North America
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April 19, 2024
Marsh McLennan reports 9% revenue growth for Q1
Marsh McLennan reported $6.47bin in revenue for the first quarter of 2024, a 9.3% increase from the same period last…
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April 19, 2024
Convex books first annual profit since 2019 launch
Bermuda-based international insurer and reinsurer Convex entered the black for the first time since it launched in 2019, with net…
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April 18, 2024
Claims likely to increase as vessels remain stranded in Baltimore
The collapse of the Francis Scott Key Bridge in Baltimore in March and the ensuing build-up of vessels continues to…
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April 18, 2024
Climate change to cause ‘massive economic damage’
Climate change will cost the global economy $38trn every year by 2049 and cause “massive economic damage” some six times…
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April 18, 2024
Travelers sees rate hikes continue; Q1 profit up 15%
Travelers said commercial insurance rates continued to rise in most lines during the first quarter as it reported growth in…
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April 18, 2024
US D&O rates stabilise, retention rates fall: Report
Both directors’ and officers’ liability rates and retentions decreased in 2023 for US buyers tracked by BRP Group in its…
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April 17, 2024
Q1 2024 records $20bn in nat cat losses: Gallagher Re
Insured losses from global natural catastrophes totalled $20bn in Q1 2024, according to estimates from Gallagher Re, almost 40% lower…
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April 17, 2024
Litigation likely to flow from US ‘forever chemicals’ regulation
The US Environmental Protection Agency’s (EPA) recent establishment of safe levels of so-called forever chemicals in drinking water will likely…
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April 17, 2024
BHSI expands global marine capabilities in US
Berkshire Hathaway Specialty Insurance (BHSI) is expanding its global marine capabilities in the US with the launch of ocean marine…
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April 16, 2024
SEC climate-related disclosure rules on hold
Once again, it seems, an ESG-related piece of legislation or regulation takes one step forward and two steps back. In…
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April 16, 2024
Specialty credit insurer Convergence set for launch
Plans for a new credit insurer, Convergence, that will initially target clients in Europe and North America have been unveiled…
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April 16, 2024
US rate increases accelerate a touch in Q1, says Ivans
US commercial insurance rate increases accelerated across most major lines of coverage during the first quarter, according to a report…
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April 15, 2024
HDI Global turns focus on mid-market with dedicated and international offering
HDI Global is expanding its focus on mid-market clients with turnover between €20m and €500m by offering them improved domestic…
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April 15, 2024
Fire safety manufacturer pays $750m to settle PFAS class action
Irish-headquartered US smart building firm Johnson Controls International's subsidiary Tyco will pay $750m to settle a class action alleging its…
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April 15, 2024
US cyber rate rises fall again but CyberCube warns of public sector attacks in election year
Public sector bodies and government agencies are at an increased risk of cyberattack this year, with electoral infrastructure particular under…
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April 15, 2024
First-ever cat bond issued for sustained cloud outage losses
New York-based MGA and Lloyd’s coverholder Parametrix and Hannover Re have launched and issued Cumulus Re, the first-ever catastrophe bond…
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April 15, 2024
New parametric flood product for US business interruption
A new sensor-enabled parametric flood insurance product to support business interruption coverage in the US has been launched by insurtech…
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April 15, 2024
Negative outlook for US general liability sector, says Best
Worsening social inflation, medical expenses and litigation financing, which are leading to rising claims losses and legal costs, together with…
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April 12, 2024
Marsh calls on insurers to resist urge to automatically exclude tough cyber risks
The insurance market must resist the urge to automatically exclude difficult cyber risks and overly focus on a small set…
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April 12, 2024
NFP sues Alliant over real estate group ‘raid’
A unit of US broker NFP Corp has sued rival Alliant Insurance Services for allegedly poaching 19 employees, including real…