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  • Insurance industry adapts to new challenges, experts reveal at S&P conference
    At S&P Global Ratings’ 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has successfully adapted. Elizabeth Heck, Chairman, President, and CEO of Greater NY Mutual, emphasised that the adaptability comes from the fact that the […]
    Taylor Mixides
  • June Central Europe SCS & flooding drive hundreds of millions in insured losses: Aon
    The recent severe convective storms and flooding that have affected multiple countries in Central Europe since June 6 are expected to result in economic and insured losses amounting to hundreds of millions of EUR, according to Aon’s weekly catastrophe report. Aon highlighted a multi-hazard event occurring from June 7-9 in eastern Austria, where heavy rainfall […]
    Beth Musselwhite
  • DeSantis’ new $237mn budget to strengthen the Florida Office of Insurance Regulation
    Florida’s governor Ron DeSantis’ 2024-2025 Focus on Florida’s Future budget invests millions in the Florida Office of Insurance Regulation’s (OIR) to bolster residential home mitigation programs in the state. The OIR has primary responsibility for regulation, compliance, and enforcement of statutes related to the business of insurance and the monitoring of industry markets. The budget […]
    Kassandra Jimenez-Sanchez
  • Progressive records reinsurance recoverable in property business as May cat losses hit $722m
    Property and auto-focused insurance group, Progressive, has reported significant, net catastrophe losses of $722.1 million for the month of May, leading the firm to record a reinsurance recoverable of $95.1 million in its property segment under its per occurrence reinsurance arrangements. The more than $722 million of net catastrophe losses for the month translates to […]
    Luke Gallin