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A claim on that scale would test the market in ways it has never seen. -
AI was the hot topic throughout the InsurTech Insights event.
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There is frustration in the market that remediation work has been squandered.
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Hard-won profitability has given carriers room to salt away reserves.
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Sources cited numerous issues with how collateral protection insurance was designed.
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Hiscox, Beazley and Lancashire all delivered one-off capital returns while swerving casualty issues.
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DDM is due to be removed as a core central service on 13 September.
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On average, risks are being placed in a range of flat to up 5%.
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Attention is fixed on how competition will impact pricing in H2.
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CEO John Neal has ambitions to pull in more major insurers, E&S players and captives.
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Rate increases have accelerated further after major losses in 2023.
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Underwriters are pushing for rate rises, but competition is increasing.
