Market News
Lloyd's, London Market Insurers Partner with Technology Provider
Lloyd's and London market insurance companies have partnered with DXC Technology to support the goals set out in the Future at Lloyd's Blueprint Two to build the world's most advanced digital and technology-led insurance marketplace. The arrangement followed months of discussions, product development, and early solution workshops. Read More
US Cyber Insurers Taking Action in Response to Spike in Claims
US property and casualty (P&C) insurers writing cyber insurance are responding to spikes in cyber claims by taking significant pricing and underwriting actions, according to Fitch Ratings. The P&C industry's cyber-insurance direct written premiums increased 22 percent in 2020 to more than $2.7 billion, according to Fitch, reflecting an expanded demand for coverage. Read More
Survey Finds Many Organizations Overlooking Impact of Emerging Risks
Despite widespread agreement among many large and midsized organizations about the threats posed by a variety of emerging risks, the vast majority of those organizations continue to overlook those risks' potential impact on their businesses, according to Marsh. That conclusion is found in the inaugural "Marsh Risk Resilience Report." Read More
Increasing Cyber Losses Could Lead Insurers To Rethink Strategies
Growth in cyber-insurance premiums has been outpaced by an even greater increase in claims, A.M. Best notes in a new commentary, with many cyber insurers now recognizing the significant risk in the coverage line. The increase in ransomware attacks could lead cyber insurers to rethink their cyber-insurance strategies. Read More
US Property-Casualty Reinsurer Net Premiums Grew during First Quarter
A group of 17 US property-casualty reinsurers wrote $17.9 billion in net premiums during the first quarter of 2021, up from $16.5 billion during the same period in 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America. Read More