North America
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September 6, 2023
Ransomware surges on supply chain attacks
Ransomware attacks surged in the second quarter on the back of supply chain and extortion attacks. Following a reduction in…
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September 6, 2023
Reaction and planning key as cyber threat continues to rise
Speed of reaction is the most important element when dealing with a cyber threat, according to global IT security firm…
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September 6, 2023
More lawsuits likely in no-harm data breaches
Businesses can expect more court rulings allowing plaintiffs to pursue damages for data breaches, even where there is no evidence…
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September 5, 2023
Moody’s RMS says Idalia losses up to $5bn
Moody’s RMS has placed private insured losses from Hurricane Idalia between $3bn and $5bn, with a best estimate of $3.5bn.…
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September 4, 2023
Reinsurance buyers expect prices to continue to rise
Reinsurance prices are expected to continue to rise across all lines in 2024, reflecting ongoing claims inflation, particularly in property…
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September 4, 2023
KCC pegs Idalia losses at around $2.2bn
Karen Clark & Co (KCC) estimates that privately insured losses from Hurricane Idalia will be close to $2.2bn, mostly from…
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September 4, 2023
Markel discloses Vesttoo exposure
Markel said letters of credit (LOC) it held backing more than $125m in collateralised reinsurance deals involving troubled reinsurance intermediary…
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September 1, 2023
Strong growth forecast for global commercial property insurance market
The global commercial property insurance market is forecast to reach $724bn by 2032, a compound annual growth rate (CAGR) of…
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September 1, 2023
Gallagher Re places Idalia loss up to mid-single digit billion-dollars
Hurricane Idalia is expected to result in a low- to mid-single-digit billion-dollar loss for insurers, according to Gallagher Re. Initial…
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August 31, 2023
AXA XL appoints Pilko as CEO for Americas
AXA XL has appointed Lucy Pilko as CEO of insurance in the Americas to take over from Joseph Tocco. Tocco…
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August 30, 2023
Idalia forecast to hit Florida as Category 4 hurricane
Florida’s Gulf Coast is braced for the first major hurricane of the season, with Hurricane Idalia expected to make landfall…
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August 30, 2023
Time and effort needed to secure cyber insurance rising in US
The time and effort for US organisations to obtain cyber insurance is increasing significantly, with a number of companies requiring…
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August 30, 2023
Firms lack proper ESG controls, raising compliance risks
Two-thirds of organisations lack proper ESG controls and 60% do not perform internal ESG audits, according to a survey of…
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August 30, 2023
Cat bond market buoyant as demand and investment returns rise
Demand for alternative capacity, sharply higher reinsurance rates and robust returns for capital providers helped drive first-half 2023 new issuance…
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August 29, 2023
Markel appoints head of terrorism for North America
Andrew Umphress has been appointed as the head of terrorism for North America at Markel. The insurer said the appointment…
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August 29, 2023
US appeals court rules for ex-Marsh McLennan worker in cyber case
Marsh & McLennan must face a class-action lawsuit in which a former employee sought damages after her private information was…
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August 29, 2023
Privately insured US Hilary losses estimated at $600m
Karen Clark & Co (KCC) said privately insured losses from Hurricane Hilary will be close to $600m in the US.…
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August 23, 2023
Hawaii wildfire insured losses could top $4.5bn: Moody’s
Moody’s RMS said insured losses from the wildfires on 8-10 August in Hawaii could exceed $4.5bn. The loss estimate reflects…
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August 23, 2023
Cyber market regains appetite as rates fall and coverage tightens: RPS
Cyber buyers are facing “striking” differences in rates and capacity so far in 2023, according to Risk Placement Services (RPS),…
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August 23, 2023
World Insurance raises $1bn from Goldman Sachs
Funds managed by Goldman Sachs Asset Management will invest more than $1bn in debt and equity in World Insurance Associates,…