-
Though wildfire losses are up, total losses are the lowest since 2015. -
A US district judge ruled a delay could put human life and property at risk.
-
Shared and layered accounts are seen as reaping the biggest benefits.
-
The governor has yet to sign a pending bill to create a public cat model.
-
Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
-
Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
-
The insurer of last resort currently has $2.15bn of cat bond protection on risk.
-
As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
-
Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
-
The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
-
Home buyers looking to close on a mortgage could find the private market an attractive alternative.
-
Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
-
The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
-
The NHC also warned that a hurricane watch could be required in Bermuda as early as Monday afternoon.
-
According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
-
The tropical cyclone is expected to be named Imelda.
-
California’s insurance regulator has Fair Plan depopulation, cat models on his mind.
-
Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
-
The risk also ranked as a top three concern for companies of all sizes.
-
Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
-
The proposed changes aim to establish clear guidelines for intervenors.
-
Cat losses in August were below historical trends, but we are not in the clear just yet.
-
Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
-
The measures also seek to encourage greater wildfire mitigation efforts.
-
The specialty MGA said it didn’t experience direct losses from the LA wildfires.
-
IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
-
A report by the ratings agency challenges current industry wisdom.
-
The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
-
Models anticipate a busier second half, particularly in the next few weeks.
-
The wildfire MGA is expecting to write higher value homes soon and may expand into new states.
-
Ransomware claims have made up the majority of recent large losses.
-
The company saw a 53% decrease in cyber claims after a surge in 2024.
-
The fundraising round brought in $50mn for the insurer.
-
Supply for property outstrips demand, but the casualty market is “bifurcated”.
-
The bi-partisan legislation would make FEMA a cabinet-level agency.
-
Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
-
The rest of 2025 appears poised to remain favorable for insureds, however.
-
The data modeling firm said losses previously averaged $132bn annually.
-
After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
-
The group claims the White House is undermining disaster preparedness.
-
Cat losses in July were below historical trends, but all eyes are on peak hurricane season.
-
Storm surge of two to four feet could affect the North Carolina coast.
-
The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
-
The program is aimed at affluent homes valued between $1mn and $6mn.
-
Life-threatening surf and rip currents are expected on the east coast of the US.
-
The estimate covers property and vehicle claims.
-
A shift to back to the admitted property space and MGAs choosing ignorance are other possible scenarios.
-
Both organisations still predict an above-average hurricane season.
-
As the fires spread, the priority shifted from saving structures to saving lives.
-
The forecast has increased since the early July update due to several additional factors.
-
California wildfires account for $40bn of the insured loss tally in H1.
-
The risk of cyber incidents that cause physical damage is also rising.
-
Reinsurers are mostly aligned on cat reinsurance, but goals are otherwise diverse.
-
This follows last month’s takeout of 12,000 Citizens policies.
-
The CEO said business remains adequately priced in most classes.
-
Roughly half a year since the LA fires, brokers said there’s hope things are turning around.
-
The carrier is reducing its exposure to quota shares and shifting to XoL.
-
Millions are evacuating after one of the strongest earthquakes in modern history.
-
Mercury’s recovery from the guaranteed percentage of losses is $47mn.
-
Insurers can offer features the beleaguered fund can’t, the MGA said.
Most Recent
