Ongoing economic uncertainty, weak investments and a spate of record-breaking catastrophes made 2011 challenging for most insurers. But executives are hopeful that firming prices, a history of success in selected markets and a little luck could make 2012 the insurance industrys turnaround year.
Climate change will lead to 10 times the number of hotter days in many areas, with more heavy precipitation and higher wind speeds globally, but adaption and mitigation can reduce the risks significantly, according to a new report.
Climate change will lead to 10 times the number of hotter days in many areas, with more heavy precipitation and higher wind speeds globally, but adaption and mitigation can reduce the risks significantly, according to a new report.
Homeowners rates in Massachusetts have been inflated due to the use of unproven and in some cases discredited hurricane models, according to the states attorney general.
Homeowners rates in Massachusetts have been inflated due to the use of unproven and in some cases discredited hurricane models, according to the states attorney general.
The London market, absorbing its share of U.S. and international catastrophe losses has come out extremely well positioned in terms of risk appetite, although brokers are challenged to find the best deals for clients faced with increases.
In spite of a difficult year for catastrophes, buyers of both liability and property coverage are for the most part pleased with their renewals, even for difficult placements, although they stress that having a positive risk history and solid broker/market relationships makes a difference.
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.