In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent top-10 spots. Fitch compiled and …
Fitch Ratings assigned an ‘A-‘ rating to the $500 million revenue bond issuance by The California Earthquake Authority. According to the rating agency, the CEA’s ratings reflect a risk transfer strategy that will set its minimum and maximum aggregate claims-paying …
Three years of soaring directors and officers liability insurance prices pushed combined ratios down to the mid-to-high 90s, but new entrants and potential claims volatility may spell trouble for underwriters in the years ahead. Updating an earlier report on the …
Agencies that rate and rank nations, corporations and colleges wield enormous power, influencing investment flows and prompting leaders to pursue policies that might improve their standing. But the source of that clout is puzzling, Cornell University economist Kaushik Basu writes …
According to estimates by Fitch Ratings, direct written premiums (DWP) for standalone and packaged cyber insurance increased 74% to nearly $5 billion in 2021 compared with overall growth for the property casualty industry of 9%, making cyber insurance the fastest …
The Russian invasion of Ukraine has increased the risk of cyberattacks and potential claim costs for property/casualty (P/C) insurers globally that offer cyber coverage, the majority of which is underwritten in North America. Such attacks may also further test the …
Florida homeowners’ insurance specialists are reporting continued performance deterioration and a decline in capitalization levels, despite the most severe losses from the record 2020 hurricane season occurring outside of the Florida market, Fitch Ratings said in a recent report. According …
Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and …
U.S. property/casualty insurers’ investment position in other alternative investments as reported is concentrated within a few large insurers and is relatively stable as a percentage of invested assets for the last several years. Also, the attraction to alternative investments, including …
Last fall, after a trio of deadly hurricanes, ratings companies warned vulnerable coastal cities to get ready for climate change — or face higher borrowing costs on the $3.9 trillion municipal bond market. Climate advocates cheered, hoping the prospect of …
