Risk Specialty
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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…
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Insufficient capital in cyber insurance market, says Gallagher Re
Despite a recent increase in capacity in the cyber (re)insurance market, capital remains insufficient, according to a white paper from…
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EU Parliament adopts directive to stop environmental and human abuse
The European Parliament has adopted its position for negotiations with member states on rules to integrate human rights and environmental…
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Berkley forms new excess specialty business
W.R. Berkley has formed Berkley Specialty Excess to offer excess liability coverages in specialised markets, with an initial focus on…
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Portuguese risk managers question value of cyber cover
The hard cyber insurance market has become such a big issue that companies must ask themselves whether it is really…
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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…
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Strong growth from P&I Clubs in 2022/23
P&I Clubs have reported strong growth, with the UK P&I Club seeing gross written premium exceed $500m for the first…
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Alta Signa names AIG’s Huidekoper D&O and FI manager in Benelux
MGA Alta Signa Europe has appointed Sytse Huidekoper from AIG as D&O and financial institutions manager in Benelux as it…
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Mactavish index shows UK claims litigation hitting High Court up 14% last year
New data from Mactavish finds that the number of commercial claims disputes going to the UK High Court rose 14%…
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Shipping losses hit all-time low in 2022, says AGCS
Shipping total losses hit a record low in 2022, down by more than a third to 38 from 59 the…
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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…
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Head of cyber insurance appointed at Inigo
James Creasy has been appointed as the head of cyber insurance at Inigo Limited. The UK insurer said cyber insurance…
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Cyber insurers’ loss ratio improves in 2022: Morningstar
Based on preliminary data, cyber insurers will report a material improvement in loss ratios in 2022, says a report from…
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Companies face risk blind spot by overestimating cyber Armageddon, warns MGA
Cyber MGA Intangic says companies are overestimating the threat of “cyber Armageddon” from warfare and should instead focus on smaller,…
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Lloyd’s, QBE and Mapfre join exodus from NZIA
Lloyd’s, QBE and Mapfre have become the latest members of the UN-convened Net Zero Insurance Alliance (NZIA) to leave, with…
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UN backs NZIA collaboration but 11 members have now quit
The UN said “there is a fundamental and urgent need for collaboration” in the insurance and reinsurance industry to tackle…
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Increased climate-related claims activity in UK and Europe expected
The UK and Europe are expected to see increased activity in certain new types of climate-related claims, according to Lydia…
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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…
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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…
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European business calls for more proportionate view of supply chain liability
A host of European business groups, including BusinessEurope, have called on the EU to ensure that its coming Corporate Sustainability…