Italian companies are preparing to comply with a requirement to take out natural disaster insurance from next April, although some fear it will be hard to enforce and too costly. Many small and medium-sized firms, which form the backbone of …
International and domestic insurers are pushing into the U.S. market for hard-to-protect homes, charging high premiums and enjoying strong profits after some U.S. firms pulled out. Rising losses from storms, hurricanes and wildfires in recent years have caused some insurers, …
Next year will bring more changes and risk to companies, including continually evolving work environments, product recalls, natural catastrophes, and risks from new technologies, according to a new report that looks the landscape for companies in 2025. Sedgwick’s Forecasting 2025 …
Global non-life premiums are expected to hit a decade-high growth level of 4.3% in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma. “Premium rates are now moderating, …
Insurance carriers and restoration teams face a cascade of challenges. The increasing frequency and severity of climate-induced catastrophes, such as Hurricanes Helene and Milton, have pushed some carriers out of high-risk areas, which has played a part in the 17.4% …
The third quarter of 2024 saw a number of significant disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of $102 billion, according to Aon plc in its Q3 Global Catastrophe Recap – …
Top reinsurers are showing increasing—but disciplined—appetite for natural catastrophe risks as a result of rising demand, better pricing, more favorable terms and conditions, and sound investment income, according to a report published by S&P Global Ratings. Most of the 19 …
With the start of hurricane season less than a month away, U.S. officials who predict, prepare for and respond to natural disasters had a message for Floridians on Friday: It’s not a matter of if a hurricane will hit, but …
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate increases for non-catastrophe property …