Reinsurers’ Appetite for Nat Cat Risk Grows – With Discipline
Most large reinsurers rated by S&P increased exposure to natural catastrophes at Jan 1.
ESG Backlash Erupts in Europe on World’s Strictest Rules
Faced with diverging rules between the US and Europe, some companies weigh options.
- Trojan Condoms Contain ‘Forever Chemicals,’ Lawsuit Claims
- New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown
- Florida Governor Floats Condo Relief Session; Condo Captive Idea Flagging
- Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment
- VW Scraps Three-Decades-Old German Jobs Pledge to Cut Costs
- An ESG Backlash Erupts in Europe on World’s Strictest Rules
- Police Have Increased Use of Maine’s ‘Yellow Flag’ Law Since Mass Shooting
- Union Reports Cyber Incident May Have Exposed Members’ Private Information
- Women Settle Lawsuits With Yale Fertility Clinic Over Nurse Who Stole Their Painkillers
- Four People From Connecticut Die in Small Plane Crash in Vermont
- People Moves: Rhodes Named Berkley Mid-Atlantic President; Korzon Succeeds Ryan at Lockton Northeast; Acrisure Appoints Farber for Mid-Atlantic
- Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment
- New Southern California Wildfire Threatens Mountain Communities
- Wife of California Inmate Wins $5.6 Million in Settlement for Strip Search
- SAIF in Oregon Declares $60M Dividend for Workers’ Comp Policyholders
- AM Best Places Credit Ratings of Oregon Mutual Group Members Under Review
- Another Fast-Growing Southern California Wildfire Forces Evacuations
- Toxic Debris from Hawaii Wildfire Could Fill 5 Football Fields 5 Stories Deep
- Delta Jets Collide on the Ground at Atlanta Airport, Causing Minor Damage
- Hurricane Debby Florida Losses Top $121M; 60% of Claims Closed
- Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims
- Mississippi Commissioner Warns of Francine’s Impact on State
- ‘Dr. Taxes’ in Georgia Charged With Taking Workers’ Comp Premiums From Clients
- Florida Governor Floats Condo Relief Session; Condo Captive Idea Flagging
- Hurricane Francine Bears Down on Louisiana With Dangerous Winds
- Francine Strengthens to Hurricane as It Barrels to Louisiana
- Tropical Storm Francine Churns Toward Louisiana as Path Shifts
- Residents in Louisiana City Still Recovering From 2020 Hurricanes
- Texas-Based Insurtech Sigo Seguros Raises $5.1M in Pre-Series A Funding
- Tropical Storm Francine Strengthens, Spurring Oil Shutdowns
- Two Workers Die in Accident at South Dakota Farm Silo
- Few Households Opt Out of $600M Ohio Train Derailment Settlement
- Chicago Man Awarded $50M in Damages After Wrongful Murder Conviction
- Iowa Manufacturer to Pay $51K Fine For Alleged Hazardous Waste Violations
- People Moves: Grange Insurance Names Lebens as CFO
- Missouri Patient Infected with Bird Flu Without Animal Contact
National News
- US Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023: Report
- Norfolk Southern Says CEO Under Investigation for Alleged Ethical Lapses
- Payment Gateway Slim CD Notifies 1.7M Cardholders of Hack
- SEC Hits 7 Companies With Penalties for Violating Whistleblower Protections
- Keurig Agrees $1.5M SEC Fine Over Pod Recyclability Statements
- People Moves: Mosaic Builds Out Environmental Liability Team With 13 US Hires
- AM Best: Unfavorable Operating Performance Key Driver of Downgrades
- Study Suggests US Droughts, Rainy Extremes Becoming More Severe
East News
- Police Have Increased Use of Maine’s ‘Yellow Flag’ Law Since Mass Shooting
- Union Reports Cyber Incident May Have Exposed Members’ Private Information
- Women Settle Lawsuits With Yale Fertility Clinic Over Nurse Who Stole Their Painkillers
- Four People From Connecticut Die in Small Plane Crash in Vermont
- People Moves: Rhodes Named Berkley Mid-Atlantic President; Korzon Succeeds Ryan at Lockton Northeast; Acrisure Appoints Farber for Mid-Atlantic
- Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment
Midwest News
- Two Workers Die in Accident at South Dakota Farm Silo
- Few Households Opt Out of $600M Ohio Train Derailment Settlement
- Chicago Man Awarded $50M in Damages After Wrongful Murder Conviction
- Iowa Manufacturer to Pay $51K Fine For Alleged Hazardous Waste Violations
- People Moves: Grange Insurance Names Lebens as CFO
- Missouri Patient Infected with Bird Flu Without Animal Contact
A PFAS ‘Superstorm’ of Litigation, Regulation
Specialists in PFAS say insurers are excluding or outright denying coverage.
