Large shipping losses dropped by 20% last year, in a continuation of decade-long trend when losses declined by almost 70%, according to a report published by Allianz Global Corporate & Specialty (AGCS). However, the report warned that the coronavirus crisis …
Global reinsurance capital fell 6% to $590 billion for the first quarter of 2020, Aon reported in its June/July Reinsurance Market Outlook report. The report, which also looks at changes in reinsurance demand levels, hot-button reinsurance wording themes and primary …
The COVID-19 pandemic has created challenges for many businesses across the globe, including the insurance industry. But so far, the insurance broker merger and acquisition (M&A) market has remained active even as the pandemic continues to unfold. Before the pandemic, …
Even though accelerating hard market conditions may seem ideal for a growing crop of professionals with designs on starting up insurance and reinsurance companies, garnering AM Best ratings still won’t be easy for newbies. Capital is coming into the industry …
Coastal communities in the U.S. continued to see record-setting high-tide flooding last year, forcing their residents and visitors to deal with flooded shorelines, streets and basements — a trend that is expected to continue into 2021. The elevated water levels …
There were 288 announced insurance agency mergers and acquisitions during the first half of 2020, down from 328 in 2019, according to a report from OPTIS Partners. It was the lowest six-month period total since 2017. “Some of the active …
Autopilot, ProPilot, CoPilot: Automakers have many names for new systems that allow for hands-free driving, but no safety or performance standards to follow as they roll out the most significant changes to vehicle technology in a generation. Spurred by Tesla …
The West African coast has overtaken Southeast Asia as the worst area for piracy and kidnappings reported at sea last year, with the number of seafarers seized rising by more than 50%, according to a study. The area, known as …
Only one-quarter of business leaders say their organizations are fully ready for the end of the Brexit transition period, according to a survey by the Institute of Directors. Nearly half of the 978 company directors polled late last month said …
Wildfires threaten the economy of the western United States to a greater extent than the rest of the country, and the coronavirus pandemic and climate change will only make that worse, according to research from the San Francisco Fed on …
