Executive summary: Tony Buckle and John Carolin, co-founders of the boutique insurance consultancy UWX, analyze underwriter motivation during the soft phase of the market cycle. While average market prices are the hardest seen in years, some price softening has begun …
Drawing analogies to an epic tennis match and the hands of a clock, the leader of Bermuda-based Arch Capital declared the current hard market one of the longest the P/C industry has ever experienced. “This is the type of well-rounded …
While no one directly asked the question of this article’s headline at the S&P Global Ratings June annual insurance conference, the prospect that an outlook change is near came into view during the industry meeting. During a panel on property/casualty …
A rising tide carries all boats. That rings true currently in commercial insurance. Carriers have broadly brushed aside concerns about geopolitics, inflation and natural catastrophes and reported positive year-to-date underwriting results. Leaders talk optimistically of the pivot to growth and …
Reinsurers will continue to command adequate rates for property-catastrophe in 2024, even if the market comes through hurricane season unscathed, reinsurance company executives said. Kevin O’Donnell, president and chief executive officer of RenaissanceRe Holdings Ltd., and Brian Young, president and …
Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailstorms in France, floods …
Swiss Re’s economists predict “inflationary recessions” hitting major world economies over the next 12-18 months, and while recessions spell less insurance demand and inflation means higher claim costs, inflation will also drive a continued hard market, they say. The forecasts …
Insurance premiums are doubling or more for some aviation and marine business particularly exposed to the war in Ukraine, increasing costs for airline and shipping firms, industry sources say. Global commercial insurance premiums rose 11% on average in the first …
Instead of oscillating between extreme hard and soft markets, the insurance industry needs to promote a more sustainable business model that will help control the insurance cycle, according to an executive at the insurer Markel UK. And perhaps the ongoing …
The British Insurance Brokers’ Association (BIBA) and Allianz have developed a digital guide to support brokers in helping their customers avoid the risks of being underinsured. Underinsurance occurs when you have insufficient insurance cover that leaves you responsible for a …
