Market News
Inflation, Worsening Driving Behaviors Increase Auto Insurer Losses
Inflation and continuing deterioration in driving behaviors are combining to pressure auto insurers, according to the American Property Casualty Insurance Association (APCIA). The highest inflation in 40 years has contributed to insurance claim costs rising faster than the underlying consumer price index, outpacing increases in premiums, the APCIA said. Read More
New Tool Aims To Allow Real-Time Reinsurance Strategy Optimization
Guy Carpenter has launched a new tool aimed at supporting the structuring and optimization of reinsurance strategies in real time. MetaRisk Live allows clients to instantly evaluate the impact of changes to their reinsurance structures, supporting a better understanding of buying decisions, a Guy Carpenter statement said. Read More
ESG Considerations Seen Increasingly Influencing Insurers' Strategies
Insurers' underwriting and investment strategies will be increasingly influenced by environmental, social, and governance (ESG) considerations, according to Fitch Ratings. In a new report, "Global Insurance through an ESG and Sustainability Lens," Fitch said that evolving strategies could reshape some insurers' credit profiles, potentially affecting their credit ratings. Read More
Cyber-Risk Awareness Remains, but Survey Finds Signs of Complacency
While organizations remain rightly concerned about cyber threats as the exposure grows and evolves, a recent report suggests that there is a certain worrisome level of complacency around cyber-risk management and resilience efforts. The Beazley survey found the percentage of respondents listing cyber as the top technology risk decreasing. Read More
Strategic Risk Solutions Expands into France with New Paris Office
Independent insurance company manager Strategic Risk Solutions (SRS) has expanded into France with the opening of a Paris office. In addition to the Paris office, SRS Europe currently has offices in Guernsey, Ireland, Luxembourg, Malta, and Switzerland. SRS also has company representation in the Netherlands, Sweden, and the United Kingdom. Read More