Aon London

Aon Client Treaty seeks new participations ahead of 1.1 renewal

2022-10-07T07:23:00+01:00

Aon is understood to be out in the market seeking new participants for its flagship London market facility Aon Client Treaty (ACT), The Insurer can reveal.

IM-Alps-AMBest

LPL specialist direct carrier ALPS upgraded to A by AM Best

2022-10-07T13:16:00+01:00

ALPS Property & Casualty Insurance Company has said its upgrade to A by AM Best is evidence that a direct carrier can operate effectively in the small commercial space, after the rating agency highlighted the lawyers’ malpractice insurance specialist’s sophisticated pricing and data analytics tools.

Net Diligence

NetDiligence study: SMEs’ average ransomware incident cost rose 28% to $453K in 2021

2022-10-07T13:02:50.303+01:00

A NetDiligence claims study has shown that ransomware was the leading cause of cyber loss among SMEs for the third year in a row in 2021, while the overall business interruption (BI) cost of a ransomware incident has grown significantly. 

PG&E – Dixie fire

PG&E’s D&O insurers to cover $117mn victim trust settlement

2022-10-07T13:02:00+01:00

Insurers will cover the $117mn settlement of PG&E Fire Victim Trust (FVT)’s lawsuit against PG&E’s former officers and directors for damages caused to the utility in connection with the North Bay Fires and the Camp Fire.

Peak Re – Hong Kong

Peak Re ratings placed on review for downgrade by Moody’s

2022-10-07T08:51:00+01:00

Peak Re’s Baa1 insurance financial strength rating has been placed on review for downgrade by Moody’s.

IM-Alps-AMBest

LPL specialist direct carrier ALPS upgraded to A by AM Best

2022-10-07T13:16:00+01:00

ALPS Property & Casualty Insurance Company has said its upgrade to A by AM Best is evidence that a direct carrier can operate effectively in the small commercial space, after the rating agency highlighted the lawyers’ malpractice insurance specialist’s sophisticated pricing and data analytics tools.

Net Diligence

NetDiligence study: SMEs’ average ransomware incident cost rose 28% to $453K in 2021

2022-10-07T13:02:50.303+01:00

A NetDiligence claims study has shown that ransomware was the leading cause of cyber loss among SMEs for the third year in a row in 2021, while the overall business interruption (BI) cost of a ransomware incident has grown significantly. 

PG&E – Dixie fire

PG&E’s D&O insurers to cover $117mn victim trust settlement

2022-10-07T13:02:00+01:00

Insurers will cover the $117mn settlement of PG&E Fire Victim Trust (FVT)’s lawsuit against PG&E’s former officers and directors for damages caused to the utility in connection with the North Bay Fires and the Camp Fire.

Peak Re – Hong Kong

Peak Re ratings placed on review for downgrade by Moody’s

2022-10-07T08:51:00+01:00

Peak Re’s Baa1 insurance financial strength rating has been placed on review for downgrade by Moody’s.


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Viewpoint

  • RISX index

    Hedging tail risks through capital markets

    2022-10-05T07:26:00+01:00

    True market-turning events might be rare, suggest Quentin Moore and Markus Gesmann, but you want to be prepared for the potential upside thereafter.

  • LMG

    Reshaping our market demographic

    2022-10-04T07:26:00+01:00

    The challenge of attracting and retaining young talent, and ensuring that it reflects the communities we serve, has been a topic for discussion in boardrooms and at industry conferences for several years now.

  • Covid-19

    Casualty will benefit from more expert treatment

    2022-09-14T00:40:00+01:00

    The last two years tested nerves in the casualty market, but the worst fears failed to materialise. TigerRisk’s Joshua Everdell examines how experience and judgement can help reduce the stress…

More Viewpoint

RISX

Global specialty equity index September gains flushed by Ian and global market sell-off

The global specialty (re)insurance-focused RISX index – which targets publicly listed companies with underwriting subsidiaries at Lloyd’s – ended 6 percent down in September.

FCA coronavirus

FCA: UK Covid-19 BI payouts top £1.51bn

Insurers have now paid out more than £1.2bn ($1.38bn) in final payments to UK businesses with valid claims for pandemic-related closures, according to data from the Financial Conduct Authority (FCA).

US stocks

P&C insurance stocks flounder in September amid global equity sell-off

The S&P 500 fell 9.3 percent during September, the most significant correction since the pandemic crash in March 2020, as investors dumped stocks and bonds amid recession fears.

RISX

Global specialty equity index September gains flushed by Ian and global market sell-off

The global specialty (re)insurance-focused RISX index – which targets publicly listed companies with underwriting subsidiaries at Lloyd’s – ended 6 percent down in September.

FCA coronavirus

FCA: UK Covid-19 BI payouts top £1.51bn

Insurers have now paid out more than £1.2bn ($1.38bn) in final payments to UK businesses with valid claims for pandemic-related closures, according to data from the Financial Conduct Authority (FCA).

US stocks

P&C insurance stocks flounder in September amid global equity sell-off

The S&P 500 fell 9.3 percent during September, the most significant correction since the pandemic crash in March 2020, as investors dumped stocks and bonds amid recession fears.

Retro

Goodbye retro?

In recent years a schism occurred in the interconnected property (re)insurance value chain.

Offshore oil rig

Will others follow Munich Re syndicate’s oil and gas exit?

(Re)insurers’ appetite to continue underwriting fossil fuels has been under increased scrutiny in recent years with environmental activists keen to highlight the role the industry plays as an enabler of these activities.

Hurrican Ian

Ian highlights protection gap challenge

For all the headlines in trade publications such as The Insurer about the impact of Hurricane Ian on the insurance industry, we must not ignore the human tragedy of the event and its burden on Floridians – as well as the glaring light it shines on the issue of the ...

Retro

Goodbye retro?

In recent years a schism occurred in the interconnected property (re)insurance value chain.

Offshore oil rig

Will others follow Munich Re syndicate’s oil and gas exit?

(Re)insurers’ appetite to continue underwriting fossil fuels has been under increased scrutiny in recent years with environmental activists keen to highlight the role the industry plays as an enabler of these activities.

Hurrican Ian

Ian highlights protection gap challenge

For all the headlines in trade publications such as The Insurer about the impact of Hurricane Ian on the insurance industry, we must not ignore the human tragedy of the event and its burden on Floridians – as well as the glaring light it shines on the issue of the ...