Weekly News Update – 15th March

According to BI losses from natural disasters in 2023 are estimated at $118 billion, compared to the 2017-2021 average of $97 billion.  Allianz, Aviva, AXA, RSA and Zurich are part of the new McGill and Partners facility to expand capacity for buildings with fire safety issues.

Insurers exiting high-risk areas as climate losses rise 360%: Bloomberg (Source: Reinsurance News)
Bloomberg Intelligence has reported that a huge rise in insured losses is “causing insurers to hike premiums and exit high-risk areas”.

Reinsurance facility set for rollout over six years post-Grenfell (Source: Insurance Business Magazine)
Set to be launched next month, the new facility will support leaseholders whose properties are deemed high-risk due to combustible cladding.

Nord Stream sues insurers in London over 2022 pipeline blasts (Source: Reuters)
The lawsuit, which names Lloyd’s and Arch as defendants, says the firm is seeking more than 400 million euros over the 2022 explosions.

Call for carbon offset insurance growing (Source: CIR Magazine)
Research from Chaucer says it expects “carbon offset cover to be a fast-growing insurance category as more companies commit to tree planting initiatives.

And if you haven’t seen it…

Heinz offers world’s 1st ketchup insurance policy with 57 varieties (Source: Insurance Journal)
Heinz Arabia’s new insurance coverage “aims to alleviate the stress and inconvenience of everyday ketchup spills, splatters and splotches”.

Latest News

Ready to take the next step?

Request a call back.

Let’s get the conversation started today.

Sign an NDA.

Take the first step in the next stage of your MGA business.