The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry clapped back by saying extreme weather is just part of …
The European Central Bank and the region’s insurance authority proposed a two-pronged approach to increase insurance coverage for floods, storms and other weather disasters that are increasingly being fueled by climate change. One part of the plan is a voluntary …
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 …
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, …
Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places. Flooding rainfall and …
Tidal action on the underside of the Thwaites Glacier in the Antarctic will “inexorably” accelerate melting this century, according to new research by British and American scientists. The researchers warn the faster melting could destabilize the entire West Antarctic Ice …
U.S. property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average U.S. property insurance rate decreased 0.94% in the second quarter from a year …
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 …
The Federal Emergency Management Agency approved more than $61 million for Iowa residents who experienced damage from this spring’s flooding, severe storms and tornadoes. FEMA said has provided $56 million in Individual Assistance money to help survivors with home repairs, …