Industry News
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re
Hard market conditions in the global non-life insurance sector will continue this year but will begin to ease in 2025, as general inflation and claims inflation conditions soften, according to Swiss ...
Condo Insurance Premium Hike Hot Button Issue in Some Legislative Races
Jillian Anderson planned to make fighting crime in Waikiki the top issue in her campaign for a seat in the Hawaii House of Representatives. Then came the letter from her condo association announcing ...
Fleming Files Lawsuit Against James River, Alleging Fraud During JRG Re Acquisition
Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300 million acquisition of JRG Reinsurance Co. Once the deal ...
Tech Bytes: New Partnerships at Counterpart, Send, FRISS
Counterpart, an AI-driven management and professional liability InsurTech, has announced a new partnership with Westfield Specialty Insurance, to provide an admitted product for Counterpart's small ...
Parametric Insurance Increasingly Aids Farmers, Others Dealing With Extreme Weather
Joemar Flores, a spindly 28-year-old, gestured across his family's farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance. They're still ...
‘We’re All Going to See the Impact’ – Beryl Could Worsen Texas Insurance Crisis
Insurance agent Ian Hartgrove was one of many Houston residents caught off guard by the size of Hurricane Beryl, which made landfall on the Texas Gulf Coast early last week. Beryl had weakened to a ...
What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns.
Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. ...
Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season
Insurers' losses from Hurricane Beryl will be "low and readily absorbed," and the storm is not expected to change pricing conditions in the P/C and reinsurance sectors, Moody's Ratings said. Beryl ...