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Suez Blockage Claims Expected to Hike Marine Reinsurance Rates, Says Willis Re
Apr 1 2021 // The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters. Formal...
London Market Insurers’ 2020 Profits Canceled by COVID-19 but Rates Are Rising
Apr 1 2021 // Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event...
North Carolina Insurers Request Increases on Mobile Home Policy Rates
Mar 23 2021 // The North Carolina Rate Bureau has filed a request with the North Carolina Department of Insurance to increase insurance rates for mobile home policies. The NCRB, which represents insurance companies and is not a part of...
Florida to Hold Hearing on Proposed National Specialty 24.9% Rate Increase
Mar 22 2021 // The Florida Office of Insurance Regulation will conduct a virtual rate hearing this week on a proposed 24.9% rate increase filed by National Specialty Insurance Co. for its homeowners multi-peril lines of...
Employment Practices Insurance in Age of COVID, Vaccines, Shutdowns and Hard Market
Mar 18 2021 // Overall trends for the past 30 years in the employment practices liability insurance market have been influenced by society and culture. As concerns over racial and disability discrimination, sexual harassment, gender...
2.3% Rate Hike for Louisiana Citizens Property Insurance Approved
Mar 18 2021 // Louisiana’s property insurer of last resort will raise personal property insurance rates by 2.3% this year, the state insurance department said. The increase is in line with current inflation rates and evidences...
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