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RSUI’s Leonard defends wholesalers from cost critics

RSUI’s president and CEO David Leonard has sought to dispel the “myth” that the cost of doing business with the excess and surplus lines market is higher than the retail sector.

Dan Ascher, 14 September 2017
Harvey expected to cost NFIP $11bn

Hurricane Harvey will probably land the National Flood Insurance Program (NFIP) with $11bn of losses, mostly in Texas, according to the body’s chief administrator.

Ted Bunker, 14 September 2017
FedNat leads Floridians higher in NY trading

Federated National led an advance by Florida-focused insurers in New York trading today, climbing 8.3 percent a day after disclosing expected losses from Hurricane Irma.

Ted Bunker, 13 September 2017
Irma insured loss forecast at $25bn: KCC

The modelling group's estimate excludes crop claims and losses covered by the state flood programme.

Ted Bunker, 13 September 2017
Harvey and Irma to aid reinsurer pricing power: Buckingham

Hurricanes Harvey and Irma could strengthen the pricing power of reinsurers including Validus, RenaissanceRe and Aspen, according to Buckingham Research Group, which initiated its P&C coverage with a positive outlook on the sector and buy recommendations on those stocks.

Laura Board, 13 September 2017
Pool Re cleared to add cyber cover

State-backed terrorism reinsurer Pool Re has gained the UK government's backing in principle to remove a cyber exclusion from its coverage and expects to offer protection for cyber events from 1 April next year.

Laura Board, 13 September 2017
QBE looks to offload $500mn US commercial auto book

QBE is searching for a home for a book of US commercial auto liabilities, The Insurance Insider understands.

Dan Ascher, 13 September 2017
Swiss Re and Catalina face off for Zurich German med-mal book

Catalina and Swiss Re are the final bidders in the closely watched process for Zurich's EUR400mn ($480mn) German legacy medical malpractice book, The Insurance Insider understands

Catrin Shi, 13 September 2017
Alleghany sells workers' comp carrier

Alleghany Corporation has agreed the sale of Pacific Compensation Insurance to CopperPoint Mutual for $150mn in cash.

13 September 2017
Harvey-Irma loss uncertainty leaves US property market in flux

Uncertainty over the likely industry losses from hurricanes Harvey and Irma has left the US property market in a state of flux as primary and reinsurance carriers attempt to unravel exposures and assess the potential implications for pricing, terms and conditions

David Bull, 13 September 2017

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