Texas / South Central News
- LDI Urges Residents to Check for ALE Coverage Ahead of Hurricane Francine
- Hurricane Francine Bears Down on Louisiana With Dangerous Winds
- Francine Strengthens to Hurricane as It Barrels to Louisiana
- TSLA Unveils New Website and Management System
- Tropical Storm Francine Churns Toward Louisiana as Path Shifts
- Residents in Louisiana City Still Recovering From 2020 Hurricanes
Southeast News
- Delta Jets Collide on the Ground at Atlanta Airport, Causing Minor Damage
- Hurricane Debby Florida Losses Top $121M; 60% of Claims Closed
- Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims
- Mississippi Commissioner Warns of Francine’s Impact on State
- ‘Dr. Taxes’ in Georgia Charged With Taking Workers’ Comp Premiums From Clients
- Florida Governor Floats Condo Relief Session; Condo Captive Idea Flagging
Climate Losses Batter Insurers While Reinsurers Step Back
Reinsurers have ramped up their prices and are demanding more favorable terms.
West News
- New Southern California Wildfire Threatens Mountain Communities
- Wife of California Inmate Wins $5.6 Million in Settlement for Strip Search
- SAIF in Oregon Declares $60M Dividend for Workers’ Comp Policyholders
- AM Best Places Credit Ratings of Oregon Mutual Group Members Under Review
- Another Fast-Growing Southern California Wildfire Forces Evacuations
- Toxic Debris from Hawaii Wildfire Could Fill 5 Football Fields 5 Stories Deep
International & Reinsurance News
- US Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023: Report
- Built-Up Cities Get More Rain Than Rural Outskirts, Study Finds
- Finland’s Sampo Secures Deal for Danish Insurer Topdanmark
- Russia Loses EU Case Aimed at Unblocking Sanctioned €70 Billion
- DBS Group Considers Forming Insurance Partnerships in India, Taiwan: Sources
- Factories in Vietnam’s Export Hub May Face Weeks of Disruption After Typhoon Yagi
- Treaty Reinsurance Premiums in London Company Market Grew by 32% in 2023: IUA
Insurance Journal Blogs and Columns
- The Essential Role of BPO in Streamlining Insurance Operations
- Administrative Actions: What Are They and Who Do You Report Them to?
- The Importance of Exceptional Service in New Business Acquisition and Retention
- Legal System Abuse Hammers Truck Insurance
- Real-Time Rating and Quoting: A Game Changer for Underwriters
- Unauthorized Passengers in Cargo Transportation: Risks and Considerations
Sponsored Newswire
- Arrowhead announces new carrier partnership for New Jersey homeowners
- This Niche Agency Grew 200% by Digitizing Their Agency Bill and Surplus Lines Business.
Quote of Note
"The widening global protection gap is a huge opportunity for insurers to fulfill their mandate as risk absorbers and improve societal resilience. In times of crisis, households need risk protection. Insurance is a key tool to help households reduce their financial vulnerability in disruptive environments."
More QuotesJerome Jean Haegeli, group chief economist, Swiss Re
Insurance Top Gainers/Losers
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Global Indemnity Group, LLC | GBLI | $32.42 | +2.11% |
| Trupanion, Inc. | TRUP | $43.60 | +1.70% |
| Enact Holdings, Inc. | ACT | $36.00 | +0.84% |
| Erie Indemnity Company | ERIE | $506.74 | +0.71% |
| Donegal Group Inc. | DGIC.A | $15.24 | +0.59% |
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Skyward Specialty Insurance Group, Inc. | SKWD | $39.73 | -5.88% |
| Root, Inc. | ROOT | $35.83 | -4.68% |
| Goosehead Insurance, Inc | GSHD | $81.77 | -4.61% |
| Heritage Insurance Holdings, Inc. | HRTG | $15.05 | -4.38% |
| HCI Group, Inc. | HCI | $95.58 | -4.37% |
