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Insurer’s Retreat in Florida Signals Crisis with No Easy Fix

Florida insurance market

Insurers are trapped in a riddle: In a world where the risk of costly disasters is rising but high premiums are squeezing policyholders and angering state regulators, how can they continue to make money?

U.S. P/C Insurers Record Q1 $8.2B Underwriting Loss: AM Best

Cat losses - Goldman Sachs

The U.S. property/casualty insurance industry posted an $8.2 billion net underwriting loss for the first three months of 2023, an $11.6 billion swing from the first quarter of 2022, according to research from AM Best.

A World Wanting Payback Pulls Insurers Into Epicenter of Crisis

Back view of a crowded audience on a music festival with their arms raised.

Roger Federer and Rafael Nadal locked in spell-binding battle. Paul McCartney sharing a stage with Kendrick Lamar and Taylor Swift. The long-awaited 32nd Olympic Games. The list of canned crowd-thrillers that were planned for the coming weeks isn’t just bad news for event organizers, sports groups, entertainers and the like. The financial fallout has dealt… Continue reading A World Wanting Payback Pulls Insurers Into Epicenter of Crisis

Major 2020 Losses Inevitable for Insurance Industry

Microscopic illustration of the spreading 2019 corona virus that was discovered in Wuhan, China. The image is an artisic but scientific interpretation, with all relevant surface details of this particular virus in place, including Spike Glycoproteins, Hemagglutinin-esterase, E- and M-Proteins and Envelope.

Ironic Concerns from Before the Quarantine At the end of 2019, insurance executives were polled to find out what most concerned them in 2020. The list is almost comical to read now under the current circumstances. The number one concern was cybersecurity, followed by disruptive technologies. The rest of the list is full of the… Continue reading Major 2020 Losses Inevitable for Insurance Industry

Insurers Face Biggest-Ever Losses, Warns Lloyd’s Chief

Microscopic view of Coronavirus, a pathogen that attacks the respiratory tract. Analysis and test, experimentation. Sars. 3d render

Lloyd’s of London boss John Neal has said that the coronavirus pandemic is likely to be the most expensive event in history for the insurance industry, dwarfing other major disasters such as Hurricane Katrina in 2005 and the 9/11 terror attacks. Insurers are set to pay out on a wide range of policies, from event… Continue reading Insurers Face Biggest-Ever Losses, Warns Lloyd’s Chief