News
Insurance
The idea that challenges such as climate change can be tackled by simply increasing rates is a misconception—as is the market’s obsession with describing a hard market. Instead, the focus should be on the nature of coverage and helping clients better manage risk. 11 September 2022
Insurance
PERILS has announced the expansion of its market coverage to include exposure and event loss data for European floods. 11 September 2022
Insurance
The insurance industry is headed for a “true hard market” where demand for property cover may not be fully satisfied because of reduced capacity, Manuel Arrive, a director in Fitch Ratings’ insurance group said at a Reinsurance Briefing in Monte Carlo on September 10. 11 September 2022
Insurance
Laurent Rousseau, chief executive officer of SCOR, said “there are parallels to be drawn” between the state of the insurance industry in 2017 and the reinsurance industry today, in a speech at the Monte Carlo Rendez-Vous. 11 September 2022
Insurance
Reinsurance broker TigerRisk Partners has formed what it is calling a cat capacity SWAT team, dedicated to identifying new sources of property-catastrophe capacity, as a potential capacity crunch looms for cedants ahead of next year’s cat renewals, many of which are themselves seeking more coverage as property exposures soar. 11 September 2022
Insurance
A highly complex risk environment caused by influences within and outside of the sector, coupled with the evolving dynamics of a hardening market, are generating significant volatility within the reinsurance sector, yet there is much to inspire confidence among re/insurers. 11 September 2022
Insurance
The amount of data held by the largest insurers is comparable to that in the hands of internet giants such as Facebook and Amazon—yet the industry is unable to leverage it because such a high percentage is stored in an analogue format. Changing this should be the number one priority for any insurance CEO. 11 September 2022
Insurance
With rates hardening and capacity shrinking in some lines there seems to be a perfect storm brewing for the re/insurance industry. But this storm is not so perfect, according to Chris Bonard, chief executive officer, Bermuda, of Inver Re. 11 September 2022
Insurance
Insurtechs are booming and, as a result of the COVID-19 pandemic, these companies, and other agile firms in the industry such as managing general agents (MGA)s and third party administrators (TPAs), look set to play an ever more vital role in the future structure of the re/insurance industry. 11 September 2022
Insurance
Hugh O’Donnell, chief executive officer at Bermuda Brokers, told Intelligent Insurer of two main developments in Bermuda’s evolution as a “vibrant and diverse” marketplace. 11 September 2022
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