Risk - Insurance Industry Brief

Zillow Listings Will Now Highlight Climate Risks, Insurance Info

Insurance Journal

SEPTEMBER 26, 2024

For-sale listings on Zillow will now feature detailed climate risk information for five key categories — flood, wildfire, wind, heat and air quality — along with insurance recommendations, according to the online real estate company. The climate risk data, provided …

Risk

Risk Insurance Insurer Insured

Economic Challenges, Cyber, and People Risks Top UK Businesses’ Concerns: Marsh

Insurance Journal

OCTOBER 11, 2024

Economic and financial challenges (43%), cyber threats (39%) and people-related risks (38%) are the top three concerns facing UK businesses over the next 12 months, according to new research by Marsh McLennan. The findings come from Marsh’s UK Business Risk …

Cyber

Cyber Risk

Western States Top Wildfire Risk Scores in New Analysis

Insurance Journal

SEPTEMBER 2, 2024

California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guidewire’s HazardHub data …

Risk

Risk Property Insurance Insured Insurance

Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers

Insurance Journal

SEPTEMBER 9, 2024

The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …

Risk

Risk Cyber Premium Insured

Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index

Insurance Journal

SEPTEMBER 25, 2024

For the fourth time in six years, cyber risk ranked highest as a concern for business leaders. In fact, this year cyber as a top concern reached an all time high, according to the 2024 Travelers Risk Index. Cyber was …

Cyber

Cyber Risk

Clashing Risk Predictions Cast Doubt on Black Box Climate Models

Insurance Journal

AUGUST 11, 2024

These tools can allow owners and investors to better anticipate risks of flooding, wind, wildfire and other disasters. Insurers have been among the adopters of climate-risk models, in a sign … Many companies offer detailed climate projections tailored to property-level precision.

Risk

Risk Insured Insurance Insurer

Unseasonal Winter Heat Across Australia Raises Wildfire Risks

Insurance Journal

AUGUST 22, 2024

Australia is facing elevated wildfire risks months ahead of the summer fire season, as an unusually warm winter scorches parts of the continent and threatens to set temperature records. Heat is forecast to bake vast areas of the country in …

Risk

Specialist Risk Group Acquires UK-Based Anthony James Insurance Brokers

Insurance Journal

AUGUST 20, 2024

Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of Anthony James Insurance Brokers, subject to regulatory approval. This latest acquisition further expands and strengthens SRG’s retail pillar, Specialist Risk … Financial details of the transaction were not disclosed.

Insurance Broker

Insurance Broker Broker Risk Insurance

Acquisition of UK’s Specialist Risk Group Completed by Warburg Pincus and Temasek

Insurance Journal

SEPTEMBER 30, 2024

Specialist Risk Group (SRG), the London-based specialist insurance intermediary, announced that its acquisition by Warburg Pincus, a global growth investor, and Temasek, the Singapore-based investment company, has been completed. With the necessary regulatory approvals now received, the partnership marks a …

Risk

Risk Broker-Agent Insured Insurance

Africa Specialty Risks Begins Operating as Lloyd’s Service Company

Insurance Journal

OCTOBER 4, 2024

Africa Specialty Risks (ASR), the pan-African and Middle East-focused reinsurance group, announced that has begun operating as a Lloyd’s service company. As a Lloyd’s service company, ASR’s UK based entity, Africa Specialty Risks Ltd. ASR Ltd.), is underwriting on behalf …

Risk

Risk Underwriting Underwriter

Understanding Builders’ Risk and Construction Insurance

Insurance Journal

AUGUST 14, 2024

Joe Tejeda, a Practice Leader from PCF Construction, provides a look at builders’ risk and construction insurance. This post is part of a series sponsored by PCF Insurance Services. The construction industry is a complex ecosystem with various stakeholders—each facing …

Risk

Risk Insurance Insurer Insured

UK’s Specialist Risk Group Acquires Motor Fleet MGA Capulus

Insurance Journal

SEPTEMBER 4, 2024

Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of Capulus, a specialist motor fleet managing general agent (MGA). Financial details of the deal were not disclosed. Based in Wales, Capulus’ team of 21 colleagues will join SRG’s …

Risk

Risk Agents Broker-Agent Insured

1 in 10 Tri-State Properties at High Flood Risk: New York Fed

Insurance Journal

OCTOBER 2, 2024

Research by the Federal Reserve Bank of New York finds that nearly one million houses and multifamily buildings in New York, New Jersey, and Connecticut—one in 10 properties in the tri-state area—are at high risk of flooding. These properties rank …

Risk

Risk Building

Parent of Risk Strategies and One80 Intermediaries Closes $1 Billion Financing Deal

Insurance Journal

AUGUST 23, 2024

Accession Risk Management Group, the parent company of specialty insurance brokerages Risk Strategies and One80 Intermediaries, reports it has closed a $1 billion incremental debt raise and refinancing. Accession Risk Management Group is a portfolio company of Kelso & Co., …

Risk

Risk Insured Insurance Insurer

Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains

Insurance Journal

SEPTEMBER 4, 2024

Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, improved pricing, more favorable terms and conditions, and improving investment income, according to a report published by S&P Global Ratings.

