AM Best News

AM Best Says Losses from California Storms Largely Uninsured, Underinsured

The economic losses from the latest round of California storms will be significant, with many of these losses may not be insured because only 2% of California residents have purchased flood insurance, David Blades, associate director, industry research and analytics, …

Conditions Are Challenging, Claims Are Elevated, but Reinsurers’ Profits Return: Reports

Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report. “Reinsurers generally have realigned their risk profiles and are in a strong position to …

D&O Market Has Most Profitable Year Since 2014 but Results May Be an Anomaly

The directors and officers insurance marketplace in 2021 enjoyed its most profitable year since 2014 but results have to be “viewed as a possible aberration rather than a the start of a trend,” according to a new report from AM …

Property Insurers Exposed to $12.5B in ‘Silent Cyber’ Losses, Market Analysts Say

US property insurers are exposed to $12.5 billion in non-physical cyber losses that are not expected and not priced by underwriters, according to a report released Tuesday. CyberCube, AM Best and Aon teamed up to calculate the “silent cyber” exposure …