WTW, a leading global advisory, broking and solutions company today announced a partnership with Ukrainian insurer, VUSO, to provide a London market backed facility covering cargo and, crucially, war-on-land risks.
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IICF to Gather Industry Leaders for Five Regional Forums on Future of Work and Belonging
The Insurance Industry Charitable Foundation (IICF) will host the IICF Regional Forums throughout June in five cities for greater local participation.
Cyber Threats Rise Along with Scrutiny of How Companies Respond
Cybersecurity threats increased for businesses over the past year, according to a Wall Street Journal survey of compliance professionals.
Homeowners Insurance Less Affordable for Consumers Over the Last 20 Years: IRC Study
Homeowners insurance affordability has deteriorated over the last two decades, driven by frequency and severity of natural disasters, economic conditions, rising construction costs and litigation, according to a new Homeowners Insurance Affordability report by the Insurance Research Council (IRC).
Stable P&C Market Conditions Set to Continue into 2025: Hannover Re CEO
Jean-Jacques Henchoz, CEO of global reinsurer Hannover Re, has suggested that the stable outlook for the P&C market is set to continue, given there are no significant new entrants in the space.
California Prosecutor Sues USAA Over Alleged Scheme to ‘Lowball’ Offers for Members’ Totaled Cars
An embattled California prosecutor has filed a civil lawsuit against insurance companies USAA and Progressive Corp. alleging that they have carried out a scheme to defraud customers by making “lowball” offers for vehicles totaled in accidents.
Rate Hikes Support First-Quarter Premium Growth for QBE Insurance
Rate increases boosted modest premium growth in the first quarter for QBE Insurance Group Ltd., as the international underwriter noted catastrophe losses in line with its allowance.
Catastrophe Bonds Based on Models that Often Underestimate Climate Risks
Catastrophe bonds and other insurance-linked securities, which powered last year’s highest-returning hedge fund strategy, are built on calculations that can underestimate a new breed of risk stemming from high-frequency events such as wildfires and thunderstorms, according to veteran investors.
New Florida Law Roils Its Condo Market Three Years After Surfside Collapse
While the sharp rise in Florida home insurance costs is driving some to sell, most of the units on the market are in buildings 30 years or older. Under a new law, buildings must pass milestone structural inspections no later than 30 years after they are built.
Legal-System Abuse Hurts Insurers, Consumers: AM Best Interview with I.I.I. CEO
Sean Kevelighan, chief executive officer of the Insurance Information Institute, discusses how so-called nuclear verdicts, litigation funding and other legal-system abuse drive up claims costs and ultimately lead to higher premiums for consumers.