Triple-I Blog | Will the D&O market conditions remain favorable? Allianz report says 2024 will bring its share of challenges.
Several global challenges pose a significant threat to maintaining soft market conditions for Directors and Officers (D&O) liability coverage, according to the most recent report on the sector by Allianz. A list of salient risks and trends to monitor during 2024 spans various areas, including: Macroeconomics, Geopolitical, Generative AI (GenAI), Environmental, Social, and Governance (ESG), […]
Triple-I Blog | Evolving Risks Demand Integrated Approaches
Even as the Smokehouse Creek Fire – the largest wildfire ever to burn across Texas – was declared “nearly contained” this week, the Texas A&M Service warned that conditions are such that the remaining blazes could spread and even more might break out. “Today, the fire environment will support the potential for multiple, high impact, large wildfires that […]
Triple-I Blog | Auto Insurers Contend With Rising Costs
By Max Dorfman, Research Writer, Triple-I Auto premiums continue to increase as rising labor and material prices, alongside natural disasters, are forcing insurers to contend with significant losses. As Triple-I previously found in its January report, Insurance Economics and Underwriting Projections: A Forward View, “commercial auto underwriting losses continue, with a projected 2023 net combined […]
Red Sea strikes: How do you insure ships in a war?
Red Sea strikes: How do you insure ships in a war? | Insurance Business America Marine Red Sea strikes: How do you insure ships in a war? Premiums have risen very steeply “We’re insuring on a war basis, both the hull and the cargo,” said Andrew McMellin (pictured above). Weeks of Houthi attacks on Red […]
James River files suit to enforce reinsurance sale
James River files suit to enforce reinsurance sale | Insurance Business America Reinsurance James River files suit to enforce reinsurance sale SPA has led to troubles for the group, including a notable loss in its Q4 results Reinsurance By Kenneth Araullo Bermuda-based James River Group has initiated a lawsuit against Fleming Intermediate Holdings, a portfolio […]
A fight for capital and capacity – emerging risks in the construction sector
A fight for capital and capacity – emerging risks in the construction sector | Insurance Business America Risk Management News A fight for capital and capacity – emerging risks in the construction sector “Underwriters are becoming more demanding” Risk Management News By Kenneth Araullo The construction industry is facing a unique set of challenges in […]
Triple-I Blog | NAIC, FIO to Collaborate on Data Collection Around Climate Risk
When the U.S. Treasury Department’s Federal Insurance Office (FIO) announced in December 2022 that it was considering a new data-reporting mandate for certain property/casualty insurers, it raised red flags for insurers and policyholders. In response to a request for comments on the proposed data call, Triple-I told FIO the requested data would be duplicative, could lead to misleading conclusions, […]