Markets
All The Latest Insurance Company Estimates: Hurricane Ian Losses (as of 10/20)
A recap of individual company estimates, net of reinsurance, summing to over $7.5 billion as if Oct. 20 is presented below. (Editor's Note: After the table was compiled, Munich Re disclosed its ...
Florida CFO Urges Outright Ban on AOB Agreements
In the wake of Hurricane Ian, Florida's chief financial officer has taken a hard line on insurance claims litigation, calling for an outright ban on assignments-of-benefits agreements. At a press ...
Allstate Sees Q3 Net Loss; Auto Reserve Boosts More Damaging Than Ian
Allstate expects to report a bottom-line third quarter net loss in the range of $675-$725 million and a combined ratio of 111.6, including 7.8 points from reestimates of prior year auto loss ...
Navigating Flood Insurance Challenges in a Rapidly Changing Environment
Flood insurance may be a canary in the coal mine when it comes to the lasting impacts of climate change. Aon Edge CEO John Dickson recently talked with Elizabeth Blosfield, deputy editor for Carrier ...
Business Leaders Overconfident About Cyber Threats: Beazley
Cyber remains a top concern, but business leaders may be overconfident about their resilience against the threat, according to new research from Beazley. Cyber was chosen as the No. 1 technology risk ...
Federal Judge Dismisses Multiple Pennsylvania COVID-19 Claims
A Western Pennsylvania federal district judge has dismissed eight cases seeking payment for COVID-19 business interruption coverage from several insurers including Cincinnati Insurance, Travelers ...
Florida Building Codes Made a Big Difference for Newer Homes in Ian, Reports Show
In the hardest-hit parts of southwest Florida, many newer structures survived remarkably intact despite Hurricane Ian's winds, suggesting that updated Florida building codes are making a difference ...
Swiss Re Expects Hurricane Ian Claims to Bring Q3 Loss
Swiss Re forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately $1.3 billion. "While the ...