North America
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RMS says Hurricane Nicholas losses will range between $1.1bn and $2.2bn
RMS estimates that US insured losses from Hurricane Nicholas will be between $1.1bn and $2.2bn. The figures includes wind, storm…
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US D&O increases moderating but SPAC IPOs causing concern
Most US companies continue to experience increases in total cost and retention on their D&O programmes in 2021, but the…
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Hurricane Ida pushes The Hanover over Q3 cat budget
Hurricane Ida losses have pushed The Hanover Insurance Group beyond its catastrophe allowance for the third quarter. The US group…
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MGA Volante to launch Lloyd’s syndicate in next stage of growth
MGA Volante Capital Holdings has received in-principle approval for a new Lloyd’s syndicate to open for the 2022 year of…
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US federal judge refuses to dismiss restaurant chain’s BI Covid-19 suit
A federal US judge who had already ruled in favour of plaintiffs in at least two Covid-19 business interruption lawsuits…
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EU targets energy and agriculture to cut methane emissions in new pledge with US
European risk managers at companies within sectors that emit significant levels of methane, from oil and gas to agriculture, face…
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Record number of containerships queue at California ports as supply chain disruption deepens
A record number of containerships are waiting to enter California’s Los Angeles and Long Beach ports, which have implemented new…
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First-half earnings for US P&C insurers show material improvement, says Fitch
US property and casualty (P&C) insurers saw their statutory earnings materially improve in the first half of 2021, according to…
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RIMS makes Covid-19 vaccination compulsory for all future events
US risk management society RIMS will require anyone attending one of its in-person events to show that they are fully…
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WTW sues Marsh over poaching 25 employees
Willis Towers Watson (WTW) has filed suit against Marsh in state court in Chicago over the poaching of 25 employees.…
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Brit uses new algorithm to speed up Hurricane Ida claims
Brit is using a new machine learning algorithm to speed up claims following Hurricane Ida last month. The Brit claims…
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Hiscox doesn’t have to cover legal fees in dismissed US whistleblower case
A company that faced significant legal fees stemming from a whistleblower lawsuit that was ultimately dismissed does not have coverage…
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Hurricane Nicholas insured losses about $950m: Karen Clark
Insured losses from Hurricane Nicholas will be close to $950m, according to modelling firm Karen Clark & Co (KCC). As…
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Aon granted partial injunction in US trade secrets suit
A federal district court in Chicago has agreed to grant Aon a partial injunction in litigation it filed last year…
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Global carbon emitting firms failing to disclose climate risks
More than 70% of over 100 of the world’s biggest carbon intensive firms failed to fully disclose climate risk in…
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US surplus lines market thrives in difficult market conditions
The US surplus lines market has seen the largest year-on-year premium increase for 17 years, according to AM Best. The…
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RMS ups Ida loss to $31bn-$44bn on back of inland flooding
RMS has increased its onshore and offshore insured loss estimate for Hurricane Ida to $31bn-$44bn, after adding $6bn-$9bn of claims…
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MGA confidence returning, finds Clyde & Co survey
Confidence is recovering fast in the MGA market despite the pandemic, according to Clyde & Co’s latest survey of the…
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Cyber rates set to rise further and coverage restrictions increase
Cyber insurers are likely to continue reducing exposures and raising rates in response to ransomware losses, according to Fitch Ratings.…
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Resilience Cyber hires Bryant from Chubb to lead international expansion
Resilience Cyber Insurance Solutions, a US-based programme manager, has announced that former Chubb executive Kyle Bryant is joining as international…