All social inflation articles
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NewsRatings maintained after reserve strengthening at Everest
Reserve additions for US casualty business adding up to $1.7bn for Everest Group did not change its credit ratings for AM Best.
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News‘Inflection point’ reached in US casualty reserving – Lockton Re
Reinsurance broker’s paper highlights potential end to material adverse development in casualty lines for calendar year 2025.
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News‘No signs of social inflation abating’ – Swiss Re
Drivers include societal trends, changing behavioural norms, greater use of the legal system, and “rapid growth in settlement awards”, says reinsurer’s chief economist, speaking at RVS 2024 in Monte Carlo.
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NewsMunich Re’s Winter predicts a hard market for casualty in 2024
The casualty reinsurance market is firming up, due to US legal trends and inflation, said Marcus Winter, president and CEO of North American P&C reinsurance at Munich Re.
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News2022 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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NewsFlorida 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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NewsHurricane Ian drives 2022 nat cat losses to $115 billion
Ian is the second-costliest insured loss ever on sigma records after Hurricane Katrina in 2005 - Swiss Re Institute
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NewsBaden Baden: Litigation could significantly inflate Ian loss - Verisk
Loss creep on Hurricane Ian claims are likely as inflation and social inflation drive up costs, thinks Yörn Tatge
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NewsTotal 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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NewsInflation 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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NewsVerisk 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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NewsPressure builds ahead of mid-year renewals
Most monoline Gulf carriers were not able to complete their catastrophe reinsurance treaties, including Citizens
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NewsUS D&O market posts best results since 2014
Rate hikes exceeding 10% per quarter fuelled direct premium growth of 35% to $14.6 billion
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NewsFlorida property insurers under “immense pressure”
Elevated reinsurance costs, coupled with higher loss and litigation costs, are challenging Florida property insurers - AM Best
