Commercial Lines

The insurance industry, with its increased use of better tools to assess risk and allocate capital, might see shortened market cycles than it is used to, according to an executive from Chartis.

The insurance industry, with its increased use of better tools to assess risk and allocate capital, might see shortened market cycles than it is used to, according to an executive from Chartis.

In a report focusing mostly on the energy-insurance market, insurance broker Willis took time to discuss the global insurance-pricing cycle, stating a market turn, which many feel is already beginning, is not necessarily guaranteed to occur just yet.

Global reinsurer Munich Re says it expects its share of losses from flooding in Thailand to be around 500 million ($666.1 million at current exchange rate) net before tax.

Global reinsurer Munich Re says it expects its share of losses from flooding in Thailand to be around 500 million ($666.1 million at current exchange rate) net before tax.

The largest of Texas 2011 wildfires, the Bastrop fire, is now expected to cause $325 million in insured losses, up from previous estimates of $250 million, according to the Insurance Council of Texas.