Australian inflation is being driven by climate change, geopolitical shocks and government policies — factors typically beyond the Reserve Bank’s control. Yet economists still anticipate it will have to respond with monetary tightening as soon as next week. In a …
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the group’s German business, expects further price increases and improved conditions during the Jan. 1, 2024 reinsurance renewals. Natural disasters and persistently high inflation have again taken a toll on the …
The chance for persistent inflation to keep interest rates higher and potential losses in the commercial real estate market are among the top concerns of respondents to a Federal Reserve survey on financial stability, the U.S. central bank said on …
The withdrawal of major homeowners insurance companies in the California market made national headlines, but news just as concerning and impactful is California’s private passenger auto insurance market. Much like the homeowners market, the PPA market has seen significant changes …
Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace accidents and a reduction in fraudulent claims, according to an AM Best …
Systemic shocks related to the recent pandemic, the war in Ukraine, natural catastrophe losses and elevated inflation have raised questions about reserve adequacy for property/casualty insurers, according to a Swiss Re report. These recent shocks have pushed up claims and …
Business interruption/supply chain disruption ranks as the top risk facing the construction and engineering sector, which has been hit by soaring construction costs, supply chain disruptions and labor shortages, according to a report published by Allianz Global Corporate & Speciality …
US insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International Insurance Society (IIS). Inflation and Insurance Replacement …
Add Nationwide to a growing list of insurers making changes to deal with losses in some areas of the country. In a June 12 “business actions update” Nationwide announced moves “to mitigate risk and manage the personal and commercial lines …
How could the current economic environment affect workers compensation – and the property and casualty insurance industry overall – in 2023? Earlier this month, insurance veteran Robert Hartwig forecasted answers. Hartwig, a clinical associate professor of finance and insurance at …
