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There is a growing disconnect between risk and pricing in the class. -
In North America, the median W&I claim payment in 2024 was $5.5mn, the highest on record.
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David Turner previously spent more than 30 years at Amlin.
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Errors and omissions claims made up 55% of all notifications, continuing a five-year trend.
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Although US pricing is improving there is pressure in other geographies.
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The firm believes UK support for policyholders is under-served compared with the US.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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Air India has a multi-year insurance arrangement in place.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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The Beazley CUO said geopolitics would determine cyber market pricing.
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Coverage has broadened while limits have increased, the broker said.
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Western insurers do not insure Iranian risks, with the country subject to sanctions.
