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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
Total losses from recent natural catastrophes could hit $100 billion and the industry needs to look at its exposures and learn lessons to help it manage its risks better, John Kapitan, head of Americas client development at RMS, told PCI Today. 17 October 2017
Insurance
The re/insurance industry needs to embrace the advantages in time and processing power that the cloud can give their modelling and other computer-generated planning processes, Jonathan Silverman, director of insurance industry solutions at Microsoft, 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
Insurance
While the industry is well capitalised and market sentiment mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, according to a study by Guy Carpenter. 17 October 2017
Insurance
The property/casualty industry is facing a time of unprecedented change, David Sampson, the president and chief executive officer of the Property Casualty Insurance Association of America (PCI), told delegates in his opening address at the PCI Annual Meeting on Monday October 16. 17 October 2017
Insurance
The wildfires still raging in California will be among the costliest wildfires on record for US P&C insurers and could cost the industry up to $6 billion, according to early industry estimates. 17 October 2017
Insurance
US homeowners’ premiums increased from $89 billion in 2015, to $91 billion in 2016, and are expected to reach $93 billion in 2017, according to Aon Benfield’s annual Homeowners’ ROE Outlook report, which forecasts continued growth in direct US homeowners’ insurance premiums for 2017 despite a decreasing return on equity (ROE) for insurers. 17 October 2017
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