Markets
Lloyd’s Ian Claims More Than $2B
On Friday, Lloyd's announced that claims to the Lloyd's market arising from Hurricane Ian are estimated to be in the range of $2.3 billion to $3 billion. The estimate is based on third-quarter data ...
Persistent ‘Underperformance’ at SCOR Prompts S&P Downgrade to A+
S&P Global Ratings announced that the rating agency is lowering the AA- financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, ...
Commercial P/C Rates Up for 20th Straight Quarter: CIAB
Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of Insurance Agents and Brokers ...
Studies Find Automatic Braking Can Cut Crashes over 40%
Two new U.S. studies show that automatic emergency braking can cut the number of rear-end automobile crashes in half and reduce pickup truck crashes by more than 40 percent. The studies released ...
RMS: Less Than $2B in Insured Losses From Hurricane Nicole
Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion. This estimate represents insured ...
Where Carriers Are Spending: The Investments Driving Underwriting Change
Although nearly two-thirds of underwriting professionals surveyed in 2021 said that AI and automation tools aren't easing their workloads—and 28 percent said their workloads have ...
European Countries Face Strikes, Protests Due to High Energy Prices, Cost of Living
European countries are facing strikes and protests due to high energy prices and mounting costs of living. Here are details of some recent and current industrial actions and demonstrations. BRITAIN * ...
UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Jan. 1
The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the ...