GRM News & Analysis
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US product recalls increased in first quarter, says Sedgwick
The number of product recalls in the US increased 14.2% during the first quarter of 2023, according to Sedgwick brand…
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Divided aviation insurance market with rate increases but new capacity
The aviation insurance market is “somewhat divided” according to Marsh Specialty, noting that rate increases due to the ongoing geopolitical…
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Insurers face fundamental change in business model
In economic terms, navigating an inflationary environment will be the biggest challenge in the coming years, and the insurance industry…
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Trade credit insurers more cautious as losses begin to rise: Marsh
The frequency and severity of global insolvencies have yet to reach their peak, with a significant economic slowdown expected in…
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The need for insight & intelligence on sustainability risks
ESG and sustainability considerations are becoming increasingly important for corporates, covering everything from greenhouse gas emissions, greenwashing, impact on biodiversity,…
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Strong market support for space insurance continues, says Gallagher
There is continued strong support for the space class in 2023, according to Gallagher, which notes that capacity has changed…
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Aviation market calm but tougher conditions expected in 2024
Aviation insurance rates are currently stable thanks to healthy market capacity but there is mounting pressure, and equilibrium this year…
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Cautious optimism for North American insurance buyers, says WTW
There are signs of cautious optimism in the North American insurance market and while the economic outlook for 2023 remains…
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Q1 commercial insurance price increases in the Americas dominated by property
Commercial insurance pricing in the Americas increased again in the first quarter of 2023, according to the Marsh Global Insurance Market…
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Green shoots in PVT market as carriers battle with Ukraine losses
The political violence and terrorism (PVT) market remains tough for buyers following the war in Ukraine, but it is not…
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Employee benefit captives can resolve diversity, equity and inclusion challenges
Using captives to address employee benefits can resolve organisational diversity, equity and inclusion (DE&I) challenges and improve healthcare governance, according…
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Marsh ESG Risk Rating tool to help Asian firms get preferential D&O T&Cs
Companies in Asia can now be considered for preferred D&O liability insurance policy terms and conditions based on the strength…
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Risk managers face challenge to define and measure ESG risk
Risk managers are increasingly involved in ESG risks but while awareness and competencies are growing, the biggest challenge now is…
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Major change in insurers’ underwriting approach as reinsurance market hardens
There has been a major change in insurers’ underwriting approach in 2023 compared to last year, as a result of…
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London Market looks to sustainable energy for growth
London Market insurers see sustainable energy as the class of business with the most potential for significant growth, while political…
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Tighter global construction insurance market expected throughout 2023
While the extent of challenges faced by construction insurance buyers will vary across global geographies, WTW expects the overall marketplace…
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Gallagher sees challenging US market for buyers continuing this year
US buyers continued to face a challenging insurance market during the first quarter of 2023, according to Gallagher. It said…
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London market construction rates plateauing but growing scrutiny of risk
This year is expected to see continued rate stabilisation in London market construction lines, with a general plateauing across the…
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Directors likely to face ‘swathe of litigation’ over ESG risks
Increasing ESG risks are likely to result in a spike of claims against directors and drive further increases in insurance…
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US class action spending up for eighth consecutive year to $3.5bn
Class action spending in the US has increased for eight consecutive years, and it is expected to be one of…