Lloyd’s and insurance technology provider Velonetic said they postponed a cutover phase to digital services, scheduled for October, citing safety and market readiness concerns.
Author: Annie George
Insurance Critical to Mobilizing $10 Trillion of Committed Climate Transition Investment: Howden
According to a new report from Howden, more than half of the $19 trillion committed to financing the climate transition through to 2030 will require additional insurance, suggesting that corporations should engage the industry from an early stage in their climate risk management planning to secure adequate supply of capacity and long-term coverage.
MGA Ledgebrook Launches Architects and Engineers Product with Obsidian
Excess and surplus managing general agent Ledgebrook said it will expand its professional lines offerings with an architects and engineers product in partnership with Obsidian Insurance Holdings.
D&O Pricing Softens As Premiums Continue to Decline
Favorable underwriting results in the U.S. directors & officers (D&O) liability line will likely add downward pressure on rates amid decreased demand in the segment, according to a new AM Best report.
Major U.S. Insurers Make Progress on Climate Disclosures, but Significant Gaps Remain
A new report released today by Ceres reveals that while major U.S. insurance companies are making progress in disclosing their climate-related risks and strategies, significant gaps and disparities persist across the sector.
Home Prices Hit a Record High
Home prices rose in May to a new high, with low inventory continuing to spur bidding wars among home buyers in some markets.
Homebuying Is Changing in Florida
The turbulent property insurance market, while improving, has changed the way people buy houses in the Sunshine Sta
New York Legislators Pass Climate Superfund Bill
New York legislators passed a bill last week that would charge fossil-fuel companies a total of $3 billion a year for 25 years to pay for costs associated with climate change.
Attacks on the Red Sea Disrupt Global Trade, Market Watchers Say
Israeli-owned ships are facing particularly high insurance rates due to being directly targeted as Red Sea shipping attacks continue, according to AM Best Senior Economist Graziano Brady. Some insurers are refusing to cover these ships altogether, he said.
CDK Global’s Cyber Incident Briefly Shuts Down Car Dealership Services Across U.S.
Retail technology and software provider CDK Global was investigating a cyber incident and had briefly shut down all its systems proactively, it said on Wednesday.