Latest insurance losses news
Cali wildfire reinsurance rates could rise as much as 70%: S&P
The 2017 and 2018 wildfires have led to double-digit rate rises, reduced capacity and a more cautious attitude from reinsurers.
Allstate pegs July cat losses at $235mn
The carrier also saw some adverse reserve development from a May weather event.
Major losses in H1 half of average at $19bn: Swiss Re
Insured losses from catastrophes fell from $26bn last year.
Sompo International Q1 earnings rise 16% on investment income
Reserve strengthening for prior-year catastrophes lifts the overall loss ratio, while specialty line earnings improve.
Litigation financing is driving up GL costs: Liberty Mutual
More than half of attorneys surveyed by the carrier said litigation finance has prolonged the time it takes to settle losses.
Aon says insurers to cover bulk of $2bn US July storm losses
Insurers have paid out $300mn for Hurricane Barry so far, according to the broker.
‘Fraud will continue’ in Florida despite AOB reform: Heritage’s Lucas
Heritage was one of several Floridian carriers that experienced a surge in assignment of benefits (AOB) claims before 1 July.
FHCF will pick up ‘vast majority’ of Irma loss development: Universal
The carrier’s gross loss from the hurricane has now increased to $1.1bn.