Industry News
What to Expect in Commercial Lines: Stability+ ‘Micro-Actions’
WTW characterized commercial insurance rates as balanced and stable in a report last week. But as Hurricane Milton approached, the broker warned of upcoming disruption. "The current state of affairs ...
Grandisson Retires; Papadopoulo Is Now Arch Capital CEO
Nicolas Papadopoulo has been named chief executive officer of Arch Capital Group Ltd., succeeding Marc Grandisson, who has decided to retire from the company, Arch announced. Papadopoulo, who has ...
Moody’s: Insured Losses for Helene and Milton $35B-Plus But Estimates Cloudy
Total U.S. private market insured losses from the Hurricanes Helene and Milton will likely range between $35 billion and $55 billion, according to Moody's RMS Event Response, which said the ...
Homeowners Insurers Argue for a 42% Average Rate Hike in North Carolina
With many western North Carolina residents still lacking power and running water from Hurricane Helene, a hearing began last Monday on the insurance industry's request to raise homeowner premium ...
Catastrophe Bonds Dodge Worst-Case Scenario After Milton
After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those predicted as recently as the Wednesday before landfall. Estimates that ...
Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-year Update, ...
Repeat of 1/1/2023 Reinsurance Hikes Unlikely As Reinsurers Take Milton Hit
Reinsurers will have some meaningful losses from Hurricane Milton but a replay of the shocking price hikes cedents experienced during Jan. 1, 2023 renewals isn't likely to repeat for 2025, Fitch ...
Geopolitical Conflict Could Cost Global Economy $14.5 Trillion Over 5 Years: Lloyd’s
The global economy could be exposed to losses of $14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns ...