Property
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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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Rising concern in France over nat cat risk amid climate change
Nine out of ten people in France are worried about weather-related events, and believe nat cat risks are getting worse…
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Buyers urge insurers to up game as trust erodes in hard market
Although the commercial insurance market needed a correction, little recognition of risk management efforts or differentiation between long-term buying partners…
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Mexico earthquake insured losses estimated at $200m
Catastrophe modelling firm Karen Clark & Company (KCC) estimates that insured losses for the earthquake that hit Mexico near Acapulco…
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Price rises for US commercial cover continued to ease in Q2: Willis
US commercial insurance price increases continued to ease in the second quarter of 2021 to an average of 6%, though…
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AIR ups Ida estimate to $20bn-$30bn on back of inland flood losses
AIR Worldwide has increased its insured loss estimate for Hurricane Ida to between $20bn and $30bn after adding the impacts…
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Hannover Re expects further hardening at renewals next year
Insurance and reinsurance buyers of natural catastrophe, German industrial and cyber cover are all expected to see further price increases…
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SiriusPoint provides underwriting capacity for startup insurer Vouch
Specialty (re)insurer SiriusPoint has partnered with Vouch Insurance, a new insurance platform for startups, to provide multi-year underwriting capacity to…
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Sasria asks South African government for aid
Sasria, South Africa’s main insurer for strikes, riots, terrorism and civil commotion, has asked the government for a financial bailout…
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Bermuda (re)insurers paid $25.7bn to UK policyholders since 2016
Bermudan (re)insurers paid out $25.7bn to UK P&C policyholders between 2016 and 2020, with numbers rising each year, according to…
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SiriusPoint increases European July flood estimate
Global specialty (re)insurer SiriusPoint has increased its loss estimate for European floods in July from $30m to between $70m and…
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German Chamber of Commerce joins call for risk-based approach to flood risk
The German Chamber of Industry and Commerce (DIHK) has called on regional and national authorities to show flexibility and agility…
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Lloyd’s rebounds to £1.43bn profit after underwriting ‘turnaround’
Lloyd’s has reported profit of £1.43bn for the first half of this year from a loss of £438m, after underwriting…
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Hurricane Ida’s northeast insured losses could reach $8bn, says CoreLogic
Commercial insured flood and wind losses in the US northeast from Hurricane Ida are estimated at between $3bn and $5bn,…
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Reinsurance renewals to focus on nat cat and systemic risks, says Aon
Upcoming reinsurance renewal discussions are set to focus on natural catastrophes and systemic risks, according to Aon. At a pre-renewal…
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Reinsurance sector outlook improves, says Moody’s and Fitch
Moody’s Investors Service has changed its outlook for the global reinsurance sector to stable from negative as a result of…
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Risk management and modelling vital to secure nat cat insurability
Risk management, catastrophe modelling and government support will be key to keeping natural catastrophe perils insurable in a changing climate,…
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P&C insurance riskier and more complex in next 20 years, says Swiss Re
Property and casualty (P&C) business is set to become riskier and more complex in the next 20 years, according to…
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RMS estimates insured losses of up to $35bn from Hurricane Ida
RMS estimates that insured onshore and offshore losses in the Gulf of Mexico from Hurricane Ida will be between $25bn…
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AIR says Hurricane Ida wind and storm losses up to $25bn
AIR Worldwide estimates that insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range between…