Property
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FM Global offers policyholders $600m in premium credits
FM Global will issue $600m in membership credits to eligible policyholders that renew next year. As first reported in our…
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German insurers have paid €1.5bn of Bernd claims, says GDV
German insurers have paid out €1.5bn of claims from the devastating floods that hit the country in July, with €400,000…
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Reinsurers underestimate nat cat risk by up to 50%, warns S&P
Reinsurers could be underestimating their exposure to natural catastrophes by as much as 50% because of climate change, warns S&P…
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RMS says Hurricane Nicholas losses will range between $1.1bn and $2.2bn
RMS estimates that US insured losses from Hurricane Nicholas will be between $1.1bn and $2.2bn. The figures includes wind, storm…
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Hurricane Ida pushes The Hanover over Q3 cat budget
Hurricane Ida losses have pushed The Hanover Insurance Group beyond its catastrophe allowance for the third quarter. The US group…
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First-half earnings for US P&C insurers show material improvement, says Fitch
US property and casualty (P&C) insurers saw their statutory earnings materially improve in the first half of 2021, according to…
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Brit uses new algorithm to speed up Hurricane Ida claims
Brit is using a new machine learning algorithm to speed up claims following Hurricane Ida last month. The Brit claims…
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Hurricane Nicholas insured losses about $950m: Karen Clark
Insured losses from Hurricane Nicholas will be close to $950m, according to modelling firm Karen Clark & Co (KCC). As…
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Insurance linked securities market looks set for another record year, says Fitch
The insurance linked securities (ILS) sector is seen as strong and viable according to Fitch Ratings, despite alternative reinsurance capital…
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Policyholder firm Fenchurch Law appoints new associate as disputes rise
Fenchurch Law, which works exclusively for policyholders and brokers, has appointed Anthony McGeough as associate from Edwin Coe, in response…
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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…