Risk

Specialist Risk Group Acquires Renewal Rights of London-Based Taxi Insurance Broker

Insurance Journal

AUGUST 30, 2024

Specialist Risk Group (SRG) announced the acquisition of the ongoing renewal rights of Morton Insurance Brokers, a specialist in private hire and taxi insurance across the UK since 1987. Financial details of the transaction were not disclosed. The acquisition strengthens …

Insurance Broker

Insurance Broker Broker Risk Insurance

Southern Water’s Credit Risk at Record High Amid Thames Water Woes

Insurance Journal

SEPTEMBER 30, 2024

Southern Water’s credit risk has soared to a record high in recent days as hedge funds scramble to protect themselves against the possibility of default at the UK water company. The curve on the utility firm’s credit default swaps is …

Risk

Risk Protection Liability Insured

Become an Attractive Risk for Underwriters

Insurance Journal

AUGUST 12, 2024

Insurance Carriers are reducing their appetite for risk and increasing premiums. This post is part of a series sponsored by TSIB. This means they are being much more selective in what they are willing to insure. If they are going …

Risk

Risk Underwriting Underwriter Insurance Carrier

More People Moving In Than Out of Counties With High Catastrophe Risk

Insurance Journal

AUGUST 8, 2024

Despite the dangers and expense associated with living in high-risk areas, large numbers of people are still moving to parts of America most impacted by wildfires, flooding and extreme heat. According to a new report from real estate company Redfin, …

Risk

Risk Personal Property

Bain Capital Insurance Backs Specialized Risk Financing Firm 1970 Group

Insurance Journal

JULY 31, 2024

Bain Capital Insurance has announced a capital investment in 1970 Group, a New York-based specialized risk financing provider to the insurance industry. 1970 Group offers expertise in structured financing, credit support and risk management. The company pioneered the concept of …

Risk

Risk Insurance Industry Insurance Insurer

Managing Management Liability Risk in Today’s Market

Insurance Journal

SEPTEMBER 1, 2024

But the segment faces growing risks from regulatory and technology-related exposures, making the quality … The management liability insurance segment has attracted a lot of new capacity in the last few years, and the increased competition has pushed rates down significantly.

Liability

Liability Risk Liability Insurance Insured

Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives

Insurance Journal

SEPTEMBER 3, 2024

As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations. Captive insurance, where companies create their own coverage vehicles, …

Risk

Risk Insured Insurance Insurer

Vermont Lags in Risk Management for Natural Disasters Including Flooding

Insurance Journal

SEPTEMBER 12, 2024

Vermont has failed to complete many actions in its five-year hazard mitigation plan aimed at reducing the risk from natural disasters such as flooding, according to a new report from the state auditor’s office. The plan is developed by Vermont …

Risk

Private Equity’s Insurance Bets Raise Risks, BIS Researchers Say

Insurance Journal

SEPTEMBER 17, 2024

Private equity firms have changed the business models of life insurers they invest in, posing risks that are more likely to materialize with higher interest rates, according to researchers at the Bank for International Settlements. Buyout firms channel the insurance …

Risk

Risk Life Insurance Insurance Insurer

Revolutionizing Flood Insurance with CoreLogic® Flood Risk Score

Insurance Journal

AUGUST 28, 2024

Rising floodwaters pose a significant threat to communities and economies worldwide, making flood insurance a vital component of risk management. However, accurately assessing flood risk for properties has been a … This post is part of a series sponsored by CoreLogic.

Risk

Risk Insurance Insurer Insured

Fresh Appetite for Risk Can Help Arrest Britain’s Downward Spiral, Think Tank Says

Insurance Journal

OCTOBER 10, 2024

Britain’s decade-long economic downward spiral could be reversed with a fresh appetite for risk that might help boost annual investment by a required 100 billion pounds ($131 billion) over the next decade, a leading think tank said on Friday. In …

Risk

Florida Peninsula MGA Changes Name to Windward Risk Managers

Insurance Journal

AUGUST 21, 2024

Florida Peninsula Managers, the managing general agency for Florida Peninsula Insurance and Edison Insurance, has officially changed its name to Windward Risk Managers, the name of the company that has managed it for years. The change comes a month after …

Risk

Risk Insured Insurance Insurer

Could Your Company’s Recruitment Practices Pose a Liability Risk?

