‘Hard But More Manageable’ Jan. 1 Renewals; Little Relief on Retentions September 22, 2023 By Susanne Sclafane The hard reinsurance market in property-catastrophe reinsurance isn’t coming to an end at Jan. 1, 2024, but reinsurers are likely...
Loss Trends for Severe Convective Storms September 7, 2023 By L.S. Howard Loss trends for severe convective storms (SCS) have increased over the past 15 years and even more during the past...
The Care and Feeding of Property-Catastrophe Models September 7, 2023 By L.S. Howard Executive summary: The key to getting useful model results is working with models that fit specific underwriting needs and making...
Global Natural Disasters Cost Insurers $43B in H1, Surpassing 10-Yr Average: Munich Re July 28, 2023 By L.S. Howard Natural disasters during the first half of 2023 cost insurers an estimated US$43 billion with an overall economic price tag...
Markets/Coverages: New Lloyd’s Syndicate Provides E&S Cover for Calif. Wildfire Risks July 26, 2023 Wildfire Defense Systems Inc., Polo Managing Agency Ltd. (PMA) and Aon, announced Lloyd’s has approved the launch of Wildfire Defense...
Coastal Construction, Rising Replacement Values Contribute to Costly Hurricane Claims July 21, 2023 Insured losses from hurricanes have risen steadily over just the past 15 years, with nine of the 10 costliest hurricanes...
Appetite for Cat Exposures Returns; Reinsurers Stay Disciplined in Mid-Year Renewals July 6, 2023 By L.S. Howard Capacity was more readily available during the mid-year renewals, which brokers described as “orderly,” in comparison to the turbulent January...
Aon, Lloyd’s and Vienna Insurance Group to Provide Re/Insurance for Ukraine Recovery June 21, 2023 Aon, Lloyd’s and Vienna Insurance Group (VIG) announced they are collaborating to provide foreign re/insurance capacity to support Ukraine’s recovery...
People Moves: Howden Hires 3 for Casualty in London, Bermuda; Aon Names Fakkel CTO, Strategy & Tech Group; Everest Re Taps AIG’s Gallagher as Head of U.S. Facultative June 15, 2023 This edition of International People Moves details appointments at Howden Broking, Aon and Everest Re. A summary of these new...
MOVEit Cyber Attack Hits UK Printing Firm Used by Insurers, Brokers and Banks June 15, 2023 By Olivia Solon A UK printing firm that sends mail for clients ranging from major health-insurance providers to multinational banks was a victim...