Property

The impacts on insurers from Hurricane Ian are likely to be material but manageable, according to a report from global rating agency KBRA.

Live from Target Markets in Scottsdale AZ, Meg Green talks to Ryan Jesenik about the future of MGUs and the fallout of Hurricane Ian.

Live from Target Markets in Scottsdale AZ, Meg Green talks to Derek Schiavone, president of SUIS, a division of Specialty Program Group, about filling an important gap in the market for insuring condos, apartment buildings and commercial buildings.

Live from Target Markets in Scottsdale AZ, Meg Green talks to Steve Dresner about growth in the MGA space, whether it's sustainable, and the impact of property cat developments on reinsurers.

As insurers move towards automation and further digitisation of their underwriting processes, accurate data and sophisticated analytics are becoming increasingly important.

"We are being very careful about how we allocate our natural catastrophe capacity," says Dunleavy.

Join us, in partnership with Markel, at 10:30 ET, Oct. 26 for a free webinar

As inflation, the war in Ukraine, climate change, and the lingering effects of the pandemic continue to cause problems for global supply chains, insurers and their clients are likely to come under increasing pressure to reconsider long-established methods of procurement and delivery.

With the 2022 Atlantic hurricane season entering its most active period, property insurers covering Florida face a host of market, weather, and regulatory worries, according to global rating agency KBRA.

Increased frequency and severity of secondary perils, complicated by supply chain disruptions and inflation, are putting pressure on property insurers.

As climate change increases the frequency of extreme weather events, there is a greater risk of coastal and inland flooding and an increasing risk of structural damage. Hurricanes pose a significant threat in parts of the US, and as their occurence and severity increase property losses will continue to rise. The insurance industry has a key role to play in reducing losses from catastrophic risks, with customers now more than ever turning to insurers for expert advice.

All insurtechs have the potential to change the industry, but Insider Engage examines three to watch: Arbol, ICEYE and EigenRisk.

Applications now being accepted for the Inside P&C Honors 22

Insurers can take steps including viewing flood as a primary peril, writes Jason Richards, CEO of UK & I for Swiss Re.

Risk managers need to continue to review and appraise the insured value of their properties to keep up with changing conditions, said Patrick Collins, managing director at Kroll.

As construction costs continue to rise, as many as 75% of properties may be underinsured, said Lori Flemming, managing director of fixed asset advisory services for Kroll.

Jonathan Monks, Sompo International’s EVP and Head of Business Development for North American Insurance, said factors including inflation are driving rate across the market. He spoke with Insider Engage at RIMS 2022 in San Francisco.

Brazil is a country famous for its biodiversity. These days, one can even find a really rare species there: insurance underwriters that must fight tooth and nail for a clients’ business.

Some products have already peaked in terms of pricing, while others are still rising, said Jack Kuhn, president, Westfield Specialty.

Property is dominating discussions among insurers and reinsurers, even spilling into casualty talks, said Paul McKeon, President of Regional Business Units for TransRe. He recently spoke with Insider Engage Managing Editor Meg Green about challenges in the marketplace. To view the video interview, click below, or read on to see an edited transcript of the conversation.

North American property/casualty reinsurance markets are growing increasingly complex, with continued underwriting discipline needed, said Jason Busti, North America president for AXIS Re.

Noticeable changes in global adverse weather have brought climate change to the fore in (re)insurers’ analysis to risk, says Aon’s Steve Bowen.

Hemant Shah, the co-founder of Archipelago, says working directly with large commercial property risks has given him a new perspective on the insurance industry.

How Markel has found effective supply chain management can reduce overall claims costs.

CrossCover Insurance Services is targeting middle-market excess and surplus property commercial business in the United States.