Aon

Despite shrinkage of the overall pool, new capital providers have entered the market in recent months, the ratings agency said.

The reinsurance broker said cyber incidents so far in 2019 already exceed the full-year totals in 2015 and 2016.

Ariel Duris said heavy regulation means the industry submits fewer claims than other sectors.

A report from the broker said insurers’ tolerance of mediocre results has hit an ‘inevitable bottom’.

Insurers have paid out $300mn for Hurricane Barry so far, according to the broker.

Intermediaries appear caught between the competing pressures of results that speak to an improving market (good for their stocks) and a concern to manage market expectations to the benefit of clients.

The lawsuit comes after a probe by the NLRB was dismissed, and the EEOC had not yet reached a conclusion on the claims.

The firm’s executives echo fellow brokers in questioning suggestions of significant market firming.

The new hire joins after a 16-year legal career as the broker continues intangible asset push.

The promotion splits leadership of the business with current president and CEO deMenocal.

Total economic losses are not expected to surpass $1.5bn, the broker outlined in its latest monthly catastrophe update.

Capital has rebounded by 3 percent to $605bn in the first quarter of 2019.