Claims & Reserving
Floods Drive Economic Losses in 2021, but Only 25% of Risks Are Insured: Swiss Re
More than 50 severe flood events around the world caused combined economic losses of $82 billion in 2021, while insured losses stood at slightly more than $20 billion—more evidence of a large ...
J&J’s Victory Over Cancer Victims Clears Path for 3M, Others
A court ruling allowing Johnson & Johnson to use a controversial bankruptcy strategy to force cancer victims into potential settlement talks has raised the odds that other companies facing costly ...
Russia’s Seizure of Foreign Jets Triggers Wave of Insurance Claims From Leasing Firms
Russia's move to transfer almost 800 foreign-owned jets to its own aircraft register amid foreign sanctions has triggered a wave of insurance claims from leasing firms whose fleets have effectively ...
Tussle Over Connected Car Data Shifts Into High Gear; EU Mulling Regs
Where you go. What you pass. Where you stop. What you listen to. What you watch. Your good habits. Your bad habits. Companies in Europe and beyond are vying for control of the crown jewels of the ...
Commercial Litigation Funding and Social Inflation: A Non-Sequitur
Voices in the insurance industry have recently called for the regulation of commercial litigation funding on the ground that it is "a key driver of social inflation." Such calls to action lack ...
Insured Losses From February’s Windstorms in Europe Could Reach $5B: RMS
Insured losses from February's windstorms Dudley and Eunice will likely fall between $3.4 and $5.1 billion (3.0 and 4.5 billion euro), with Germany accounting for around 40 percent of the total loss, ...
Cargo Ship Carrying Luxury Cars Sinks Off Portugal’s Azores
A burnt-out cargo ship carrying thousands of luxury cars, including Porsches and Bentleys, sank on Tuesday off the Portuguese Azores archipelago nearly two weeks after it caught fire, a port official ...
Actuaries: Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to ...