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KCC estimates Winter Storm Elliott insured losses will hit $5.4bn

KCC is predicting insured losses across 42 states, with the worst affected being Texas, Georgia, Tennessee, North Carolina and New York.

Aisling Finn, 29 December 2022
Cat bond issuance in Q4 is slower than usual owing to Hurricane Ian

Cedants who came to market in Q4 settled for smaller tranche sizes in recognition of limited capacity.

Liz Bury, 29 December 2022
Winter Storm Elliott losses ‘nowhere near’ Uri claims: modelers

The 2021 storm’s extreme damages were led by prolonged power failures, whereas the recovery from Elliott has been faster.

Kyoung-son Song, 29 December 2022
European cyber mutual Miris gets green light from regulator

Companies including Airbus and Michelin have teamed up to pool cyber risk amid capacity constraints in the commercial market.

Samuel Casey, 28 December 2022
P&I clubs to cancel Ukraine war cover from 1.1 amid reinsurers’ retreat

Specialty reinsurers are insisting on exclusionary language in order to clear their books of further exposure to the conflict.

Samuel Casey, 28 December 2022
Zurich CEO Greco says cyber attacks will become ‘uninsurable’: FT

The CEO called for the formation of public-private partnerships, akin to those in place for terrorism or earthquakes, to tackle systemic cyber risks.

Samuel Casey, 28 December 2022
Over 60 dead as US stricken by historic blizzards

The city of Buffalo in New York state was worst impacted, but power was also knocked out in areas stretching from Maine to Seattle.

Samuel Casey, 28 December 2022
1.1 renewals: What we know and what is still to be determined

Reinsurers have successfully pushed hard on T&Cs but, as capacity begins to fall into place, there are still many unanswered questions for this renewal.

Fiona Robertson, 23 December 2022
UK government appoints Magnus as independent adviser on ministers’ interests

The adviser is also chair of Pantheon International and The City of London Investment Trust.

Rachel Dalton, 23 December 2022
Luxury goods group Liberty latest to sue over Covid BI aggregation

Bowling chain Hollywood Bowl is also suing Liberty Mutual for Covid-19 BI losses.

Samuel Casey, 23 December 2022

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