Headlines
Global commercial insurance prices increased 15% in the third quarterThe rates of increases in many lines moderated, however, even though it was the 16th consecutive quarter of increases. The one exception was the U.S. where rates increased by 14%, up from 12% in the second quarter, driven by “substantial” increases in cyber insurance rates and a moderate increase in property/casualty rates.
The reinsurance industry faces increased uncertainty over inflation, cyber liability and other issues heading into 2022. More uncertainty in the world in general is leading to some insurers pulling back capacity and questions over how the industry’s capital should be deployed.
Reinsurers are increasingly relying on third-party capital to support their retrocession needs, in which they transfer risks they have assumed to other counterparties.
Commercial airlines are experiencing an uneven recovery out of the pandemic and early indicators point to a similarly variable experience when it comes to their upcoming insurance renewals.
Preparing for and responding to wildfire risk to help protect homes and business owners is more critical than ever. Here are the top things insurers should do to better prepare for Wildfire.
The study's researchers report that based on the rate that dry air sucks up moisture, climate change is essentially two-thirds to 88% responsible for the conditions driving the region's wildfire woes.
Hundreds of little robots–knee-high and able to hold around four large pizzas–are now navigating college campuses and even some city sidewalks.
The Sacramento Fire Department is set to begin using virtual reality simulations of a fire, a vehicle extrication and a ladder climb as a recruiting tool.
