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The outlook flags “large uncertainties” amid possible El Niño through summer 2026. -
The policy includes a $200mn limit with an additional $100mn for side A coverage.
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MGAs going public is now a viable option, but dominating a market comes first.
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The highest portion of losses was experienced in Alberta.
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Highly concentrated, overly leveraged fronts could repeat the Unicover-Reliance story.
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The PE fund says Argo failed to indemnify it for costs related to a probe by New York’s attorney general.
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Admitted carriers on the other hand are still exercising caution as regulatory reforms take hold.
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An “extraordinary” proportion of storms reached Category 5 status this year.
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The MGA said payments to affected customers began shortly after the event.
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A string of high-profile bankruptcies has put more scrutiny on the once marginal sector.
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Many carriers are still pricing above technical rate, but could reassess their strategies after Q1.
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A jury awarded $32.3mn for repair costs, and $80mn for business interruption.
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Light cat losses at year-end portend capital deployment and return decisions in 2026.
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The city said it was self-insured at the time of the attack.
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The peril has been historically difficult to model compared to others.
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Sizable reserve releases offsetting casualty reserve charges cannot last forever.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
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Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants.
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The plaintiffs' bar has been playing out the same rulebook for 15 years. It’s time the defense catches up.
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The tech error, now resolved, halted traffic to sites like X and ChatGPT.
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Kemper and Selective’s woes stem partly from own issues, but industry-level issues persist.
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The deal to reopen the government also extended the NFIP.
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The MGA began offering US commercial E&S property products in December.
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Many nuclear verdicts become much less radioactive on appeal.
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The loss would be one of the largest ever for mining underwriters.
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California may not be the only state to see non-economic damage caps in medmal get challenged.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The executive said inflation isn’t completely gone but is now “more understood”.
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The credit can now be applied to mitigation against operational losses.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Widespread underinsurance and low exposures will limit losses.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
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The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.
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Exposure for California’s Fair plan has jumped, as insurers drop policyholders.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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The global insurer will need to convince investors on the quality of the book.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The bill includes provisions to encourage retrofitting homes in high-risk areas.
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While limited to only some accounts, it’s a sign of the intense competition in the segment.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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Selective’s CEO earlier attributed Q3 adverse development to the NJ market.
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The company and its main debt provider Ares agreed to relax its debt terms in April.
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A former NOAA climatologist who left the agency is running the new operation.
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Cat losses in Q3 were light as peak hurricane season passes without incident.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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There’s nothing medical about SAM claims.
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Northeast Insurance said 55 claims were brought under the Child Victims Act.
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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Critics claim the dispute system denies consumers' key legal rights.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
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Though wildfire losses are up, total losses are the lowest since 2015.
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A US district judge ruled a delay could put human life and property at risk.
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The federal panel hasn’t finalized a timeline for formulating the new rules.
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Shared and layered accounts are seen as reaping the biggest benefits.
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Fronting doesn’t look any better when it’s broken down by segment.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Growth concerns were top of mind at this year’s conference.
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The governor has yet to sign a pending bill to create a public cat model.
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Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
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Moretti has relocated to California from London.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
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Insurers continue to compete on price, especially in the SME sector.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Sexual abuse and molestation exclusions are starting to hold in higher layers of hospital towers this year.
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Home buyers looking to close on a mortgage could find the private market an attractive alternative.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
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The NHC also warned that a hurricane watch could be required in Bermuda as early as Monday afternoon.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The tropical cyclone is expected to be named Imelda.
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Juries don’t significantly differentiate in cases involving severe injury.
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California’s insurance regulator has Fair Plan depopulation, cat models on his mind.
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Rates continue to be favorable for buyers across major lines of coverage.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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The risk also ranked as a top three concern for companies of all sizes.
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Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
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The proposed changes aim to establish clear guidelines for intervenors.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.
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Average incident costs for SMEs were up nearly 30%.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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As data privacy litigation increases, insurers increasingly lean on exclusions.
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The measures also seek to encourage greater wildfire mitigation efforts.
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While the Fed is more concerned with jobs, other macroeconomic concerns trouble the industry.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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The specialty MGA said it didn’t experience direct losses from the LA wildfires.
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Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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A report by the ratings agency challenges current industry wisdom.
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The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
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Models anticipate a busier second half, particularly in the next few weeks.
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The wildfire MGA is expecting to write higher value homes soon and may expand into new states.
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Ransomware claims have made up the majority of recent large losses.
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The company saw a 53% decrease in cyber claims after a surge in 2024.
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The fundraising round brought in $50mn for the insurer.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Clients in the segments that AIG trades in may not be as receptive to the idea as the insurer would like.
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The bi-partisan legislation would make FEMA a cabinet-level agency.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The executive said claims can be a differentiator in a softening market.
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The rest of 2025 appears poised to remain favorable for insureds, however.
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The data modeling firm said losses previously averaged $132bn annually.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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