Market hardening intensifies across Europe and all global regions, finds Marsh

Market hardening intensifies across Europe and all global regions, finds Marsh

Market hardening intensifies across Europe and all global regions, finds Marsh

The commercial insurance market hardening accelerated across all regions in the final quarter of last year with average price increases of 6.6% in continental Europe and 13.7% in the UK, according to Marsh’s latest Global Insurance Market Index that also reports a tightening of capacity in certain product lines and parts of the world. As previously revealed during Marsh’s results…

French risk managers warned to prepare for further hardening and start renewals early

French risk managers warned to prepare for further hardening and start renewals early

French risk managers warned to prepare for further hardening and start renewals early

French risk managers need to prepare their coming renewals well in advance and be ready to share more information with insurers than perhaps they have in the past because the insurance market will toughen further as the year progresses, advised François-Xavier d’Huart, country manager for France at Berkshire Hathaway Specialty Insurance (BHSI). As AMRAE gathered for its annual conference this week, Mr…

Greenberg says simple maths means market hardening will continue as Chubb delivers strong results

Greenberg says simple maths means market hardening will continue as Chubb delivers strong results

Greenberg says simple maths means market hardening will continue as Chubb delivers strong results

Chubb’s Evan Greenberg believes that simple maths means the insurance market will continue to harden for some time, as the insurer saw average rates increases of 10% for international retail business and 8.5% in North America during Q4, which helped the company deliver an impressive set of results. Mr Greenberg said rates increased at an “accelerated pace” in each quarter…

All eyes on 1 April renewals following year-end hardening

All eyes on 1 April renewals following year-end hardening

All eyes on 1 April renewals following year-end hardening

Year-end insurance renewals were challenging for many European buyers as the market hardening accelerated in the last few weeks of 2019, according to brokers and leading risk managers. Tough conditions are expected to continue through 2020, but there is hope that things will begin to settle down and the rate of change will slow. Latest figures from Marsh show that…

Global insurance market hardening accelerated in Q4 with average rate increases of 11%: Marsh

Global insurance market hardening accelerated in Q4 with average rate increases of 11%: Marsh

Global insurance market hardening accelerated in Q4 with average rate increases of 11%: Marsh

Global P&C insurance market hardening accelerated in the last quarter of 2019 with average price increases of nearly 11%, compared to 8% in Q3, 6% in Q2 and 3% in Q1, according to Marsh that saw revenues increase 4% in 2019. Giving the latest top-level figures from Marsh’s quarterly Global Insurance Market Index during a results presentation, Marsh & McLennan’s…

French directors should brace for tough market at next renewal

French directors should brace for tough market at next renewal

French directors should brace for tough market at next renewal

French companies should prepare for significant changes in the cost and availability of D&O insurance at their next renewal as insurers react to rising claims and a decade of premium reductions, according to brokers and insurers. Aside from those with a US listing or claim in 2019, French firms have largely avoided the large increases in D&O premiums and deductibles…

Insurance market for digital assets and blockchain set to grow

Insurance market for digital assets and blockchain set to grow

Insurance market for digital assets and blockchain set to grow

Increased use of digital assets and better regulation are set to boost growth in the cryptocurrency insurance market, according to Marsh. Demand for insurance to cover digital assets and crypto-related liabilities has been growing, according to the broker. In particular, cryptocurrency firms – which include cryptocurrency miners, exchanges, wallet, vault, payment services and blockchain technology providers – are seeking directors…

Buyers face further disruption in D&O market

Buyers face further disruption in D&O market

Buyers face further disruption in D&O market

Buyers should prepare for further disruption in the D&O insurance market in 2020, including higher rates and restricted cover, as elevated levels of US securities class action litigation look set to continue for the foreseeable future, according to Kevin La Croix, executive VP at specialty broker RT ProExec and author of the influential D&O Diary blog. Companies with US listings…

Neon to enter Lloyd’s run-off in 2020

Neon to enter Lloyd’s run-off in 2020

Neon to enter Lloyd’s run-off in 2020

Lloyd’s managing agency Neon Underwriting is being placed into run-off by its US owner American Financial Group (AFG). AFG said Neon has “failed to achieve” profitability objectives since it acquired the business as Marketform in 2008. In particular, AFG said Neon’s results prospects for 2019 and 2020 fall below its expectations. Marketform relaunched as Neon in 2016 with a book…

European D&Os face ‘perfect storm’ as risks grow and insurance tightens, warns Clyde & Co

European D&Os face ‘perfect storm’ as risks grow and insurance tightens, warns Clyde & Co

European D&Os face ‘perfect storm’ as risks grow and insurance tightens, warns Clyde & Co

European D&O insurance buyers face further rate hardening in 2020 and could find a squeeze on available capacity as established players either exit the market or impose limits, according to Clyde & Co. Henning Schaloske, partner at the law firm, said insurers are expected to restrict limits in 2020. But although this could make it more difficult for buyers of…

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