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Hot and dry weather in the summer and fall is also a conditional factor. -
Boeck will be IMA’s primary contact for cyber insurers concerning the development and distribution of cyber and related policies.
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He was previously North America Cyber Growth leader and before that Midwest Regional Leader - FINEX Cyber/E&O.
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This marked the third month-on-month drop in 2023.
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Recent top line growth and improved performance will need to be weighed against historical underperformance at group level, but the opportunity could attract a non-traditional buyer.
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Buchmueller will leave the company at the end of 2023.
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H1 2023 renewal rates for wind and fire-exposed properties in Florida, Louisiana and Texas increased more than 300% in some cases, exceeding the broker’s January forecast.
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The carrier had estimated a write-off in the range of $25mn-$35mn.
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In the non-admitted property market, more policies are including language that discourages clients from hiring adjusters.
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New language has been introduced by some insurers to limit exposures to cyber risks.
