Removing US Subsidies Curbed Building in Climate Risk Zones, Study Finds August 6, 2024 By Leslie Kaufman The US Congress passed the Coastal Barrier Resources Act in 1982 to preserve relatively undeveloped waterfront areas as natural buffer...
Howden to Acquire Allianz UK’s Musical Insurance Book August 1, 2024 Howden, the global insurance intermediary group, today announces that it has agreed to acquire the Musical Insurance book from Allianz...
Extreme Weather Sends Insured Losses 70% Above Historical Norms July 31, 2024 By Stephan Kahl Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70% above the...
AM Best: Migration to Cat-Prone States Fuels Record HO Underwriting Losses in 2023 July 29, 2024 The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in...
Global Q2 Commercial Insurance Rates Remain Flat, Ending 7 Years of Price Hikes: Marsh July 24, 2024 Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024),...
J.D. Power: Auto Insurance Shopping Hits New High, Could Drop With Rate Adequacy July 24, 2024 The national auto insurance shopping and quoting rate reached a new high between April and June, but many insurers appear...
Personal Auto Driving P/C Insurers to 2024 Underwriting Profit July 23, 2024 By Susanne Sclafane S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024,...
British Insurers Propose Green Infrastructure Funding Model July 23, 2024 By Huw Jones Britain’s insurers set out plans on Monday on how to channel billions of pounds freed up from their safety buffers...
US Severe Storms Continue to Drive Global Natural Disaster Losses: Gallagher Re July 22, 2024 By L.S. Howard US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the...
Somali Piracy Revives Sharply After Years of Quiet July 22, 2024 By Eleanor Thornber Somali piracy — the scourge of merchant shipping more than a decade ago — has had a resurgence this year,...