While three separate analyses of the insurance and reinsurance markets in 2012 were unable to determine whether the industry will be able to sustain recent rate increases, all agree that the industry will face challenges this year ranging from the economy to the implementation of new regulations.
The reinsurance industry his past year weathered near-record catastrophe losses, catastrophe-model changes and the pressures of a challenging macroeconomic environment, but unlike 2005, reinsurers were prepared in 2011, according to a report by Guy Carpenter.
The reinsurance industry his past year weathered near-record catastrophe losses, catastrophe-model changes and the pressures of a challenging macroeconomic environment, but unlike 2005, reinsurers were prepared in 2011, according to a report by Guy Carpenter.
The global reinsurance industry seems poised for a turn, as multiple factors are increasing the demand for reinsurance, but the short memory of the insurance industry could cause soft-market pricing to return in a hurry as the sting of recent losses fades, according to A.M. Best.
Insured losses from a magnitude 7.2 earthquake that struck eastern Turkey on Oct. 23 are estimated between $55 million and $200 million, according to two catastrophe-modeling firms.
The E&S markets greater freedoms are needed in this time of volatility, and there are significant business opportunities for wholesale brokers and E&S carriers that step up and assume this vital role.
The E&S markets greater freedoms are needed in this time of volatility, and there are significant business opportunities for wholesale brokers and E&S carriers that step up and assume this vital role.
Scientists believe there is evidence that great earthquakes occur in clusters over a period of years and that a significant event is on the horizon, according to a report from catastrophe modeler Eqecat.