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Insurance
A lot of insurers have been forced to reevaluate how much reinsurance they’re buying in the aftermath of the losses from hurricanes Harvey, Irma and Maria (HIM), Mike Schnur, partner at TigerRisk, told PCI Today. 17 October 2017
Insurance
Some insurtech startups are ditching their original business plans and becoming managing general agents (MGAs) because of their frustration at how long it takes the insurance industry to embrace new ideas. 17 October 2017
Insurance
Risk-based pricing of flood risk with the private market playing a prominent role in managing and insuring this risk represents the only sustainable solution that can remove the burden from the US taxpayer in the long term, Eric Andersen, chief executive of Aon Benfield, told PCI Today. 17 October 2017
Insurance
Most US cedants increasingly see using collateralised capacity as a mainstream option complementing their traditional reinsurance programmes—but education is still needed to help demystify the process for some carriers. 17 October 2017
Alternative Risk Transfer
Organisations increasingly recognise the growing value of technology and data assets relative to historical tangible assets, yet they are spending four times more budget on insurance for property, plant and equipment (PP&E) risks, a new report by Aon has revealed. 17 October 2017
Insurance
Re/insurers and brokers are realising the value of partnering with a strategic managed services provider to keep abreast of new developments in catastrophe and exposure management, as Monalisa Samal and Puneet Bajpai of Xceedance tell PCI Today. 17 October 2017
Insurance
The insurance industry should view the recent catastrophe losses it has suffered as an opportunity to shine and demonstrate its value and resilience to policymakers and policyholders alike, Mike Mulray, chief underwriting officer of Everest Insurance North America, the specialty insurance operation of the Everest Re Group, told PCI Today. 17 October 2017
Insurance
Beazley is seeking rate increases of between 5 and 10 percent on all international non-loss affected renewals, and potentially bigger increases on US lines as it looks to improve its return on capital, Patrick Hartigan, team leader, treaty team at Beazley, told PCI Today. Lines hit by losses could go up even more. 17 October 2017
Insurance
Aon Securities has published its annual ILS report: Alternative Capital Breaks New Boundaries. Paul Schultz, its chief executive, tells PCI Today about the key developments during what has been a record year for ILS. 17 October 2017
Insurance
While stressing that rate increases are needed, SCOR will take a nuanced approach in how it applies any rises to clients. It will consider a book’s loss experience, current level of rates and whether a client is able to achieve rate increases on its own portfolio. 17 October 2017
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