Industry News
They’ll Be Back: RenRe CEO Predicts Cedent Demand for Re Limit Will Rise
Although insurance companies that may have wanted more reinsurance coverage going into the 1/1 renewals elected to close their wallets in the face of rising rates, they will ultimately seek that ...
Slide Will Assume 91,000 Policies and Premium in United P&C Runoff in Florida
One year after Slide Insurance made waves by taking over thousands of policies from a troubled Florida carrier, the young company has done it again. The Florida Office of Insurance Regulation on ...
Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points
Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, which is leading reinsurers to require higher ...
Coalition Launches Full-Stack Cyber Insurer
Coalition announced it has launched a full-stack cyber insurance carrier. Coalition Insurance Company (CIC), which the InsurTech calls the "the first full-stack, active cyber insurance carrier," ...
S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023
A hard market in short-tail lines — such as property and property catastrophe — across global geographies is likely to continue throughout 2023, after beginning the year with multi-decade-high ...
W.R. Berkley: Waiting for Discipline in Property; Overall Marketplace ‘Splintered’
There is no one answer to the overall insurance industry's place within its cyclical path. Each product line needs to be looked at individually, according to Robert Berkley, CEO of W.R. Berkley ...
AIG Fires Interim CFO Lyons
AIG late Monday terminated interim Chief Financial Officer Mark Lyons after he "violated his confidentiality/non-disclosure obligations," the company said. Lyons was just appointed interim CFO ...
WTW Launches Cyber Facility, Providing Excess Capacity Globally
A new excess layer cyber facility, called CyXS, was launched by WTW, providing excess layer cyber capacity for global clients. Key elements of the facility include: Capacity: Access to up to 50 ...