All claims inflation articles
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NewsHurricane Ian drives 2022 nat cat claims to breach $100 billion
Losses paint a picture of growing property exposure and exceptional inflation, says sigma
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2022 nat cats set new records with $120 billion in claims
Hurricane Ian accounted for half of insured losses, making it the second most costly storm in history - Munich Re
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Why redundant reserves are a $1 billion problem - Pro
Market has over $1 billion in unused loss fund reserves, despite claims being paid in full
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Florida reforms will offer relief to ‘dire situation’ - AM Best
New laws include the elimination of AoB. But reinsurance and ILS capacity will remain limited for some time
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Inflation and nat cats are creating ‘perfect storm’ at 1/1
A sharp reduction in available nat cat reinsurance capacity will make for a challenging renewal season - Clyde & Co
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After Stonegate: Unpicking Covid-19 BI aggregation potential
Why reinsurers should look to recent Covid-related judgments on the direct side in an effort to resolve uncertainty
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Baden Baden: German motor insurers face 2022 underwriting loss
Ongoing supply chain disruption and inflation are impacting German motor books
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Swiss Re pegs Ian losses at $1.3 billion
The reinsurer estimates the total insured market loss from Hurricane Ian at $50 billion to $65 billion
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Total economic damage from Ian to breach $100 billion, says KCC
Cat modeller predicts high proportion of litigated claims due to ‘tremendous amount’ of coastal flooding
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Inflation a major wildcard for Florida recovery - RMS
’Wind versus water’ claims disputes to arise post Ian, with full recovery likely to “take years”
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Verisk pegs Ian losses at $42 to $57 billion
Ian brought significant storm surge damage, however, the flood insurance take-up on residential risks in Florida are low
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Extent of Fiona-related losses depends on grid restoration
Hurricane losses in Puerto Rico and the Dominican Republic will be influenced by duration of BI due to power losses - AM Best
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PERILS adds European flood to its repertoire
Demand is growing for industry loss triggers as cedants seek alternatives amid the ongoing hard market - CEO Hitz
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AM Best puts US personal lines sector on negative
Rising reinsurance rates, shrinking capacity, inflation and secondary perils are putting primary carriers under pressure
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Reinsurance market reaches ‘a tipping point’ - Howden
Risks are escalating as the world lurches from one crisis to another, bringing about a fundamental shift in supply and demand, warns broker
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Claims inflation could offset premium gains - Moody’s
The four largest European reinsurers reported a 47% decline in combined net profits for the first half of 2022
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Inflation will “hurt” profitability of European insurers
Premium growth is expected to be slower and the average cost per claim is expected to rise, finds GlobalData
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Lloyd’s has ‘duty’ to insure Ukraine grain shipments
Chief executive John Neal said Lloyd’s was “the first cab off the rank” when it came to providing insurance coverage
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Global insurance premiums to surpass $7 trillion in 2022 - sigma
However, the combination of a sharply slowing global economy and a multi-decade-high inflation will weigh on total premium growth
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Commercial rates rise for the 18th consecutive quarter
Hard market is beginning to moderate but inflationary pressure could impact pricing going forward - Marsh
