Around the P&C insurance industry: March 8, 2023

Insurance industry news from FloodFlash, Assurex Global, Grange Insurance and more. (Photo: Shutterstock)

FloodFlash announced a new capacity agreement with Munich Re Syndicate. This announcement extends an existing carrier partnership that began with support of FloodFlash’s U.K. book of business in 2020. It comes in a period where natural catastrophe (re)insurance capacity is particularly distressed, nowhere moreso than in the U.S. Munich Re estimate losses from the Atlantic storm season to be more around $110 billion, including $65 billion of insured losses, with Hurricane Ian as the main contributor.

Assurex Global announced that 14 employees from its partner firms have been named 2023 Power Brokers by Risk & Insurance, an annual award recognizing outstanding risk management and customer service in the brokerage community. These awardees are: Lindsay Carl, CAC Specialty (Cobbs Allen), energy; Susan Garrard, CAC Specialty (Cobbs Allen), renewable energy; Sara Kane, CAC Specialty (Cobbs Allen), renewable energy; John Kim, CAC Specialty (Cobbs Allen), environmental; Michael Wakefield, CAC Specialty (Cobbs Allen), specialty; Andrew Agress, IMA Financial Group, health care; Debbie Brailsford, IMA Financial Group, at-large; Adam Eakes, IMA Financial Group, M&A; Lacy Rex, Oswald Companies, cyber; Jonida Stuewe, Oswald Companies, specialty; Josh Hedrick, Parker, Smith & Feek (IMA), agriculture; Kevin Carnell, RCM&D, health care; Jessica Thayer, Starkweather & Shepley, financial services; and Lauri Floresca, Woodruff Sawyer, captives.