Specific terms and technical meanings can be misinterpreted and the difference in language used by insurers and insureds could lead to underinsurance when taking out business interruption cover
Insurers and reinsurers sponsored $3.1bn (£2.2bn) in catastrophe bonds in the first quarter of 2018, up 34% from the first quarter of 2017, according to data analytics provider PCS.
The downstream energy sector suffered its worst loss record for nearly a decade in 2017 with low rating levels exacerbated by one of the worst catastrophe loss years on record.
The National Flood Insurance Programme would be extended to 31 July as part of a $1.3trn federal spending package signed by President Trump on Friday despite threatening to veto the bill earlier the same day.
This week I attended my first Maths Jam, a gathering of self-confessed maths enthusiasts who get together in a pub and share stuff they like.
The underlying underwriting performance of Lloyd’s syndicates needs to improve following the market's first loss in six years, John Parry has said.
Cyber insurers can gain market share by differentiating their products. Benedict McKenna, vice-president and London operations claims manager at FM Global, explains how.
Munich Re is to axe 900 jobs as part of cost saving efforts in its reinsurance business.
Well-publicised gains in Charles Taylor’s loss adjusting and insurtech arms saw revenues jump 25% in 2017 but failed to push the insurance services provider to profit.
Tokio Marine Kiln expects its Lloyd’s syndicates to post a loss for the 2017 year of accounts as a result of fourth quarter catastrophe losses.
Lloyd’s insurer Lancashire reported a net loss of $71.1m (£50.5m) for 2017 as fourth quarter natural catastrophes took their toll on its bottom line.
Axis Capital's insurance segment saw fourth quarter gross written premiums increase 47%, bolstered by the group’s acquisition of London market carrier Novae.
Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
This week the results season well and truly got underway with big names in the UK’s insurance sector reporting back to market on how they fared over 2017.
Chubb reported net income for the fourth quarter ended December 31, 2017 of $1.53bn, a drop from the $1.61bn reported for the same quarter last year.
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Lloyd’s carrier Beazley said it expects to post a pre-tax profit for 2017, ahead of market expectations and in despite of hefty nat cat bills in the fourth quarter.
AM Best is maintaining a negative outlook for the US property and casualty reinsurance sector due to continued pressure on property catastrophe rates.
Munich Re and Easyjet have teamed up on a flight cancellation insurance product.
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
John Eves has replaced Jonathan Clarke as president of the Chartered Institute of Loss Adjusters. Eves will balance his new responsibility alongside his role as managing director of Irish loss adjusting firm, Thornton & Partners. The new Cila president,…