April Reinsurance Renewal Pricing ‘More of the Same,’ Reports Willis Re April 1, 2021 International reinsurance renewals completed for April 1 followed trends set earlier in the season, as market pricing remained firm in...
London Market Insurers’ 2020 Profits Canceled by COVID-19 but Rates Are Rising April 1, 2021 Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a...
Alaska Wary of ‘California Style’ Blackouts; Study Assesses Global Hailstorm Trends April 1, 2021 By Don Jergler Alaska could face “California-style” blackouts as climate change increases the state’s wildfire risk. That’s according to an article this week...
Tech Firms Under More Scrutiny and Unhappy with Their D&O Insurance March 31, 2021 With premiums rising and carriers narrowing their terms and conditions, technology companies’ satisfaction with their directors and officers (D&O) liability...
2020’s P/C Insurance Industry Results and What They Mean for 2021 March 31, 2021 By Susanne Sclafane The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms...
Global Insurers Paid $89 Billion for Natural, Manmade Disasters in 2020: Swiss Re March 30, 2021 By L.S. Howard Natural and man-made catastrophes cost the insurance industry US$89 billion in 2020, in the fifth costliest year since 1970, according...
Insurance Unlikely to Cover All Shipowners’ Expenses Incurred in Suez Closure Chaos March 30, 2021 By Jonathan Saul and Carolyn Cohn The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at...
Number of Independent Agencies Dips a Bit: Future One Study March 30, 2021 Despite continued robust agency mergers and acquisitions activity, the number of independent insurance agencies has remained stable at 36,000, a...
Suez Canal Blockage Likely to Bring Large Losses for Global Reinsurers: Fitch March 29, 2021 The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event...
Update: Stranded Container Ship Is Refloated; Suez Canal Shipping Traffic Resumes March 29, 2021 By Yusri Mohamed, Nadine Awadalla and Aidan Lewis ISMAILIA, Egypt – Shipping was on the move again late on Monday in Egypt’s Suez Canal after tugs refloated a...