Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry …
A new report warns that compounding natural disasters introduce new, interconnected, and complex risk scenarios — and points to a need to reimagine efforts that support disaster preparedness, mitigation, and recovery “in an era of intensifying extreme weather-climate events and …
Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025, as general inflation and claims inflation conditions soften, according to Swiss Re in a report, which discusses the macroeconomic factors …
Joemar Flores, a spindly 28-year-old, gestured across his family’s farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance. They’re still there, producing food and an income for him, thanks in …
Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. Reinsurers launched in “the class of 1992,” “the class …
A hard market combined with underwriting capacity from fronting companies allowed for robust growth in the MGA market in 2023, according to a new Conning strategic study. The global investment management firm’s 11th annual study on the P/C program business …
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 …
Earth’s more than year-long streak of record-shattering hot months kept on simmering through June, according to the European climate service Copernicus. There’s hope that the planet will soon see an end to the record-setting part of the heat streak, but …
Pennsylvania lawmakers should consider granting homeowners tax breaks for water damage expenses, mitigation and repair costs, and flood insurance premiums, according to a new state report. Those are several of the recommendations by a task force that studied ways to …
Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three renewal reports from reinsurance brokers. “Loss-free property programs generally saw easing …
