You searched for homeowners - Page 78 of 83

California insurers told to honour wildfire-related mudslide claims

30th January 2018

California Insurance Commissioner Dave Jones has issued a formal notice to all property and casualty insurers as a reminder to honour mudslide, landslide, and debris flow claims if the wildfire can be shown to be the cause. "Californians have suffered greatly with all of the devastating losses from wildfires that struck ... Read the full article

Radian enhances reinsurance at renewal after proposed changes to PMIERs

18th January 2018

Radian Group subsidiary, Radian Guaranty, has announced enhancements to its Single-Premium Mortgage Insurance (MI) Reinsurance Program, in response to proposed changes to Private Mortgage Insurer Eligibility Requirements (PMIERs). The enhancements include an increased cession of business for its single-premium MI quota share reinsurance arrangement, which it entered into in 2016, from 35% to ... Read the full article

Growing prevalence of risk-based capital regimes to drive reinsurance demand: Aon Benfield

17th January 2018

Aon Benfield's 2018 reinsurance market outlook forecasts a continued modest upturn in reinsurance demand globally driven by the growing prevalence of risk-based capital regimes and emerging areas of risk transfer. Reinsurance demand could also benefit from modest global economic growth alongside heightened risk awareness following a record-setting catastrophe loss year. Additional demand ... Read the full article

Verisk’s ISO business expands personal lines flood insurance programme

12th January 2018

Verisk has launched a new personal lines flood insurance program designed to make flood coverage widely available to homeowners anywhere in the United States through its ISO business. "The floods of recent years have highlighted the inadequacy or complete lack of coverage for many Americans, including those who didn't think they ... Read the full article

InsurTech Hippo partners with Spinnaker to expand U.S. smart home cover

11th January 2018

California-based InsurTech firm Hippo announced a strategic partnership with Spinnaker Insurance Company, with the ambitious aim to expand its U.S. presence and smart home cover to over 60% of the population by the end of the year. The partnership - Spinnaker's first with an InsurTech - enables Hippo to leverage Spinnaker's ... Read the full article

A.M. Best maintains stable outlook for personal lines segment

9th January 2018

A.M. Best has maintained its stable outlook for the personal lines segment as it expects companies to be able to effectively navigate challenging market dynamics, despite the high level of catastrophe losses in 2017. 2017 was a challenging time for personal lines players, as both auto and homeowners' lines suffered from ... Read the full article

U.S. commercial P&C rates up by an average of 2% in Q4: MarketScout

8th January 2018

Analysis from MarketScout reveals that U.S. commercial property and casualty (P&C) insurance rates increased by an average of 2% in the fourth-quarter of 2017, compared with a 1% increase in the previous quarter and a 1.3% decline in Q4 2016. After the devastating impacts of third-quarter 2017 catastrophe events, underlined by ... Read the full article

AmWINS to acquire personal lines specialty MGA Seacoast Brokers

3rd January 2018

Specialty insurer AmWINS Group has reached an agreement to acquire personal lines specialty MGA Seacoast Brokers, LLC, with the transaction due to close following regulatory approval. Steven DeCarlo, Chief Executive Officer of AmWINS, said; “the addition of Seacoast to our AmWINS Access division significantly increases our personal lines products and services. “Seacoast’s ... Read the full article

California wildfires could trigger higher reinsurance rates: A.M. Best

22nd December 2017

Lines of business impacted by the California wildfires may see an uptick in pricing which could trigger higher reinsurance costs as pricing for perils such as smoke, ash, and brush fire may have to be re-evaluated along will terms and conditions for replacement cost values and living expenses, according to ... Read the full article

Australian government won’t intervene on cyclone re/insurance

19th December 2017

The Australian Turnbull Government has said that it "will not intervene directly in the insurance market" as a way to reduce insurance premiums in regions at high risk of impact from tropical cyclones, a Minister said yesterday. Under consideration had been the establishment of a mutual cyclone reinsurance company, backed by ... Read the full article

Canopius agrees to cede risks to Flood Re

14th December 2017

Global specialty insurer and reinsurer, Canopius, has agreed to cede risks to Flood Re, the UK's Government-backed flood reinsurance scheme. The agreement aims to enable UK homeowners living in flood prone areas with access to more effective insurance solutions. The UK Government has pledged support of the Flood Re scheme until 2039, ... Read the full article

U.S. property & casualty personal insurance outlook stable for 2018: Moody’s

14th December 2017

The U.S. property and casualty (P&C) personal insurance industry has been given a stable outlook for 2018, with carriers’ strong capitalisation and adequate earnings capacity having offset losses from a heavy catastrophe year. "Insurers' risk management and capital resources are holding up well against Hurricanes Harvey, Irma and Maria, and the ... Read the full article

2017 California wildfire season could cost $180 billion: AccuWeather

12th December 2017

AccuWeather has warned that the 2017 California wildfire season could result in an economic cost of up to $180 billion, as the so-called Thomas wildfire adds to the expected $10 billion+ insured loss from the October California wildfires. Founder, President and Chairman of AccuWeather, Dr. Joel Myers, said; "Even before this spate ... Read the full article

Florida market forecast for growth into 2018: KBW

11th December 2017

Florida (FL) homeowners insurers’ underwriting margins are forecast for expansion next year, with assignment of benefits (AoB) related loss inflation expected to stabilise and Florida insurers passing reinsurance rate increases onto policyholders, according to Keefe, Bruyette & Woods (KBW). Although Florida insurers will see reinsurance rates rise, KBW said they can pass ... Read the full article

After losses, primary carriers may use more reinsurance: Fitch

6th December 2017

Following the major catastrophe losses of recent months in the United States, Caribbean and Mexico, primary insurance carriers may be inclined to use an increased amount of reinsurance to manage their exposures. Fitch ratings believes that an increased demand for catastrophe and property reinsurance protection could be one of the outcomes ... Read the full article