September 1, 2022
Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18%, according to Swiss Re Institute’s economic insights report focused on floods. Climate change has led to an …
March 28, 2022
NYSIR Hires Senior VP for Claims The New York Schools Insurance Reciprocal, which provides property and casualty insurance for New York state school districts, appointed Michael T. Murdoch as senior vice president of claims. Murdoch has 38 years of experience …
March 17, 2022
LONDON –– Swiss Re SRENH.S, the world’s second biggest reinsurer said it would no longer insure most new oil and gas projects following mounting pressure on big business to do more to help the world cap global warming. Last year, …
December 10, 2021
Swiss Re said in a report released Thursday that litigation funding has become a $17 billion industry globally, with 52% of that money being spent in the United States. The reinsurer said third-party litigation funding (TPLF) is increasing the number …
December 1, 2021
FRANKFURT — A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the insurance industry. The tactic urged by The …
August 16, 2021
If you’re having trouble wrapping your mind around the scree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California and Siberia —you may be interested to know …
July 27, 2021
NEW YORK — The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s …
June 17, 2021
LONDON — Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from bulk-buy contracts, …
May 24, 2021
Climate change is making hurricanes bigger and stronger, and it may soon push them farther north. Yet Canada’s homeowners, businesses and insurers underestimate that escalating risk, according to one of the world’s leading reinsurance firms. Overall, the northern nation has …
March 31, 2021
Swiss Re warned insurers Tuesday that secondary perils such as thunderstorms and wildfires are making up a growing share of the losses caused by natural catastrophes, even in a year that experienced an abnormally active North Atlantic hurricane season. The …