Markets
Reinsurers Retreat From U.S. Disaster Hotspots on Climate Risks
Reinsurers are increasingly reconsidering their business in natural disaster-prone locations including California and Florida as losses mount, according to Moody's Investors Service. Climate change ...
Reinsurance Price Hikes to Boost Underwriting Margins
In a report published Tuesday, Fitch Ratings forecasted that sharp reinsurance price hikes achieved during Jan. 1 renewals will improve underwriting margins for its rated global reinsurance universe ...
Beazley Launches Global Re/Insurance Market’s First Cyber Catastrophe Bond
Specialist insurer Beazley has launched the global insurance market's first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million ...
Seattle Schools Sue Social Media Platforms Over Mental Health Crisis
The public school district in Seattle has filed a novel lawsuit against the tech giants behind TikTok, Instagram, Facebook, YouTube and Snapchat, seeking to hold them accountable for the mental ...
Cat-Exposed Property Highlights Q4 Rate Increases: MarketScout
According to MarketScout's Market Barometer, the fourth-quarter 2022 composite rate for U.S. commercial lines was up 5.1 percent. The Dallas-based distribution and underwriting company said property ...
Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Insurance brokerage USI is forecasting that half of 32 commercial insurance product lines analyzed will experience softer pricing in the first half of 2023—including a predicted "buyer's market" ...
D&O Insurer Dodges Coverage for $4.9M Embezzlement Scheme
A directors and officers insurer has no duty to defend a New Mexico financial organization from litigation filed after its former chief executive officer was convicted of stealing $4.9 million from ...
January Renewals See Hardest Property-Catastrophe Reinsurance Rates in Generation
A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a "complex," "grueling" and "late" January renewal season, which went down to the ...