WTW and The Nature Conservancy (TNC) today announced the United States’ first-ever coral reef insurance policy.
Author: Annie George
All PEOs Aren’t Created Equally
Professional Employer Organizations (PEOs) are Human Resources (HR) service providers that help businesses with HR services, like processing payroll and ensuring compliance.
Inflation Is Primary Factor in Premium Increases: CIAB
Market conditions remained difficult in the third quarter of 2022, with respondents reporting an average premium increase of 8.1% across all account sizes, up from 7.1% in the second quarter.
Rising Rates and High Prices Cool Housing Market for Investor Home Buyers
Investor home purchases fell 30% in the third quarter, indicating that the rise in borrowing rates and high home prices are causing these firms to pull back.
RIMS Supports the Development of a Cyber Insurance Backstop
RIMS issued a comment letter to the Federal Insurance Office (FIO) regarding a federal backstop for large-scale catastrophic cyber incidents impacting infrastructure.
HUD to Allow Private Flood Insurance Options to FHA Mortgages in Special Areas
Beginning December 21, 2022, HUD will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies from private insurance providers.
Fitch: U.S. Insurers to Navigate a More Precarious Economy in 2023
The U.S. economy is headed for a mild recession next spring, with different outcomes for all major insurance sectors.
Lloyd’s Estimates Hurricane Ian Claims Up to $3 Billion
Lloyd’s announced that claims from Hurricane Ian are estimated to be in the range of $2.3bn – $3bn net of reinsurance.
Hard Market, Higher Interest Rates to Spur Insurer Growth
Swiss Re Institute expects the insurance industry to return to premium growth of 2.1% annually on average in real terms in 2023 and 2024.
U.S. Supreme Court Refuses to Hear Challenge to Seattle’s Hotel Worker Health Insurance Mandate
The U.S. Supreme Court denied a challenge to a 2018 Seattle law requiring hotels to pay for health insurance for low-wage workers.