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Today's Headlines
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January 2, 2025 |
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Global reinsurers' appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5-15 percent for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan. Property catastrophe renewals were consistently oversubscribed as reinsurer appetite increased by 10-15 percent, while Guy... read more
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The insurance brokerage industry is adapting to a changing landscape as macroeconomic conditions temper the tailwinds that have driven growth in recent years. High interest rates, historical valuations and tighter access to capital have slowed M&A activity, with deal flow declining nearly 20 percent in the first nine months of 2024 compared to the same... read more
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Catastrophe bond issuance rose to a record this year, increasing the overall market to almost $50 billion, as insurers transferred more risk from costly climate disasters to private investors. Sales of bonds earmarked for supplemental coverage of large windstorms, earthquakes and other events totaled $17.7 billion, up 7 percent from the previous record set a... read more
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A new study from Hive Systems, a global provider of cybersecurity services and products, finds that the public and media are misaligned when it comes to actual cybersecurity risks, leaving organizations exposed to the most common and effective attack methods. The research leveraged data from the 2024 Verizon Data Breach Investigations Report, leading media outlets... read more
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Last December, a farmer was burning dry grapevines in his vineyard in Deir Mar Moussa, a hill town a dozen miles east of Beirut known for its 18th century monastery and stands of pine forest. Usually this would be dangerous, given that Lebanon's hot and dry climate can quickly turn a spark into a conflagration.... read more
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The U.S. Food and Drug Administration is proposing that cosmetic products containing talc should be tested using standardized methods to detect asbestos, a potential contaminant, according to documents posted on the federal register last week. Asbestos, a known human carcinogen, can be injurious to consumers if found in talc-containing cosmetic products as there is no... read more
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Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. Because of the law, older condos — found... read more
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The CEO of one of California's largest vocational return to work counseling centers, Hazel Ortega, appeared in court yesterday after being charged with 23 felony counts including insurance fraud, theft and forgery, according to a press release issued by the California Department of Insurance. A DOI investigation found Ortega allegedly defrauded at least four insurance... read more
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Switching off from work is becoming more difficult as hyperconnectivity increases, according to a new study. Researchers from the University of Nottingham's Schools of Psychology and Medicine found that employees are experiencing mental and physical techno-strain due to being "hyperconnected" to digital technology. Detailed interviews with employees from a range of professions revealed the cognitive... read more
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Controlling outside legal spend is paramount for your claims organization as it ...
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In today's fast-paced insurance landscape, claims efficiency can make or break ...
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In times of unplanned events or catastrophic loss, having a reliable temporary ...
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In today's quickly transforming insurance landscape, speed to market is ...
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Fueled by groundbreaking technology, shifting consumer expectations, and a ...
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