Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan. Property …
One in six (17%) young drivers admit to being on a ‘fronted’ policy, which is illegal, according to research by United Kingdom insurer Aviva. Fronting is a form of insurance fraud where the young driver is listed as a named …
Some infectious diseases saw a huge surge in 2024, with the spread attributed in part to climate change, declining vaccination rates and the advent of new pathogen variants. The findings, part of a preliminary analysis by London-based disease forecasting firm …
European insurers approached the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to present more challenges, with falling yields and moderating premium rates …
Another human pandemic could cause economic losses of $13.6 trillion for the global economy over a five-year period, commercial insurance market Lloyd’s of London predicted. The impact would mainly be from disruption across global industries due to local lockdowns and …
Swiss Re Institute (SRI) made a significant contribution to the literature on social inflation and its impacts on insurers, reinsurers and their customers with the calculation of a new measure—a social inflation index. (Related article: US Nuclear Verdicts Break Records …
Top insurance companies suffered $10.6 billion of climate-attributed losses this year, just shy of the $11.3 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than …
This year is “effectively certain” to be the warmest on record with temperatures climbing above a closely watched threshold for the first time. The average global temperature reached 1.62C above pre-industrial levels in November, according to the EU-funded Copernicus Climate …
Storm Darragh has triggered a red weather warning for the west coast of Wales and the Bristol Channel on Saturday, with hurricane-force winds forecast. Wind speeds are expected to reach as high as 90 miles (145 kilometers) per hour, according …
Estimated insured losses from natural catastrophes are on track to surpass US$100 billion in 2024 – for the fifth consecutive year — and are even likely to hit US$135 billion-plus, according to Swiss Re Institute. Natural disasters are driving an …
