Geopolitical and economic risks are worrying Marsh McLennan’s clients as the broker sees rising costs for risks from catastrophes, social inflation and reinsurance, said its chief executive officer.
Tag: insurers
Climate Risk Threatens Insurability of Some Coastal Communities, Analysts Warn
Coastal communities could see their property values plummet as catastrophe-prone areas spur billions of dollars in losses — and have private insurance companies scaling back or leaving certain markets altogether, a new report warns.
As Storm Damages Mount, States Try to Make It Harder to Sue Insurers
A few hard-hit states are trying to ease the pain on insurers by making it harder for lawyers to sue. Insurers have long complained that aggressive lawyers with dubious claims have led to higher premiums for their customers.
Florida Office of Insurance Regulation Approves Two New Property and Casualty Insurers
The Florida Office of Insurance Regulation (OIR) has approved Orion180 Select Insurance Company and Orion180 Insurance Company to form as property and casualty insurers in Florida.
Insurer’s Retreat in Florida Signals Crisis with No Easy Fix
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?
Democrats on U.S. Senate Budget Committee Open Investigation into Major Insurers
Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers’ “support” of new fossil fuel projects, on the heels of an industry retreat from areas prone to climate risks.
Verisk Grows Premium and Loss Database for Third Consecutive Year
Verisk continues to recruit and secure new contributors to its industry-leading ISO Statistical Database.
Stop Insuring Carbon Projects ‘Immediately’, Activists Tell Bosses
A group of climate activists has called on 30 insurance company bosses to “immediately” stop underwriting new fossil fuel projects.
Insurers Say Cyberattack that Hit Merck Was Warlike Act, Not Covered
The costly NotPetya cyberattack, which the U.S. blamed on Russia, should be considered a “cyber nuclear attack,” insurers argued.
Insurers Continue to Drive Meaningful Action in Refusing to Finance Oil and Gas
In the run-up to COP27, insurers appear to be the financial services sector driving meaningful action, as banks seek to refine their commitments as members of the Glasgow Financial Alliance for Net Zero (GFANZ) and Race to Zero coalitions.