Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 20...
https://www.insurancejournal.com/news/international/2024/04/30/772116.htm
Motor premiums increased by just 1% in the first quarter of 2024, indicating an easing of the price rises seen in 2023 when premiums rose by 25% from 2022, according to the Association of British...
https://www.insurancejournal.com/news/international/2024/04/29/771917.htm
Previous workers’ compensation claims can present an opportunity for agents serving small-business clients. The Hanover’s “2024 Small Business Risk Report: A Focus on Workers’ Compensatio...
https://www.insurancejournal.com/news/national/2024/04/26/771675.htm
Global commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Mars...
https://www.insurancejournal.com/news/international/2024/04/24/771354.htm
As time passes after hurricanes, new analysis by Stanford University researchers shows perception of personal risk, including the likelihood of injury and home damage, decline. The findings sugge...
https://www.insurancejournal.com/news/national/2024/04/23/770430.htm
The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise it...
https://www.insurancejournal.com/news/international/2024/04/22/770942.htm
More than 70% of the global workforce is exposed to risks linked to climate change that cause hundreds of thousands of deaths each year, the International Labour Organization said on Monday, addi...
https://www.insurancejournal.com/news/international/2024/04/22/770938.htm
Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with US claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Ga...
https://www.insurancejournal.com/news/international/2024/04/18/770612.htm
Climate change will inflict losses to the global economy worth an annual $38 trillion by 2049, as extreme weather ravages agricultural yields, harms labor productivity and destroys infrastructure...
https://www.insurancejournal.com/news/international/2024/04/18/770543.htm
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to contin...
https://www.insurancejournal.com/news/international/2024/04/17/770297.htm
Coral reefs around the world are experiencing global bleaching for the fourth time, top reef scientists declared Monday, a result of warming ocean waters amid human-caused climate change. Coral r...
https://www.insurancejournal.com/news/international/2024/04/17/770256.htm
The economic drivers of the U.S. property/casualty (P/C) insurance industry are growing faster than the nation’s Gross Domestic Product (GDP) and are expected to gain further momentum in the ev...
https://www.insurancejournal.com/news/national/2024/04/17/770233.htm
The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to...
https://www.insurancejournal.com/news/national/2024/04/16/770148.htm
Inflation continues to have an effect on property exposures with sums insured for European windstorm increasing by 10.1% year-on-year at constant euro exchange rates, at similar levels to 2023, a...
https://www.insurancejournal.com/news/international/2024/04/16/769832.htm
An El Niño weather event has ended, Australian weather authorities said on Tuesday, adding that they were uncertain if a La Niña phenomenon would form later this year, as other forecasters have...
https://www.insurancejournal.com/news/international/2024/04/16/770087.htm
Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a year earlier, as weather-related home claims hit a record high, ...
https://www.insurancejournal.com/news/international/2024/04/15/769859.htm
Nearly 80% of respondents to a recent Travelers survey said inattentive driving is more of a problem now than it has been in past years. Travelers noted the pandemic triggered a new wave of dange...
https://www.insurancejournal.com/news/national/2024/04/12/769535.htm
Almost half the world’s population will go to the polls before the end of 2024, which raises the threat of political violence and possible large insurance losses, according to Allianz Commercia...
https://www.insurancejournal.com/news/international/2024/04/11/769234.htm
The 2023 wildfire season in the Europe was among the worst this century, according to a European Commission report published on Wednesday. Last year, more than half a million (504,002) hectares, ...
https://www.insurancejournal.com/news/international/2024/04/11/769096.htm
It was another record-breaking year for vehicle thefts in 2023, with more than one million vehicles reported stolen – an overall increase of 1% nationwide from 2022 to 1,020,729 last year. A re...
https://www.insurancejournal.com/news/national/2024/04/10/768984.htm
New technologies and rising labor costs are putting pressure on auto insurance carriers and auto repairers by making repairs more costly and increasing repair times, trends that a new report asse...
https://www.insurancejournal.com/news/national/2024/04/09/768632.htm
If the rising price of homeowners insurance were factored into the US Consumer Price Index — a key metric of inflation — it could have added 80 basis points, or about 0.8%, to last year’s C...
https://www.insurancejournal.com/news/national/2024/04/09/768610.htm
Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC...
https://www.insurancejournal.com/news/national/2024/04/09/768574.htm
US insurers paid out $1.12 billion in dog-related injury claims in 2023 according to the Insurance Information Institute (Triple-I) and State Farm. The number of dog bite and related injury claim...
https://www.insurancejournal.com/news/national/2024/04/09/768551.htm
Reported assaults on nurses jumped 5% across the United States in 2023, according to a new report, raising questions for workers’ compensation insurers and potentially adding to calls for legis...
https://www.insurancejournal.com/news/national/2024/04/09/768422.htm
Some of Britain’s top financial firms pay women 28.8% less on average than male counterparts, salary data from 21 companies reviewed by Reuters shows, even though they say they are striving to ...
https://www.insurancejournal.com/news/international/2024/04/08/768391.htm
Owning a home can feel like risky business, from coming up with the mortgage payment every month to worrying about disasters like fires or floods or tornadoes. But here is something riskier still...
https://www.insurancejournal.com/news/national/2024/04/08/768381.htm
A lack of investment in green energy has left the world on track to overshoot the 1.5C temperature increase that scientists have defined as a critical threshold in global efforts to contain clima...
https://www.insurancejournal.com/news/international/2024/04/05/768168.htm
Brokers Aon and Gallagher Re described a buyers’ reinsurance market for the April 1, 2024 property and specialty renewals as reinsurer profit margins benefited from last year’s “redistribut...
https://www.insurancejournal.com/news/international/2024/04/05/768134.htm
Weather forecasters at Colorado State University (CSU) on Thursday predicted an “extremely active” 2024 Atlantic hurricane season because of warm sea surface temperatures and less wind shear ...
https://www.insurancejournal.com/news/national/2024/04/04/768099.htm