guard’s Command Center. Sweden’s Coast Guard became aware …

Optus Must Pay Cost of Replacing Hacked Customer Documents: Australia Government

Australian telecoms giant Optus must pay the cost of replacing the passports and drivers licenses of millions of customers whose personal information was stolen in one of the country’s biggest data breaches, the government said on Thursday. The theft of …