Markets
They’ll Be Back: RenRe CEO Predicts Cedent Demand for Re Limit Will Rise
Although insurance companies that may have wanted more reinsurance coverage going into the 1/1 renewals elected to close their wallets in the face of rising rates, they will ultimately seek that ...
Slide Will Assume 91,000 Policies and Premium in United P&C Runoff in Florida
One year after Slide Insurance made waves by taking over thousands of policies from a troubled Florida carrier, the young company has done it again. The Florida Office of Insurance Regulation on ...
Coalition Launches Full-Stack Cyber Insurer
Coalition announced it has launched a full-stack cyber insurance carrier. Coalition Insurance Company (CIC), which the InsurTech calls the "the first full-stack, active cyber insurance carrier," ...
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 year with multi-decade-high ...
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 include: Capacity: Access to up to 50 ...
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 even higher prices, ...
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 billion—about the same as the ...
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 Elon Musk says Tesla is ...