insurance

Despite a costly end to the 2023 calendar year from severe weather and catastrophes, Australian insurer Suncorp has said that the full limits remain available from all of its private reinsurance coverage.

Presenting to the Florida House Insurance and Banking Subcommittee yesterday, Tim Cerio, the CEO of Citizens Property Insurance Corporation, said that depopulation efforts are expected to accelerate this year, while the ultimate goal is to reduce the policycount to around 400,000.

There are now only two weeks left until our upcoming insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024 and spaces are now running low, so please register soon if you want to join us.

Insurance and reinsurance broker Aon expects the industry faces hundreds of millions in losses from recent windstorm events in Europe, as well as winter storms and severe weather in the United States.

Insurtech Floodbase, which acts as a data provider and reporting agent for parametric risk transfer arrangements, is set to integrate 24/7, all-weather synthetic aperture radar (SAR) data into its flood solution, enhancing the coverage and granularity which can make parametric flood insurance and risk transfer triggers more accurate.

The insurance industry loss estimate from the severe storms that affected eastern Australia through the Christmas and New Year period, as well as from the remnants of tropical cyclone Jasper, has been initially estimated at $743 million, by the Insurance Council.

A few signs emerged at the recent January 1st 2024 reinsurance renewals that bode well for protection buyers as we move through this year and into the next, as broker Aon highlighted that appetite is returning for some of the more challenged products and areas of the tower.

Data-driven cyber underwriting company Envelop Risk has announced the launch of a third-party investor backed special purpose arrangement (SPA) vehicle at Lloyd’s that will underwrite cyber reinsurance.

The insurance industry loss from October’s European windstorms Babet and Aline is now estimated some 34% higher at €683 million by catastrophe data aggregator PERILS AG.

There are now over 300 attendees registered for our upcoming insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024, with the global ILS community set to come together for a day of thought-leadership, discussion and valuable networking.