What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus March 25, 2020 By Susanne Sclafane and Andrew G. Simpson As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to...
Ransomware Attacks, Funds Demanded Soared in 2019: Beazley March 24, 2020 By Andrew G. Simpson The number of ransomware attack notifications against insurance clients increased by 131 percent in 2019 and the funds demanded by...
Insured Losses for Europe’s Storm Sabine (aka Ciara) Estimated at €1.55B: PERILS March 24, 2020 The initial loss estimate for extratropical cyclone Sabine”, also known as “Ciara” and “Elsa,” is €1.55 billion (US$1.8 billion), according...
Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact March 24, 2020 Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable....
Liability Insurers Report Rise in Claims Against Architects and Engineers March 24, 2020 By Jim Sams Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first...
Fitch Revises Global Reinsurance Sector Outlook to Negative; Rating Outlook Stable March 23, 2020 Fitch Ratings announced a dimmer “sector outlook” for global reinsurers—changing it to negative from stable, pointing to increased concerns over...
European Insurers’ Coronavirus BI Claims Likely to Be Limited: Moody’s, ABI March 20, 2020 Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result...
Report: Climate Change Requires a ‘Rethink’ of How Catastrophic Events are Funded March 19, 2020 By Don Jergler Severe weather events and demographic challenges will continue to strain government finances, a trend that will require “a rethink of...
AIR Worldwide Estimates COVID-19 Global Deaths Could Rise 10K-30K by End of March March 18, 2020 AIR Worldwide, the Boston-based catastrophe risk modeling firm, projected the number of severe cases of COVID-19 could range between 200,000...
P/C Insurers Score Low for Innovation, While Reinsurers Do Better: AM Best March 18, 2020 By Susanne Sclafane In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty...