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There’s nothing medical about SAM claims. -
Northeast Insurance said 55 claims were brought under the Child Victims Act.
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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Critics claim the dispute system denies consumers' key legal rights.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
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Though wildfire losses are up, total losses are the lowest since 2015.
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A US district judge ruled a delay could put human life and property at risk.
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The federal panel hasn’t finalized a timeline for formulating the new rules.
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Shared and layered accounts are seen as reaping the biggest benefits.
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Fronting doesn’t look any better when it’s broken down by segment.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Growth concerns were top of mind at this year’s conference.
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The governor has yet to sign a pending bill to create a public cat model.
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Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
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Moretti has relocated to California from London.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
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Insurers continue to compete on price, especially in the SME sector.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Sexual abuse and molestation exclusions are starting to hold in higher layers of hospital towers this year.
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Home buyers looking to close on a mortgage could find the private market an attractive alternative.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
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The NHC also warned that a hurricane watch could be required in Bermuda as early as Monday afternoon.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The tropical cyclone is expected to be named Imelda.
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Juries don’t significantly differentiate in cases involving severe injury.
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California’s insurance regulator has Fair Plan depopulation, cat models on his mind.
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Rates continue to be favorable for buyers across major lines of coverage.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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The risk also ranked as a top three concern for companies of all sizes.
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Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.
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The proposed changes aim to establish clear guidelines for intervenors.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.
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Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.
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Average incident costs for SMEs were up nearly 30%.
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The MGU is entering the often-difficult habitational GL space with an initial E&S offering.
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As data privacy litigation increases, insurers increasingly lean on exclusions.
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The measures also seek to encourage greater wildfire mitigation efforts.
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While the Fed is more concerned with jobs, other macroeconomic concerns trouble the industry.
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This follows the news that AmTrust will spin off some of its MGA businesses.
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The specialty MGA said it didn’t experience direct losses from the LA wildfires.
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Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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A report by the ratings agency challenges current industry wisdom.
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The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
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Models anticipate a busier second half, particularly in the next few weeks.
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The wildfire MGA is expecting to write higher value homes soon and may expand into new states.
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Ransomware claims have made up the majority of recent large losses.
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The company saw a 53% decrease in cyber claims after a surge in 2024.
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The fundraising round brought in $50mn for the insurer.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Clients in the segments that AIG trades in may not be as receptive to the idea as the insurer would like.
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