News – Page 35
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NewsFrom Mariupol to Gaza – measuring political violence losses with Charles Taylor Adjusting
Loss adjustment from warzones is a service in high demand, given the geopolitical state of the world in 2024, and the rising prominence of war, political violence and terrorism business among London market re/insurers.
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NewsAI and insurance: ‘The Hare and the Tortoise’ – Earnix CEO interview
The insurance industry is renowned for its conservatism; AI on the other hand, is talked of in revolutionary terms; where and how will the two meet?
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NewsBetter risk selection could cut 16% from cyber insurers’ loss ratios – Gallagher Re
After a global study of 62,000 organisations, the reinsurance broker suggests removing “most at risk entities” from cyber insurance books could reduce loss ratios by up to 16%.
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NewsIndustry relevance focus at Baden-Baden for Guy Carpenter, Swiss Re
Reinsurance broker Guy Carpenter emphasised “clearly defined roles”, partnership and innovation for its Baden-Baden Reinsurance Symposium.
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NewsIUMI’s marine insurance stats reveal premiums rise
A 2024 analysis of the global marine insurance market was released by the International Union of Marine Insurance.
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NewsBaden Baden: Hannover Re expects German floods to lead to price gains
Severe weather means the German reinsurer anticipates further price increases and improved terms at January renewals.
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NewsEXPANDING HORIZONS: RVS Global Executive Breakfast Roundtable 2024
As its role as a leading reinsurance market hub continues to evolve, what’s next for the DIFC? And what can the experiences of other reinsurance hubs around the globe teach us? Our breakfast discussion at Monte Carlo’s Rendez-Vous de Septembre 2024 sought to find out.
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NewsAI adoption in the insurance sector: views may differ – Earnix
Many people are still getting their heads around what artificial intelligence means. Perceptions of it vary considerably, for a technology based on data and certainty, with plenty of uncertainty about how its insurance industry rollout should proceed, Aaron Wright, director of Strategy, Earnix, tells GR.
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NewsMilton to cost $26bn “best estimate” insured loss – Moody’s RMS
Hurricane Milton will cost insurers and reinsurers somewhere in the range of $22-$36bn, according to Moody’s RMS Event Response.
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NewsVerisk puts $30-50bn insured loss range on Milton
Hurricane Milton hit south of Tampa, making landfall in Siesta Key and South Sarasota around on 9 October as a Category 3 hurricane.
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NewsLebecq appointed as Miller’s COO
The insurance and reinsurance broker appoints former CEO of the London Market Group Clare Lebecq as its chief operating officer.
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NewsAon announces Hofmann as new US reinsurance CEO
Two new senior leadership roles in the US for reinsurance broker Aon.
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NewsMoody’s RMS puts $35-55bn insured loss estimate on Helene and Milton combined
Catastrophe modeller Moody’s RMS will issue its final industry-insured loss estimate for Hurricane Milton later this week.
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NewsWhitespace US expansion reflects E&S boom – Verisk’s Gaydos
Verisk’s Greg Gaydos explained why the US excess and surplus lines are the natural next step for its Whitespace product.
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NewsMilton makes Florida landfall south of Tampa
Hurricane Milton’s US landfall came at Siesta Key as a category three storm, leaving more than two million homes and businesses without power.
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NewsRisk of US civil unrest highest level since BLM – Verisk Maplecroft
Verisk warned conditions are “on a par” with those just before the BLM protests and riots following the death of George Floyd in US police custody, which cost approximately $3bn in insured losses in 2020.
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NewsVerisk puts $6-11bn insured loss estimate on Helene
Catastrophe modeller Verisk estimates industry insured losses in the US for Hurricane Helene will range between $6-11bn.
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NewsSoft market for power and offshore energy – two broker reports
Absence of major losses means competitive pricing in power insurance, according to WTW, while offshore renewables faces a long-term soft market, NARDAC said.
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NewsProfit eludes US homeowners’ insurance market – Aon report
“Strong rate activity” isn’t enough to turn around negative to low ROEs for US homeowners insurance carriers, the broker has warned.
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NewsMoody’s RMS puts $11bn insured estimate on Helene
Hurricane Helene will cause an insured loss of between $8bn and $14bn, according to the estimate of catastrophe modeller Moody’s RMS.
