The issuance of catastrophe bonds has reached a new high, as the market braces for a tough hurricane season with the potential to cause significant damage.
Author: Annie George
U.S. Chamber of Commerce Research Shows Nuclear Verdicts’ Amount, Frequency Continue to Increase
Massive jury awards of $10 million or more—known as “nuclear verdicts”—continue to increase in size and frequency, according to a new study released today by the U.S. Chamber of Commerce Institute for Legal Reform.
Extreme Weather Disrupting the Finer Things in Life
As the world warms, extreme weather is disrupting the production of some of life’s great comforts—wine, olive oil, coffee and cocoa. Some of these crops are concentrated in one or two regions, which means wonky weather in one part of the world can have a dizzying impact on global prices.
AM Best Revises Outlook for Global Reinsurance Industry to Positive
AM Best has revised its market segment outlook for the global reinsurance segment to positive from stable, citing robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing.
High Insurance Costs Threaten Affordable Housing
Overall, nearly one-third of affordable housing providers reported insurance increases of at least 25 percent, according to a survey conducted last fall by the National Leased Housing Association, whose members provide federally assisted rental housing through vehicles such as vouchers and tax credits.
DOXA Expands Mental Health and Wellness Presence with Acquisition of CPH Insurance
DOXA Insurance today announces the acquisition of CPH Insurance, a Chicago-based specialty managing general agent (MGA) providing professional liability products for mental health, allied health and healthcare professionals.
Brown & Brown Acquires Rollins Insurance—Family Business to Join ABL Group
Brown & Brown (Europe) Ltd has acquired 100% of the equity capital of T Oscar Rollins & Company Ltd, trading as Rollins Insurance Brokers.
Best’s Special Report: P/C Industry Turns Around Losses in Q1 2024, Records $9.3B Underwriting Gain
The U.S. property/casualty (P/C) industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, a significant improvement from the $8.5 billion loss recorded in the same prior-year period, according to a new AM Best report.
U.S. Insurance Personal Auto Recovering, Homeowners’ Volatility Continues
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024 amid signs that the previous surge in claims severity from higher inflation and supply chain shortages has subsided, combined with rapid written premium growth from large rate increases, Fitch Ratings says.
NSM Insurance Group Acquires Strategic Underwriters International
NSM Insurance Group, a global specialty insurance provider with more than $1.8B in premium across 25+ niche insurance programs, today announced the completion of its acquisition of Strategic Underwriters International (SUI).