Insurers to face millions in losses following severe storms in Texas – report

[ad_1] Umbrella and excess coverage, along with commercial auto, saw the most significant increases [ad_2] Source link

[ad_1] For the year ending December 31, 2024, Beazley achieved a record profit before tax of $1.423 billion, marking a 13% increase from the $1.254 billion recorded in 2023. This growth was underpinned by a 10% rise in insurance written premiums, totaling $6.164 billion, up from $5.601 billion in the previous year. [ad_2] Source link

[ad_1] If you’ve ever worked with an independent insurance agent, you’ve likely heard the phrase, “subject to underwriting approval.” But what does that really mean—and who is the underwriter making those decisions? An insurance underwriter is the person responsible for evaluating risk and determining whether an insurance company can offer you coverage, under what conditions,…

[ad_1] “In times of economic uncertainty, having trusted insurance partners that are there to be with you through the good times and step in during the bad times is more important than ever,” said Graham Topol, co-founder and co-CEO of MGT Insurance. “We take our role very seriously — it’s more important for us to…

[ad_1] As of Sunday, maximum sustained winds were near 40 mph, with some strengthening possible in the next 48 hours. However, the NHC said the storm posed no immediate threat to land, reducing the risk of property damage and insurance claims. Meteorologist Phil Ferro noted that Fernand “could get better organized by Monday, but should weaken…

[ad_1] The Australian Reinsurance Pool Corporation (ARPC), for example, was formed in the aftermath of 9/11, when commercial terrorism coverage became scarce. It offers reinsurance for losses related to declared terrorist incidents affecting commercial property, business interruption, and liability. [ad_2] Source link