Los Angeles, California-based insurer Mercury General expects gross losses from the January 2025 wildfires to amount to $1.6 billion to $2 billion, and net losses of between $155 million and $325 million, with the insurer yet to decide whether to designate the Palisades and Eaton fires as one or two events.
Cyber Risks, P/C Insurers Axa, Axis, The Travelers Cos., Zurich
In a new Security Incident Report (SIR) created following the Amazon Web Services (AWS) outage, CyberCube, a provider of cyber risk analytics for the re/insurance industry, highlights the systemic risk from concentrated cloud-provider dependencies, revealing the exposure of digital ecosystems to a single cloud region/critical service failure.
David Flandro, Head of Industry Analysis and Strategic Advisory, Howden Tiger, has observed that dedicated reinsurance capital has recovered to near-record levels, enticed by generationally strong pricing and favourable terms and conditions in key lines of business.
Agents and Brokers, Mergers and Acquisitions Hub International
Catastrophe Modeling, P/C Insurers, Property, Risk Management
Lockton expects a positive rate environment to continue in the first half of 2024, despite 1.1 renewal activity suggesting the reinsurance market is stabilising following difficult treaty renewals a year earlier.
A new report from Swiss Re Institute states that Euro area inflation pressure is broadening out and becoming “stickier”, as core Consumer Price Index (CPI) rises to a new multi-decade high.
Aviation, Catastrophe Modeling, Catastrophes, Claims Management, Emerging Risks, Marine, P/C Insurers, P/C Pricing, Property, Reinsurance Australia & New Zealand, France
Excess and Surplus Lines, P/C Insurers, Risk Management Marsh & McLennan
A collaboration between insurers, property developers, and technical experts has led to the launch of the UK’s first Commercial Timber Guidebook, which aims to promote the use of structural timber in office construction.
