Natural catastrophes (Nat Cats)
2017 catastrophes to hit QBE's profits for $600m
Sydney-headquartered global insurer QBE has updated the market that recent losses in Mexico and the US will have a significant impact on full year profits.
Hiscox forecasts rates rise and $225m in Harvey and Irma claims
London market insurer Hiscox anticipates the combined net cost of claims from hurricanes Harvey and Irma to be around $225m (£170m).
Beazley anticipates $150m hit from Atlantic hurricanes and Mexico earthquakes
Beazley expects to take a $150m (£112m) hit on earnings as a result of hurricanes Harvey, Irma and Maria as well as the recent earthquakes in Mexico.
Lloyd's suspends H1 profit release to take stock of Harvey and Irma impact
Lloyd's has suspended the release of first-half profits until it can accurately assess the financial impact of Harvey and Irma, the market's chief financial officer has said.
Maria industry losses could total $85bn
Industry insured losses for Hurricane Maria in the Caribbean will be between $40bn and $85bn, according to AIR Worldwide.
Capsicum's Chris Hardcastle on the capacity struggle facing MGAs
Managing general agents are popping up all over the place but capacity is coming under pressure. Chris Hardcastle, managing director of Capsicum Delegated Authority, asks if there is enough capacity to go round.
Hiscox estimates Harvey impact at $150m
Hiscox anticipates the impact Hurricane Harvey to produce net claims of $150m (£110.6m).
Harvey highlights insurance penetration shortfall says Aon Benfield
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.
Reinsurance role at an ‘inflection point’ for disaster relief: WTW CEO
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.
Catlin calls for industry cooperation on tackling protection gap
Industry veteran Stephen Catlin has called on the reinsurance and insurance sector to cooperate and work together in closing the protection gap.
Prejudice against insurance driving protection gap, says Swiss Re CEO
A lack of understanding of insurance and prejudice against the sector is hampering progress in closing the protection gap said, Swiss Re’s CEO.
Hurricane season highlights need to maintain adequate catastrophe loading, says Lloyd’s
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.
Harvey and Irma are not market turners, says Hancock
The financial fallout from hurricanes Harvey and Irma will not be enough to turn the market, according to Lloyd’s performance director Jon Hancock.
Lloyd’s sets sights on underinsured markets: Vandendael
Underinsured markets represent a major opportunity for Lloyd’s, the markets chief commercial officer has said.
Beale calls for ‘urgent’ flood insurance reform
Hurricane Harvey and Irma both highlight the problem of inadequate flood insurance and need for reform in the United States, Inga Beale has said.
Lloyd’s catastrophe exposure driving ratings downgrade
The current catastrophe exposure of Lloyd’s has left the market vulnerable, Fitch Ratings has said.
AIR pegs Irma insured losses at $20bn-$65bn
Hurricane Irma could result in insured losses of $20bn to $65bn, according to a preliminary estimate from AIR Worldwide.
Lloyd's report pegs Miami windstorm at $131bn as Irma heads for Florida
Hurricane Irma could see industry property losses of $131bn, according Lloyd's realistic disaster scenario analysis.
Analysis: Renewables - Riding out the storm
The risk landscape in renewable energy is constantly changing and underwriters need to exercise proper due diligence, argues Fraser McLachlan, CEO of Gcube Underwriting.
Property losses to exceed $65bn after Hurricane Harvey, says AIR Worldwide
The expected cost of total uninsured and insured property losses in the US from Hurricane Harvey is likely to be between $65bn (£50bn) and $75bn according to catastrophe modeling firm AIR Worldwide.
Claims Conference Sydney 2017: four key themes
The inaugural Claims Conference Sydney took place on 29 August. Chairman Andrew Tjaardstra summarises four key themes from the event.
State of emergency in Florida as Hurricane Irma approaches
Florida governor Rick Scott has declared a state of emergency for every county in the state as powerful storm Hurricane Irma approaches.
Blog: Harvey, a CAT adjuster's testimony
Crawford and Company has deployed more than 200 adjusters in Southern Texas to assess the damage caused by Hurricane Harvey. One of them, James Warren, whose own home has been damaged, describes the streets as eerie as there is no power, no road signs,…
Harvey unlikely to drive ratings downgrades
Hurricane Harvey is unlikely to trigger ratings downgrades for property and casualty insurers and reinsurers, said Fitch Ratings.