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, …
This year is “effectively certain” to be the warmest on record with temperatures climbing above a closely watched threshold for the first time. The average global temperature reached 1.62C above pre-industrial levels in November, according to the EU-funded Copernicus Climate …
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, …
Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens …
New research from Stanford University shows that hurricanes and tropical storms in the United States cause a surge of deaths for nearly 15 years after a storm hits. Researchers estimate an average U.S. tropical cyclone indirectly causes 7,000 to 11,000 …
Hundreds of thousands of Americans already live in homes that have repeatedly flooded. To get a good handle on the extent of those losses, check out the Federal Emergency Management Agency’s web page that hosts an extensive dataset with information …
As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations. Captive insurance, where companies create their own coverage vehicles, …
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 …
Typhoon Shanshan, which struck southern Japan last week with heavy rain and strong winds, was likely intensified by climate change, according to a study from Imperial College London. Researchers with the university teased out the contribution of global warming to …
A strategy that’s delivered specialist investors huge returns is now facing scrutiny, amid concerns that its risk-reward dynamics might be skewed against some issuers. Catastrophe bonds, which are issued by insurers, reinsurers and governments seeking an extra layer of disaster …