Property
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Q2 marked the 23rd consecutive quarter of year-over-year property rate increases, with rates rising 21% on average and further increases expected for the rest of the year. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Authorization for the National Flood Insurance Program (NFIP) could expire at 12:01 AM Sunday in tandem with a pending government shutdown, halting most new policy writing and renewals.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Lara's plan, backed Thursday by an executive order from California Governor Gavin Newsom, repackages elements of a proposed bill that collapsed earlier this month.
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Rating agency cites elevated underwriting results from convective storms, cat events in core states of operation.
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Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.
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Competing forces of loss cost inflation and mixed rate action yield uneven trajectories for the largest commercial lines.
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European and Bermudian reinsurers are expected to be the most favorably affected by the current environment.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.
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The pressure on catastrophe terms and conditions seen at the January 2023 renewals will likely not be repeated as renewals get more orderly in 2024.
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