The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …
Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS. This insured price tag includes losses absorbed by the Consorcio de Compensación de Seguros (CCS), the state-backed …
The region of Valencia is asking Spain’s central government for rescue funds to help with rebuilding after floods last week destroyed homes and left more than 200 dead. The Valencian government agreed to ask Madrid for €31.4 billion ($34.2 billion), …
Southern Spain’s devastating floods are expected to cost insurers well above €1 billion ($1.1 billion), given the significant damage to people, properties, vehicles and businesses as well as to the region’s agriculture sector, according to a commentary published by Morningstar …
The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage. Credit rating agency Morningstar DBRS estimates losses will range …
The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said in a research note on Wednesday. Reinsurers, which insure …
As demand for cyber insurance continues to grow, insurers must remain vigilant in managing the changing risk associated with the line of coverage. According to today’s DBRS Morningstar’s commentary on the exploding line of coverage, while cyber insurance is a …
Toronto-based Fairfax Financial Holdings Ltd.’s ratings are unaffected following last week’s announcement it has entered into a definitive agreement to acquire an additional 46.32% of Gulf Insurance Group (GIG) from Kuwait Projects Co. (KIPCO), according to DBRS Morningstar, which has …
