Risk losses | Insurance Insider US

Over 30 years after the Northridge earthquake, quakes have fallen out of market discussions.

One avenue for capital freed up by a softer-than-expected renewal could be more M&A.

MGAs going public is now a viable option, but dominating a market comes first.

Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.

With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.

Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants.

The MGA began offering US commercial E&S property products in December.

The executive said inflation isn’t completely gone but is now “more understood”.

The credit can now be applied to mitigation against operational losses.

While attritional losses were up for the quarter, those in the carrier’s core business declined.

The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.

Selective’s CEO earlier attributed Q3 adverse development to the NJ market.

Shared and layered accounts are seen as reaping the biggest benefits.

Growth concerns were top of mind at this year’s conference.

According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.

Whether in property or casualty, areas of the market will be profitable even with new entrants, the executive said.

Following the Golden Age of Specialty, franchise quality will play a bigger role in determining success.

The MGU is entering the often-difficult habitational GL space with an initial E&S offering.

A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.

Insurers can offer features the beleaguered fund can’t, the MGA said.

As the US recovers from a major flood event, the vast majority of Americans remain uninsured.

The company also encouraged insurers and brokers to support the initiative.

Rate gains are easing across many commercial and personal lines.

Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.

Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.

Few claims have been filed thus far, as damages have been highly localized.

Rates have fallen an average of 10%, though changes can be highly specific to each property.

They cover environment, political violence, equipment and cannabis.

The MGA market now makes up 10% of the overall P&C market.

The program is designed to address a changing risk environment.

Secondary perils are no longer so secondary, but the losses are already priced in for commercial property.

Axis is retroceding $2.3bn of reinsurance segment reserves to Enstar.

The program will offer liability coverage up to $5mn per occurrence.

After seven years of premium rate growth, rates are down 5% to 40% across the US.

The coverage will only be available in Illinois and Michigan at first.

The program is being launched through subsidiary Southern Marine.