The chief operating officer of Co-op Insurance has called on the insurance industry to collaborate better during major flood events.
The insurance industry is not doing enough to protect clients from underinsurance in liability claims as a result of the Ogden discount rate changes, the sector has been warned.
A significant proportion of the flood losses generated by Hurricane Harvey in Texas and Louisiana will be uninsured, highlighting the existence of a global protection gap, Aon Benfield has said.
The global reinsurance sector is at an inflection point in how it is utilised by the humanitarian sector, according to Willis Towers Watson’s CEO of capital science and policy.
Industry veteran Stephen Catlin has called on the reinsurance and insurance sector to cooperate and work together in closing the protection gap.
The active hurricane season is a timely reminder for underwriters to maintain discipline and adequate catastrophe loading on rates, Lloyd’s Jon Hancock has said.
The financial fallout from hurricanes Harvey and Irma will not be enough to turn the market, according to Lloyd’s performance director Jon Hancock.
Hurricane Irma could result in insured losses of $20bn to $65bn, according to a preliminary estimate from AIR Worldwide.
Hurricane Irma could see industry property losses of $131bn, according Lloyd's realistic disaster scenario analysis.
Hurricane Harvey is unlikely to trigger ratings downgrades for property and casualty insurers and reinsurers, said Fitch Ratings.
Hurricane Harvey could be the most expensive natural disaster in American history, costing the US economy $190bn, according to AccuWeather.
Economic losses caused by wind, storm surge, and inland flooding from Hurricane Harvey could be as high as $90bn (£69.6bn), according to data from risk modelling firm RMS.
Premium growth at Lloyd's is likely to slow as competition intensifies and economic growth remains tepid, according to Moody's Investors Service.
Commercial and residential landlords are facing increaded risks from a more litigious society and Nigel Todd, head of real estate at JLT Specialty, questions whether liability limits being purchased are sufficient for the increased exposures.
Hurricane Harvey’s deluge of wind and rain across Houston and the Texas Gulf Coast hurt the shares of London Market property and casualty insurers on Tuesday as analysts peg insured losses as high as $20bn (£15.5bn).
Inland flooding, hurricane winds, and life-threatening storm surge poses a severe risk from Hurricane Harvey, according to catastrophe modelling firm AIR Worldwide.
Under half of risk managers are prepared for a major claim, a survey has revealed.
Estimated insurance industry losses from the earthquake that struck Italy in August last year has been increased by 64% to €108m (£99.4m), according to Perils.
Ageas UK has been forced to inject £24m into its Retail broking division to patch up an £18m dent left in the unit’s finances following the closure of Kwik Fit Insurance services.
New types of insurance could cut the costs of natural disasters for poorer countries and reduce the amount of humanitarian aid needed, according to a new report.
Global loss adjuster Cunningham Lindsey has appointed two UK operations directors, Stephen Kerr and Scott Cameron in the South and North of the UK respectively.
Lloyd’s of London has outlined plans to enhance and speed up recovery in the aftermath of a market turning event, an insurable loss so significant it results in a rapid upturn in pricing.
A major global cyber attack could trigger $53bn of economic losses, the equivalent 2012’s Superstorm Sandy, according to a report from Lloyd’s.