S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023
A hard market in short-tail lines — such as property and property catastrophe — across global geographies is likely to continue throughout 2023, after beginning the ...
Markets
WTW Launches Cyber Facility, Providing Excess Capacity Globally
A new excess layer cyber facility, called CyXS, was launched by WTW, providing excess layer cyber capacity for global clients. Key elements of the facility ...
January Reinsurance Renewals Were Most Challenging in 2 Decades: MMC’s Doyle
The most challenging January reinsurance renewals in nearly two decades saw global property-catastrophe rate increases of 25-60 percent, with loss-affected clients facing ...
Climate Is Forcing the Most Risk-Aware Industry to Reinvent Itself
When it comes to climate impacts, the front line of the finance industry is insurance. Last year's payout from damages caused by extreme weather events totaled $120 ...
Tesla, Insurers Address Expensive Repairs in Sharply Different Ways
Tesla Inc.'s electric vehicles are expensive to repair — so much so that the automaker and insurers are addressing the issue in sharply different ways.
Chief Executive ...
Progressive Puts Targeted 96 Combined Ratio in the Books for 2022
In a report on financial results for the month of December, which was published on Tuesday, Progressive revealed that the company met its frequently stated goal of posting a 96 combined ratio again ...
Tesla Competing With ‘GEICOs of the World’ to Lower Insurance Prices
While executives of Tesla said the car maker's insurance business isn't yet big enough to warrant separate financial disclosure of its results, Chief Executive Officer Elon Musk reiterated a benefit ...
SCOR Says Swiss Re CUO Léger Is Next CEO
The SCOR Board of Directors has appointed Swiss Re Chief Underwriting Officer Thierry Léger as chief executive officer of SCOR. Léger will take up his post as CEO of SCOR with effect from May 1, ...
Insured Losses For Calif. Floods $3.5-$6.5B Below Total Loss: RMS
Moody's RMS estimates total economic losses from the recent California flooding at between $5 billion and $7 billion, and insured losses are anticipated to be between $500,000 and $1.5 billion, ...
Cowbell Launches eLearning Academy Dedicated to Cyber Insurance
Cyber insurer Cowbell on Wednesday announced the launch of Cowbell Academy, a new institution that offers insurance agents and brokers lessons on cyber insurance.