S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a report titled “Hurricane Milton: The Implications For Rated U.S. Insurers And …

Six months after a three-judge panel of the Delaware Supreme Court said an insurance agency deserved another shot at proving its claims of professional negligence against a law firm, the full state high court has agreed. On October 8, the …

The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate assessment of these risks is more important than ever. The …

Britain on Thursday launched a trade sanctions unit with new powers to penalize companies that fail to comply with restrictions on exporting services to Russia. Britain has announced sanctions on more than 20 billion pounds ($26 billion) worth of trade …

This edition of International People Moves details appointments at the insurance broker Miller and the insurer Markel. A summary of these new hires follows here. Miller Promotes Nagle to Head of Miller Europe, Succeeding Holloway Miller, the London-based independent specialist …

The Lloyd’s insurance market’s only product writing cover for the rescue of miners trapped underground has more than doubled its available cover from $10 million to $25 million with a launch of a new consortium led by AEGIS London. AEGIS …

The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …

The U.N. weather agency is reporting that 2023 was the driest year in more than three decades for the world’s rivers, as the record-hot year underpinned a drying up of water flows and contributed to prolonged droughts in some places. …

Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …

The Lloyd’s of London market is undermining climate action and should impose binding rules to prevent insurers supporting fossil fuel expansion, NGO Reclaim Finance said on Wednesday. Some European insurers, including Generali and Zurich, have imposed restrictions on underwriting for …

GSK has agreed to pay up to $2.2 billion to settle most pending U.S. state court lawsuits claiming that a discontinued version of the heartburn drug Zantac caused cancer, the company announced on Wednesday. The settlement with ten plaintiffs’ law …

Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …