Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’ January 9, 2025 By L.S. Howard Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion...
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer January 9, 2025 By Leslie Kaufman The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S. history,...
Maine Storm Resilience Proposal Includes Insurance Industry-Funded Mitigation Grants January 9, 2025 Maine Governor Janet Mills and House and Senate leaders are championing legislation to strengthen the ability of local communities, homeowners,...
Commercial Property Market Stabilizing, With Ample Capacity: USI January 9, 2025 The commercial property market is showing signs of stabilization, and buyers with favorable risk profiles will see rate decreases or...
People Moves: Pennsylvania Lumbermens Names Firko Operating Officer, Promotes 6 January 9, 2025 Pennsylvania Lumbermens Mutual Insurance Company (PLM), headquartered in Philadelphia, named Steve Firko as executive vice president and chief operating officer...
When EVs Take Off: AM Best Reviews Impact on China Motor Insurance January 9, 2025 By Susanne Sclafane Premiums for policies covering new energy vehicles in China have soared to $13.8 billion—a six-fold jump from the level recorded...
Broker McGill Offers Property War Reinsurance for Ukraine January 9, 2025 Broker McGill and Partners has launched a commercial property war risk reinsurance program for Ukraine, which it said on Thursday...
People Moves: Canopius Names CAC’s Burke US Head of Cyber and Technology; Gerber Hired as AXA XL’s Head of Energy Transition, Americas January 9, 2025 Canopius, headquartered in Chicago, appointed Laura Burke as U.S. head of cyber and technology. Burke assumes the role after serving...
Viewpoint: It Is Insurers’ Time to Lead a Resilience Revolution January 9, 2025 By Steven Rothstein and Francis Bouchard There is a risk crisis affecting the insurance industry. Hurricanes Helene and Milton left a trail of tens of billions...
More SE States Pushing Funding, Discounts for Stronger Roofs as Storms Increase January 9, 2025 By William Rabb A residual property insurer and regulators in two Southeastern states are emphasizing roof integrity, more signs that mitigation and prevention...