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Insurance
US insured losses associated with wind and coastal flooding from Hurricane Nate will not exceed $500 million, according to RMS. 16 October 2017
Insurance
Lloyd’s has paid close to three quarters of a billion dollars ($738 million) in claims so far for Hurricanes Harvey, Irma and Maria, said Jon Hancock, performance management director at Lloyd’s. 16 October 2017
Insurance
Insurtech startup CoverWallet has closed an $18.5 million series B funding round led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr, and Two Sigma Ventures. 16 October 2017
Insurance
Losses from natural catastrophes in the third quarter will likely wipe out global reinsurers' annual earnings and ultimately become a capital event for the sector, S&P Global Ratings said on Oct. 13. 16 October 2017
Insurance
The recent hurricanes have turned the spotlight on to the importance of flood modelling, which has come a long way in a short amount of time, Pete Dailey, vice president and head of global flood models at RMS, told PCI Today. 16 October 2017
Insurance
S&P Global Ratings has announced that it expects US property/casualty (P/C) insurers’ credit to be resilient in the face of hurricanes Harvey, Irma and Maria (HIM) in its latest rating report. 16 October 2017
Insurance
The insurance industry is going through an unparalleled period of change at an unprecedented pace and chief executives unwilling or unable to embrace this rapid development in their markets may not find themselves in their role for long. They must embrace change or get left behind. 15 October 2017
Insurance
Retrocessional rates must increase in the aftermath of big losses from the recent hurricanes and underwriters lacking the will to fight for hikes should get out of the business. 15 October 2017
Insurance
Rates in property-catastrophe reinsurance are likely to increase more than many believe in the aftermath of big hurricane losses because of the low level of equity raising and the debut of trapped capital as a major issue. 15 October 2017
Insurance
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon, has established a partnership with CLARA analytics to deliver cutting-edge artificial intelligence (AI) tools to workers’ compensation insurers in the US to help employees return to work as quickly as possible, while decreasing loss ratios and improving operational efficiency. 15 October 2017
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