Reinsurance
$2 Trillion Won’t Be Enough for the Next Black Swan Event
There aren't many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses ...
Negative Outlook Continues for U.S. Commercial Lines: A.M. Best
U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised ...
As Rates Keep Hardening, Global Reinsurance Sector Receives ‘Stable’ Market Outlook
The outlook of the global reinsurance sector is "stable," which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two ...
Munich Re Will No Longer Cover Events Axed Due to Pandemics
German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world's largest resinsurer is making the change after it faced ...
Down to the Wire: Last-Ditch Effort to Secure a Brexit Deal
British and EU leaders will meet face-to-face to try to seal a post-Brexit trade deal after failing again to narrow their differences on Monday, increasing the chance of a disorderly parting of ways ...
Bankrupt N.Y. Retailer Sells $175M COVID Claim Insurers Won’t Pay
There's an unusual asset up for grabs in Century 21 Stores' going-out-of-business sale: a stake in its long-shot legal fight against insurers. The New York department store company, which filed for ...
Lloyd’s Approves New Insurance Group Inigo to Start Underwriting in January
Inigo Ltd., the new London insurance group that has raised $800m in start-up capital from a group of blue chip global investors, announced that it has received approval in principle from the ...
More Emerging Risks for 2021: Insurance Costs for Violence Unclear
When I wrote about emerging issues facing the property/casualty insurance industry for Carrier Management early in 2020 I stated, "Insurers and reinsurers face numerous emerging issues arising from: ...