Property
Perils increases Australia Christmas storms loss estimate to A$1.6bn
Storm affected Victoria, New South Wales and Queensland last December
Berkley Insurance cleared to establish branch office in India
Commercial insurer continues expansion in the region with branch office in the Gujarat International Finance Tec-City
Climate change drives US insurance crisis, senate committee finds
Budget committee analysis warns market strain could spread to new states
Regulators call for EU reinsurance fund
Private-public reinsurance facility would ease pressure on property market, according to joint Eiopa/ECB proposal
Perils raises central Europe and Italy flood loss estimate to €2bn
Most losses from the September flood event occurred in Austria, Czechia and Poland, followed by Italy and Slovakia
Safeco to exit California condo and rental insurance market
Liberty Mutual subsidiary says it is 'building a sustainable business' in California by 'simplifying its product offering'
Florida clears three insurers to assume up to 160,000 Citizens policies
Depopulation programme for the state’s last resort property insurer continues
The rich can learn from the vulnerable about climate risk
V20 countries have lost one-fifth of their wealth because of climate-related losses over the past two decades
New York passes new law on parametric insurance
Excess line brokers may sell parametric cover under legislation signed last week
Lockton launches global parametric insurance practice
US-based broker says need for supplementary insurance solutions is growing amid increase in hurricanes, wildfires and other natural disasters
Moody’s raises global P&C outlook to stable
Rating agency expects personal lines price increases will be sufficient to offset rising claims costs, while commercial lines profitability to remain ‘strong’
Rule takes effect for California insurers to use catastrophe modelling in rate-setting
New regulation part of insurance commissioner’s Sustainable Insurance Strategy to increase availability of coverage in wildfire-exposed areas of the state
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