Balance With ‘Micro-Actions’ in Commercial Market But Milton Could Disrupt October 10, 2024 WTW characterized commercial insurance rates as balances and stable but, as Hurricane Milton approached, the broker warned of upcoming disruption....
Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources October 10, 2024 By Pavel Polityuk and Jonathan Saul A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump...
Hurricane Milton Could Use Up P/C Insurers’ 2024 Catastrophe Budgets October 10, 2024 S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S....
Delaware High Court Rescues Insurance Agency’s Malpractice Suit Against Law Firm October 10, 2024 By Andrew G. Simpson Six months after a three-judge panel of the Delaware Supreme Court said an insurance agency deserved another shot at proving...
Flaws of the Saffir-Simpson Scale: Wind Isn’t the Only Threat in Modern Hurricanes October 10, 2024 By Zachary S. Finn The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With...
Britain Bolsters Sanctions Regime on Russia With New Trade Unit October 10, 2024 Britain on Thursday launched a trade sanctions unit with new powers to penalize companies that fail to comply with restrictions...
People Moves: Miller Promotes Nagle to Head of Miller Europe, Succeeding Holloway; Markel Taps AIG’s Eastwood as Sr. Cyber U/W October 10, 2024 This edition of International People Moves details appointments at the insurance broker Miller and the insurer Markel. A summary of...
Markets/Coverages: AEGIS London-Led Lloyd’s Consortium Launches $25M Miner Rescue Insurance Cover October 10, 2024 The Lloyd’s insurance market’s only product writing cover for the rescue of miners trapped underground has more than doubled its...
Geopolitical Conflict Could Cost Global Economy $14.5 Trillion Over 5 Years: Lloyd’s October 10, 2024 By L.S. Howard The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a...
World’s Rivers Faced Driest Year in 30 Years in 2023: UN Weather Agency October 10, 2024 By Jamey Keaten The U.N. weather agency is reporting that 2023 was the driest year in more than three decades for the world’s...