Industry News
Global Natural Disasters Cost Insurers $43B in H1, Surpassing 10-Yr Average: Munich Re
Natural disasters during the first half of 2023 cost insurers an estimated $43 billion with an overall economic price tag of $110 billion, according to Munich Re. These insured losses were slightly ...
Tech Bytes: New Partnerships at ZestyAI, Ascend
ZestyAI, a provider of climate and property risk analytics solutions powered by artificial intelligence, announced an agreement with Coterie Insurance, a partnership-focused managing general agent, ...
Fitch: Financial Performance Influenced by P&C Company Ownership Structures
Balance sheet risks and financial performance vary depending upon property and casualty insurers' ownership structure, according to a special report by Fitch Ratings. Material differences in ...
Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh
Global commercial insurance pricing rose 3 percent in the second quarter of 2023, down from 4 percent in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber ...
New Ethical AI Consortium Launched
Three digital technology providers announced the launch of the Ethical AI in Insurance Consortium as a means to help guide the insurance industry toward a responsible and ethical future using AI. ...
Catastrophe Losses Cause CNA Financial to Miss Q2 Profit Estimates
Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty segment partially offset higher investment income. Profits at insurers ...
Hard Market Game Refuses to End: Arch Capital CEO
Drawing analogies to an epic tennis match and the hands of a clock, the leader of Bermuda-based Arch Capital declared the current hard market one of the longest the P/C industry has ever experienced. ...
Guy Carp Analysis: Cyber Cat Model Results Diverge
Significant progress has been made in advancing vendor's cyber catastrophe models, but a notable degree of variability exists across model outputs, which can pose a challenge to insurance and ...