Insurance Journal

JULY 14, 2024

As an insurance organization you understand risk management better than most businesses. You advise clients on how employment practices pose liability risks, but when is the last time you’ve thought about your own risks, particularly when it comes to hiring …

Liability

Liability Risk Insured Insurance

UK Faces High Wildfire Risk After Spell of Warmer Weather

Insurance Journal

AUGUST 6, 2024

Europe’s wildfire risks are extending as far north as the UK after a recent spell of hot weather. Parts of southeastern England, including areas around London, face high wildfire risks later this week, according to forecasts from Copernicus. Wildfires have …

Risk

Report: 2.6M Homes with a Cost of $1.3 Trillion at Moderate to Very High Risk of Wildfire

Insurance Journal

AUGUST 14, 2024

trillion are at moderate to very high risk of wildfire damage during the 2024 wildfire season, a new report shows. The 2024 CoreLogic Wildfire Risk … More than 2.6 million homes across 14 states with a total reconstruction cost of $1.3

Risk

Risk Damage

Navigating the Healthcare Data Landscape for Human Capital Risk Enhancement

Insurance Journal

AUGUST 8, 2024

PCF Health & Benefits Practice Leader, Al Marino, teamed up with Hugh O’Toole, CEO of Innovu, to discuss ways to navigate healthcare data for human capital risk enhancement. This post is part of a series sponsored by PCF Insurance Services.

Risk

Risk Insured Insurance Insurer

New York City Subway Workers at Risk, Federal Agency Warns

Insurance Journal

AUGUST 18, 2024

The agency that runs New York City’s subway system is putting track workers at risk by failing to follow its own safety rules, federal authorities said in an audit issued this week. The Federal Transit Administration said in a special …

Risk

People Moves: Risk Strategies Names Bagwell Commercial Lines Leader in West

Insurance Journal

JULY 21, 2024

Risk Strategies named Troy Bagwell commercial lines leader for the West region. Bagwell joins Risk Strategies from Panorama … Bagwell, who is based in Los Angeles, is responsible for building and executing the regional strategy for the commercial property/casualty business segment.

Commercial

Commercial Risk Commercial Property Building

Wildfire Risk Harms California Home Values, San Francisco Fed Study Finds

Insurance Journal

AUGUST 26, 2024

California’s wildfires are weighing on home prices more than in the past, and insurance availability does little to help in areas considered to be at higher risk, according to a Federal Reserve Bank of San Francisco study. “Our results suggest …

Risk

Risk Insured Insurance Insurer

UNC Launches Risk Management Institute with IAP’s Ursano Chair of Advisory Board

Insurance Journal

AUGUST 15, 2024

The University of North Carolina at Chapel Hill announced it is launching an Institute for Risk Management and Insurance Innovation, an interdisciplinary research and innovation center. “The new institute will conduct research that improves our understanding of society’s emerging financial …

Risk

Risk Insured Insurance Insurer

Defining Your Risk When Considering a Wrap-Up – Part 1

Insurance Journal

AUGUST 5, 2024

A Wrap-Up is an incredible tool that manages the risk presented by a construction project. This post is part of a series sponsored by TSIB. This tool also returns a significant part of the project cost back to your bottom …

Risk

EPIC Insurance Inks Deal to Provide Risk Management for Miami Dolphins, Stadium

Insurance Journal

SEPTEMBER 5, 2024

EPIC Insurance Brokers & Consultants, headquartered in San Francisco, is now the official provider of risk management services for the Miami Dolphins football team and Hard Rock Stadium. The deal, announced Thursday, will not put the EPIC patch on Dolphins’ …

Risk

Risk Insurance Broker Broker Insurance

Report: 2.6M Homes at Moderate to Very High Risk of Wildfire

Insurance Journal

SEPTEMBER 1, 2024

trillion are at moderate to very high risk of wildfire damage during the 2024 wildfire season, the 2024 CoreLogic Wildfire Risk Report shows. More than 2.6 million homes across 14 states with a total reconstruction cost of $1.3 The western …

Risk

Risk Damage

Secret Ratings Show US Regulator’s Concern on Banks’ Handling of Risks

Insurance Journal

JULY 24, 2024

A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter. In the …

Risk

Risk Cyber

Experts Say More Collaboration Needed for Critical Infrastructure Cyber Risk

Insurance Journal

AUGUST 4, 2024

Insurers continue to grapple with elusive and ever changing cyber risks in the critical infrastructure sector, and Matthew McCabe, managing director for Guy Carpenter’s Cyber Center of Excellence, said he sees a three-party system emerging between insurers, policyholders, and the …

