Casualty/GL

Zurich North America has placed a new consolidated casualty quota share that pays a ceding commission of 27 percent, The Insurance Insider can reveal.

Higher-attaching UK motor liability programmes experienced rate rises of as much as 100 percent at 1 January, as uncertainty about Ogden discount rate reforms made for a challenging renewal, according to Willis Re.

Reinsurance pricing reflects market fundamentals. And that is the story of this renewal to date.

In common with their property cat colleagues, US casualty reinsurance underwriters are suffering a late 1 January renewal, with most deals still awaiting firm order terms as of early December.

Casualty reinsurers are talking about brokers and clients taking a more "realistic" approach to dynamics in a sector where margins have been squeezed to the point of being unsustainable on many quota share deals.

Ogden rate uncertainty is giving reinsurers ammunition on motor excess of loss (XoL) renewals after intervention from a committee of lawmakers threatened to delay promised reforms.

Workers' compensation insurers accounted for about a quarter of the 354 US P&C carrier impairments recorded over the past 17 years, according to AM Best data.

Workers' compensation insurers accounted for about a quarter of the 354 US P&C carrier impairments recorded over the past 17 years, according to AM Best data.

Electricity supplier Edison's statement last week that it believes its facilities are being investigated as a possible cause of the ongoing Southern California wildfires has raised the possibility of another painful blow for casualty underwriters.

Former Allied World underwriters have launched a transactional liability specialist MGA named Brockwell Capital, The Insurance Insider has learned.

Insurers and legacy carriers could see increased claims on old liability policies as a result of litigation from workers' exposure to diesel fumes.

The average large product recall claim is now around EUR10.5mn ($12.4mn), with automotive recalls generally costing nearly 20 percent more than that, according to analysis by Allianz Global Corporate & Specialty (AGCS).