News
Insurance
Reinsurers must learn to manage prices in a more holistic way across the portfolio with a higher baseline in terms of what they will accept by way of a response to the disappointing increases in the aftermath of the 2017 catastrophe losses, Axel Freiboth, managing director, North America at Hannover Re, told PCI Today. 29 October 2018
Insurance
UK insurers will breathe a sigh of relief if a Covered Agreement between the UK and the US is in place by December—and it appears that Congress has the desire to make this happen, Robert Gordon, PCI’s senior vice president, policy, research and international, told PCI Today. 29 October 2018
Insurance
Low interest rates remain a challenge for insurers—but some have innovated in an attempt to overcome this, as Chip Clark of New England Asset Management tells PCI Today. 29 October 2018
Insurance
Insurers increasingly want their reinsurance to potentially give them a competitive advantage—and they expect their reinsurance brokers to innovate to achieve this, Mike Schnur, partner, TigerRisk Partners, told PCI Today. 29 October 2018
Insurance
US homeowners’ direct written premiums increased from $91 billion in 2016, to $94 billion in 2017, and could reach $96 billion in 2018 given rate activity through September, according to Aon’s Reinsurance Solutions’ annual Homeowners’ ROE Outlook report. 29 October 2018
Insurance
The US re/insurance industry must learn the lessons from when the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) was renewed in 2015 as it mulls the act’s expiration and possible renewal in 2020, Emil Metropoulos, senior vice president and workers’ compensation and terrorism practice leader at Guy Carpenter, told PCI Today. 29 October 2018
Insurance
The US commercial auto market remains challenging for insurers, and vast improvement is still needed, according to a report by Fitch Ratings. 29 October 2018
Insurance
S&P Global’s capital model data on its global reinsurer cohort shows a very significant capital buffer to absorb cat losses. But ratings could still fall following a bad cat year, as Stuart Shipperlee, head of analysis at Litmus Analysis, explained to PCI Today. 29 October 2018
Insurance
Insurers and reinsurers must find a way to plug the protection gap in the US, revealed so starkly in the aftermath of recent hurricanes and especially relating to flood risk, David Sampson, chief executive of the Property Casualty Insurers Association of America (PCI), told PCI Today. 28 October 2018
Alternative Risk Transfer
The prevalence of alternative capital meant the industry’s response to the 2017 losses was very different from the past, with the new capital that entered the industry behaving in a way that was transactional and short-term—and almost desperate in some instances. 28 October 2018
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