Articles by L.S. Howard

Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points

Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, which is leading reinsurers to require higher attachment points, according to Gallagher Re. “The topic of primary versus secondary perils …

January Reinsurance Renewals Were Most Challenging in 2 Decades: MMC’s Doyle

The most challenging January reinsurance renewals in nearly two decades saw global property catastrophe rate increases of 25% to 60% with loss-affected clients facing even higher prices, according to John Doyle, president and chief executive officer of Marsh McLennan Cos. …

January Renewals See Hardest Property-Catastrophe Reinsurance Rates in a Generation

A convergence of global events has led to the hardest property catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went down to the wire, according to reports by brokers Gallagher and Howden …

January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation

A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went down to the wire, according to reports issued by brokers Gallagher and Howden …

Top 10 International Insurance Journal Stories of 2022

As we reach the end of another eventful year, Insurance Journal takes a look back at some of the top International stories, which were, of course, dominated by the Russia-Ukraine war. Three of the top 10 articles in 2022 covered …

Could G-7 Sanctions Against Russia Have Unintended Insurance Consequences?

The G-7 sanctions on Russian oil, which include a $60 per barrel price cap and restrictions on key services such as insurance, may have unintended consequences, according to a maritime insurance specialist. One of those consequences is the creation of …

D&O Buyers See More Capacity, Competitive Conditions, but Risk Factors Loom: Allianz

Public and private D&O buyers are seeing more competitive conditions, fueled by a reduced number of U.S. securities class actions, a slowdown in M&A activity, as well as an influx of new market entrants. However, the risk landscape is ripe …

Hurricane Ian Drives Global Insured Losses of $115B From Natural Disasters: Swiss Re

Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a report published by Swiss …

Zurich Insurance Plc Plans to Redomicile From Ireland to Germany in Post-Brexit Move

Zurich Insurance Plc (ZIP), the Dublin-based wholly owned subsidiary of Zurich Insurance Group, plans to relocate to Germany as a result of the UK’s exit from the European Union. Since the Irish unit includes the insurer’s UK P&C business, Brexit …

‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America

European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a research report published …