Climate Change to Cause $38 Trillion a Year in Damages by 2049 April 18, 2024 By Laura Millan Climate change will inflict losses to the global economy worth an annual $38 trillion by 2049, as extreme weather ravages...
Time-Tested Loss Reserving Methods Challenged: AM Best April 17, 2024 Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve...
Coral Reefs Around World Undergoing Mass Bleaching as Oceans Warm: Scientists Warn April 17, 2024 By Alexa St. John Coral reefs around the world are experiencing global bleaching for the fourth time, top reef scientists declared Monday, a result...
Triple-I: Insurance Economic Drivers Outperform Overall US GDP April 17, 2024 The economic drivers of the U.S. property/casualty (P/C) insurance industry are growing faster than the nation’s Gross Domestic Product (GDP)...
Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023 April 16, 2024 The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium...
Inflation Continues to Increase Insured Property Exposures Globally: PERILS April 16, 2024 Inflation continues to have an effect on property exposures with sums insured for European windstorm increasing by 10.1% year-on-year at...
Australia’s Weather Bureau Says El Niño Has Ended, Unsure About La Niña Formation April 16, 2024 An El Niño weather event has ended, Australian weather authorities said on Tuesday, adding that they were uncertain if a...
UK Home, Business Property Insurance Payouts Hit $6B in 2023 April 15, 2024 By Carolyn Cohn Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a...
Travelers Survey: Distracted Drivers Making US Roads More Dangerous April 12, 2024 Nearly 80% of respondents to a recent Travelers survey said inattentive driving is more of a problem now than it...
Global Election Super-Cycle Raises Risk of Political Violence, Large Insurance Losses April 11, 2024 By L.S. Howard Almost half the world’s population will go to the polls before the end of 2024, which raises the threat of...