Industry News
Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots
Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential ...
Costs of Small Business Cyber Attacks Are Down But Frequency Is Up, Says Hiscox
The less-than-encouraging news: Only 33 percent of U.S. small businesses consider cyber risk high or very high.
The somewhat encouraging ...
U.S. Commercial Lines Survey Shows Aggregate Q3 Increase of 6.1%
Commercial insurance prices for the U.S. increased 6.1 percent in the third quarter, maintaining an upward trend. According to the latest results from WTW's Commercial Lines Insurance Pricing Survey ...
Africa Specialty Risks Gets ‘In Principle’ Approval to Launch Syndicate in 2024
Africa Specialty Risks (ASR), a pan-African focused insurance and reinsurance group, has received "in-principle" approval to launch a Lloyd's syndicate in 2024. The syndicate will be launched in ...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its "stable" ...
Hailstorm Claims Risk Undermining Solar Energy, Insurer Says
Solar farms around the world are under threat due to costly hailstorm-related claims, according to renewable energy underwriter GCube Insurance. Hail was the costliest category for insurance claims ...
U.S. P/C Carriers Post $32B Underwriting Loss for First Nine Months: AM Best
The U.S. property/casualty industry recorded a $32.2 billion net underwriting loss in the first nine months of 2023, $7.6 billion worse than the underwriting loss posted in the same prior-year ...
Humanity on Verge of 5 Climate Tipping Points, Report Warns
Five major global "tipping points" are in danger of being crossed at current levels of warming, a new study warns, leaving humanity at an inflection point between two potential futures. An ...