Climate risks, trade tariffs and AI pressuring property claims: Sedgwick
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New report highlights mounting challenges for re/insurers and intermediaries
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Generali posts growth across all segments in Q1 update
[ad_1] P&C delivered an 18.7% rise in its operating result to €1.03 billion. This was attributed to robust premium growth and improved margins. The combined ratio improved to 89.7%, down from 91.0% in Q1 2024, with both loss and expense ratios contributing to the result. The undiscounted combined ratio also improved, decreasing to 92.0% from…
Progressive challenges duty to cover fatal Florida trucking crash
[ad_1] Here’s what’s in the complaint: Progressive is providing a defense for Lee Timber Company, Inc. after a crash that happened on or about February 19, 2024. According to the filing, Ramon Camejo, described as an employee or agent of DTA Trucking, LLC, was driving a 2009 Freightliner tractor owned, leased, or controlled by DTA….
Skyward CEO ends ties with litigation finance firms over social inflation concerns
[ad_1] In April, Georgia enacted significant tort reform through Senate Bills 68 and 69, marking the most comprehensive overhaul of the state’s civil litigation system in nearly two decades. Gov. Brian Kemp signed these bills into law, following a legislative session that prioritized legal system reforms aimed at reducing litigation costs and stabilizing insurance premiums. …
Marsh enhances Cyber Echo, offering more coverage for cyber risks
[ad_1] Cyber capacity After a period of significant expansion, the cyber insurance market experienced a modest contraction of 2% in 2023, indicating a stabilization following previous rapid growth. This stabilization suggests that, while the market has matured, capacity has remained relatively sufficient to meet demand. [ad_2] Source link
Survival isn’t about fleeing risk – it’s about diversifying
[ad_1] At the same time, UFG has embraced technology to navigate this turbulent landscape. Advanced catastrophe modeling, in particular, has reshaped the company’s ability to assess risk. “We’ve improved data capture and integrated new CAT modeling tools, allowing us to better analyze exposure and decide where we want to grow,” Salazar said. The models blend…
Waiting for the flip: Why product recall insurance demand isn’t surging – yet
[ad_1] Years of supply chain shocks, regulatory shifts, and rising brand risks led many to believe that recall insurance – especially for small and midsize manufacturers – was poised for a breakout. But Robert Balogh (pictured), executive vice president at Amwins, said the wave still hasn’t hit. “It really hasn’t yet,” he said. “That’s not…