Reinsurers hike rates on key business lines by as much as 200% from Jan. 1.
Tag: property reinsurance
New Florida Property Insurance Law ‘Generous’ to Insurers: Opinion Column
Gov. Ron DeSantis recently signed Senate Bill 2-D into law and, in so doing, gave the insurance industry a generous benefit at the expense of Florida property owners. The law is essentially another layer of reinsurance — it’s a $2 billion fund (plus additional money from the general budget if the governor so desires) that… Continue reading New Florida Property Insurance Law ‘Generous’ to Insurers: Opinion Column
Amwins: Climate Change an Increasing Factor in Reinsurance Pricing
Ongoing climate change is expected to influence pricing decisions for property reinsurers, stifling price cuts in the short term. That’s the message from Jessica Zuiker, Amwins Group’s assistant national property practice leader, and Rich DiClemente, Amwins Re’s president. The pair cited last year’s losses as a result of natural disasters. “With losses totaling $145 billion,… Continue reading Amwins: Climate Change an Increasing Factor in Reinsurance Pricing
Some European Reinsurance Rates Rise by Over 50% at Jan 2022 Renewals
According to a report released on Tuesday by broker Gallagher Re, some European property reinsurance rates increased by more than 50% at January 1 renewals after the region experienced record insured losses from natural disasters such as floods and storms last year. Reinsurers insure insurers, and increases in reinsurance rates are frequently passed on to… Continue reading Some European Reinsurance Rates Rise by Over 50% at Jan 2022 Renewals