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Property

 

 

Perils increases Australia Christmas storms loss estimate to A$1.6bn

Storm affected Victoria, New South Wales and Queensland last December

Australia Property

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

India WR Berkley

Climate change drives US insurance crisis, senate committee finds

Budget committee analysis warns market strain could spread to new states

United States Climate change

Regulators call for EU reinsurance fund

Private-public reinsurance facility would ease pressure on property market, according to joint Eiopa/ECB proposal

Europe Property

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

Europe Property

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'

United States Property

Florida clears three insurers to assume up to 160,000 Citizens policies

Depopulation programme for the state’s last resort property insurer continues

United States Property

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

International Climate change

New York passes new law on parametric insurance

Excess line brokers may sell parametric cover under legislation signed last week

United States Property

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

United States Property

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’

International United States

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

United States Property
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