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Uncertainty around court outcomes is almost forcing carriers to settle claims.
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In Partnership With Swiss ReJens Melhorn, Head of Property Treaty for EMEA at Swiss Re discusses key reinsurance topics, including global conflicts, natural catastrophe trends, and the growing need for public-private partnerships to keep insurance affordable.
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Areas with growing demand and complexity include natural catastrophe and cyber, it said.
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Cedants and brokers called for long-term relationships as reinsurers addressed loss creep.
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Marko Ninkovic, Head of Claims Specialty at Brit, explains the growing challenges of war risk claims and modern piracy, at the International Association of Claims Professionals Conference in Orlando.
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The company said $13bn-$22bn will come from wind damage.
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Earlier this week, RMS estimated insured losses for Helene and Milton at $35bn-$55bn.
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Randy Fuller, Head of North America Property at Guy Carpenter, discusses market stability, hurricane impacts, and the evolving role of claims professionals on October 1st, 2024.
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The catastrophe loss estimate for September totalled $889mn, pre-tax.
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A canvassing of the market showed some bifurcation on the necessity of a government backstop.
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HCI is estimated to incur a net expense of $125mn for Milton in Q4 2024.
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Most of the insured loss was attributable to wind.