Underwriting
Munich Re Pauses Selling Pandemic Business Coverage After Big H1 Losses
Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half. ...
Underwriting Discipline Will Rule With January 1 Reinsurance Renewals
Economic uncertainty and volatility, in combination with COVID-19-related losses, is leading to a heightened level of cautiousness among property reinsurers unless pricing and terms and conditions ...
You are shopping for a new refrigerator. How do you choose? One is the right size from a durable brand...
Global Reinsurers Face Major Hardening Market Over Next Two Years: Munich Re
Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to ...
COVID-19 Crisis Reveals Contract Clarity Lessons, Digital Opportunities: Flandro
In every crisis, lessons must be learned, but opportunities also are revealed. And so it goes with the COVID-19, which has shown the need for contract certainty in the re/insurance industry, while at ...
Despite COVID Losses, Lloyd’s Underlying Underwriting Results See Big Improvement
While Lloyd's overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market's underlying underwriting performance saw a "huge improvement," which Chief ...
Ransomware Attacks Soar and Grow More Malicious: Coalition
Ransomware attacks grew by nearly 50 percent in the 2020 second quarter compared to the first three months of the year, underscoring the risks created by pandemic-related work-from-home requirements, ...
Department Store Blames Unresolved Business Interruption Claims for Causing Bankuptcy
Century 21 Stores, an iconic New York off-price department store chain, filed for bankruptcy with plans to shut down, becoming the latest victim of the retail industry carnage that's accelerated ...
Some Fear California’s Latest Wildfires Could Spark a Financial Crisis
Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets, an advisory ...