North America
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Hurricane Ian losses could exceed $40bn as storm heads to Carolinas: Fitch
Insured losses from hurricane Ian are estimated to range between $25bn and $40bn but the bill could escalate as the…
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Hurricane Ian losses will add fuel to reinsurance rate rises
Significant insured losses from Hurricane Ian will drive rates up ahead of key reinsurance renewals next month, according to analyst…
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Ascot launches new US miscellaneous professional liability unit
A new miscellaneous professional liability (MPL) unit has been launched by Ascot in the US. The new unit will provide…
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New assistant director of captive insurance in Vermont
Jim DeVoe-Talluto has been promoted to assistant director of captive insurance at the Vermont Department of Financial Regulation. DeVoe-Talluto replaces…
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US banks fined $2bn for failure to keep records
Wall Street banks are to pay penalties totalling more than $2bn for failing to maintain and preserve electronic communications. The…
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Cat capacity crunch in focus as hurricane Ian nears Florida coast
The ability of the global insurance and reinsurance industry to shoulder catastrophe risk is being called into serious question as…
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Hurricane Ian reconstruction costs estimated at $258bn for one million homes at risk: CoreLogic
Data and analytics company CoreLogic said its data analysis shows 1,044,412 homes along the Florida gulf coast with a reconstruction…
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US hospitality benefits captive launched by Hub International
Hub International has launched a benefits captive for hospitality employers in the US, and those with cross-border operations in Canada.…
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Cyber remains top spot in Travelers’ risk index
Cyber risk is once again the biggest concern for US businesses polled for Travelers’ latest annual risk index, with economic…
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Travelers and Google Cloud develop ‘cloud-based data ecosystem’ for commercial insurance
The Travelers Companies and Google Cloud are working together to improve the commercial insurance underwriting process in the US. The…
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Boeing pays $200m after being charged with misleading investors on 737 MAX safety
Aircraft firm Boeing and former CEO Dennis Muilenburg have been charged with misleading investors about the safety of its 737…
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Vermont becomes first US high court to rule in policyholders’ favour over C-19 BI
The Vermont Supreme Court has become became the first US state high court to rule in policyholders’ favour over Covid-19-related…
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Marsh’s US clients can now pay service fees with renewable energy certificates
Marsh clients in the US can now pay for the broker’s service fees with voluntary carbon offset credits and renewable…
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US commercial insurance market looking much better for buyers, says Lockton
From a buyer’s perspective, the US commercial insurance market is in the best shape it has been during the past…
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SiriusPoint partners with new MGA on workers compensation in US
Global specialty (re)insurer SiriusPoint has formed a strategic partnership with Insurate, a newly launched MGA specialising in workers compensation insurance.…
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Miller creates dedicated Canadian unit within delegated authority team
Miller has expanded its delegated authority team to form a dedicated Canadian unit. The broker has hired a team with…
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Majority of D&O policyholders see H1 price decreases, says Woodruff Sawyer
Pricing trends for US directors and officers (D&O) liability insurance “flipped” during the first half of this year, with most…
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Strategic Risk Solutions appoints president of SRS Managers in Canada
Brad Meindersma has joined Strategic Risk Solutions (SRS) as president of SRS Managers in Canada. “We are excited to have…
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Marine market premiums and profitability grew in 2021 but tougher times ahead, says IUMI
Global marine insurance premiums increased by 6.4% in 2021, with strong growth in Europe and Asia, but tougher times are…
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US businesses turning to E&S market as hard market continues, says AXA XL
More businesses in the US are turning to the excess and surplus (E&S) insurance market for their multiline insurance needs…
