Rates are steady in the Commercial Multi-Peril market, and are falling in some cases. Coverage is broader, and several insurers have added Cyber insurance to packages that already include Property, General Liability and, depending on the insurer, Marine, Crime and Auto.
Catastrophe-reinsurance pricing will likely see a low-double-digit drop at Jan. 1 renewals thanks to the quietest U.S. Atlantic hurricane season in decades, says Fitch. And a Fitch analyst says alternative capital, which is also pressuring rates, is likely here to stay even in the event of a major loss.
With abundant capacity available and reinsurers tempered approach to catastrophe modeling, reinsurance renewals are stable despite 2011s monster losses.
Century Surety President Christopher Timm provides an E&S carrier executive perspective on the property insurance market, revealing that a remarkable period of natural disasters has had less direct impact on the U.S. surplus lines insurance marketplace than on admitted carriers. But pressures from global reinsurers could fuel capacity challenges and...
Two reports on catastrophe bonds show they are heavily weighted toward U.S. hurricane risks. Investors, “keen” on the cat-bond market overall, are eager to place their dollars in other cat-bond categories as well.
A quiet second-quarter catastrophe-bond market reflects the desire among investors to put their money into places other than U.S. hurricane risks, a report from Willis Group Holdings says.
Meadowbrook Insurance Group Inc. says its second-quarter results will include higher-than-average storm-related losses, net of reinsurance, of approximately $12.5 million pre-tax.
For U.S. coastal property business, “the market’s capital has felt ‘three Katrinas,’” according to experts at a reinsurance broker, which previously speculated it would take three Katrina-sized events to push up reinsurance prices.