Markets
UK Judges Rule Carriers Were Wrong to Reject COVID Business Interruption Claims
London judges have ruled that some of the world's biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain's Financial Conduct ...
Casualty Re ‘Rational’ Despite Likely COVID Whiplash on Social Inflation
A COVID-driven deflation in lawsuit trends is giving reinsurance brokers ammunition to achieve better outcomes for their clients in a hardening casualty reinsurance market, according to an Aon ...
Hardening Re Market Doesn’t Look Like Mid-1980s or 2005
Reinsurance price hikes and capacity changes are not reminiscent of prior hard markets, participants said in quasi-Rendez-Vous meetings, with some going as far to say that current price changes are ...
Casualty Reinsurance Demand Rises in North America Despite Hardening Primary Rates: Willis Re
Although there is a significant market correction taking place in the North American liability insurance market, demand for casualty reinsurance is increasing, said Chirag Shah, executive vice ...
COVID-19 Narrows VC Window to InsurTechs That Meet Urgent Industry Needs: Deloitte
InsurTech venture financing held its own in the first half of 2020, essentially matching robust levels reached over the same period last year despite economic shocks created by the coronavirus ...
Second Hurricane in a Month Heads Toward U.S. Gulf Coast
Tropical Storm Sally strengthened off the west coast of Florida on Sunday and was poised to become a category 2 hurricane, bringing the threat of dangerous storm surges and high winds to the U.S. ...
Munich Re Pauses Selling Pandemic Business Coverage After Big H1 Losses
Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half. ...
Underwriting Discipline Will Rule With January 1 Reinsurance Renewals
Economic uncertainty and volatility, in combination with COVID-19-related losses, is leading to a heightened level of cautiousness among property reinsurers unless pricing and terms and conditions ...