North America
-
Howden Tiger says property cat reinsurance market hardening at quickest pace since 1990s
The property-cat reinsurance market has seen continued rate hardening, with risk-adjusted rates up an average 33% at 1 June, the…
-
Cyber losses from 1-in-200-year event could reach $33.4bn, says Guy Carpenter
A one-in-200-year cyber loss could cost the insurance industry between $15.6bn and $33.4bn but would manageable for the market, according…
-
TSR maintains below-normal forecast for hurricane activity in 2023
Tropical Storm Risk is maintaining its below-normal pre-season forecast update for North Atlantic hurricane activity in 2023, with activity expected…
-
M&A appetite returning despite concern over regulatory risks
Appetite for M&A looks set to rebound this year despite fears over stricter regulations, with more firms likely to turn…
-
US broker M&A expected to rise after sluggish Q1
US insurance broker M&A is expected to remain robust this year, despite a slow first quarter amid macroeconomic challenges, according…
-
Climate activists accuse US insurers’ largest shareholders of inaction
Climate activists have accused the largest shareholders of certain US insurers of failing to hold the companies to account over…
-
Less trust in AI among digitally advanced countries, finds Swiss Re
Consumers in more digitally advanced countries have less trust in AI than those from less technologically advanced nations, finds a…
-
Near-normal North Atlantic hurricane season but uncertainty over predictions
Most forecasting groups and agencies are predicting near-normal activity for the 2023 North Atlantic hurricane season, which officially gets underway…
-
Ericsson named in record $279m whistleblower case
The record $279m whistleblower award handed out by the US Securities and Exchange Commission (SEC) was for a bribery case…
-
Scor secures $75m cat bond after lowering exposure
Scor has placed a trigger cat bond for $75m of cover against named storms in the US, earthquakes in the…
-
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…
-
US construction broker American Global expands into Canada
American Global, one of the largest privately held construction brokers in the US, has launched a Canadian operation. The new…
-
Sompo International opens first Canadian branch
Sompo International has opened its first Canadian branch, headed up by Rohan Dixon, who becomes president and chief executive officer,…
-
New technology and cyber product head at Hiscox USA
Specialist insurer Hiscox has promoted Christopher Hojnowski to vice president, technology and cyber product head. He will report to Doug…
-
Bankruptcy court rules SVB directors can tap into liability insurance
A federal bankruptcy court in New York ruled that directors and officers of SVB Financial Group, parent company of the…
-
Organisations refuse to pay ransoms in fresh wave of attacks: Resilience
The majority of organisations hit by ransomware attacks (80%) recovered data and systems without paying a ransom as attacks “skyrocketed”,…
-
Climate litigation grows into financial risk for major carbon emitters, finds Grantham study
Climate litigation shaves an average 1% from the value of listed US and European corporations, according to Grantham Research Institute,…
-
Storm risk mitigation efforts in focus as hurricane season begins
With the 2023 hurricane season looming, organisations in vulnerable areas should ensure they are prepared to recover quickly if a…
-
WTW launches intangible asset coverage
Willis Towers Watson (WTW) has launched Intangible Asset Protection, a coverage designed to protect businesses from intangible asset losses due…
-
Market improving for buyers but nat cat property tough: Aon
Average insurance price increases stood between 1% and 10% across all global regions in Q1 2023 as upward rating pressure…