Cyber

Cyber Risk Policyholder Insured

Business Moves: NFP, Clear Group, and Strategic Risk Group Complete 4 Acquisitions

Insurance Journal

JULY 26, 2024

Three brokers – NFP, Clear Group, and Strategic Risk Group – each announced acquisitions during July. In reverse chronological order, the acquisitions are listed as follows: NFP, the New York-based insurance broker and Aon subsidiary, announced on July 24 that …

Risk

Risk Broker Insurance Broker Broker-Agent

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Journal

SEPTEMBER 17, 2024

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

Risk

Risk Claim Marine Insurance

Global Reserve Managers Upbeat on Growth but Worry About Geopolitical Risks

Insurance Journal

JULY 10, 2024

An escalation in geopolitical conflicts is the biggest risk to the global economy, according to central bank reserve managers, who are generally positive about the world’s economic outlook, according to an annual survey released on Thursday. The UBS Asset Management …

Risk

Risk Insured Insurance Insurer

Symphony Risk Opens Austin Office, Names Burns President of Specialty Business

Insurance Journal

AUGUST 1, 2024

Symphony Risk Solutions announced it is opening an office in Austin, Texas to be led by Matt Burns, who was named president of the firm’s growing specialty business. As the leader of Symphony Build, Burns will oversee due diligence, evaluation, …

Risk

Risk Building

Zillow Listings Will Now Highlight Climate Risks, Insurance Info

Economic Challenges, Cyber, and People Risks Top UK Businesses’ Concerns: Marsh

Trending Sources

Western States Top Wildfire Risk Scores in New Analysis

Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers

Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index

Clashing Risk Predictions Cast Doubt on Black Box Climate Models

Unseasonal Winter Heat Across Australia Raises Wildfire Risks

Specialist Risk Group Acquires UK-Based Anthony James Insurance Brokers

Acquisition of UK’s Specialist Risk Group Completed by Warburg Pincus and Temasek

Africa Specialty Risks Begins Operating as Lloyd’s Service Company

Understanding Builders’ Risk and Construction Insurance

UK’s Specialist Risk Group Acquires Motor Fleet MGA Capulus

1 in 10 Tri-State Properties at High Flood Risk: New York Fed

Parent of Risk Strategies and One80 Intermediaries Closes $1 Billion Financing Deal

Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains

Specialist Risk Group Acquires Renewal Rights of London-Based Taxi Insurance Broker

Southern Water’s Credit Risk at Record High Amid Thames Water Woes

Become an Attractive Risk for Underwriters

More People Moving In Than Out of Counties With High Catastrophe Risk

Bain Capital Insurance Backs Specialized Risk Financing Firm 1970 Group

Managing Management Liability Risk in Today’s Market

Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives

Vermont Lags in Risk Management for Natural Disasters Including Flooding

Private Equity’s Insurance Bets Raise Risks, BIS Researchers Say

Revolutionizing Flood Insurance with CoreLogic® Flood Risk Score

Fresh Appetite for Risk Can Help Arrest Britain’s Downward Spiral, Think Tank Says

Florida Peninsula MGA Changes Name to Windward Risk Managers

Could Your Company’s Recruitment Practices Pose a Liability Risk?

UK Faces High Wildfire Risk After Spell of Warmer Weather

Report: 2.6M Homes with a Cost of $1.3 Trillion at Moderate to Very High Risk of Wildfire

Navigating the Healthcare Data Landscape for Human Capital Risk Enhancement

New York City Subway Workers at Risk, Federal Agency Warns

People Moves: Risk Strategies Names Bagwell Commercial Lines Leader in West

Wildfire Risk Harms California Home Values, San Francisco Fed Study Finds

UNC Launches Risk Management Institute with IAP’s Ursano Chair of Advisory Board

Defining Your Risk When Considering a Wrap-Up – Part 1

EPIC Insurance Inks Deal to Provide Risk Management for Miami Dolphins, Stadium

Report: 2.6M Homes at Moderate to Very High Risk of Wildfire

Secret Ratings Show US Regulator’s Concern on Banks’ Handling of Risks

Experts Say More Collaboration Needed for Critical Infrastructure Cyber Risk

Business Moves: NFP, Clear Group, and Strategic Risk Group Complete 4 Acquisitions

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Global Reserve Managers Upbeat on Growth but Worry About Geopolitical Risks

Symphony Risk Opens Austin Office, Names Burns President of Specialty Business

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