The combination of known risks with a new technology is challenging, Christian Höft, client manager with Munich Re, told Canadian Underwriter one day after the (re)insurer released a comprehensive risk analysis of the Hyperloop technology. Hyperloop Transportation Technologies’ (HTT) technology…
Hyperloop technology – a form of transport in which passengers and goods travel in capsules at high speeds – is both “feasible and insurable in the medium term,” according to a new report from Munich Re. The Hyperloop Transportation Technologies…
With deadly wildfires destroying more than 3,500 properties north of San Francisco, Munich Re is warning that “prime wildfire conditions” may continue in California this winter. “Over the past decade, the United States has seen an uptick in the frequency…
Seven in 10 of the surveyed U.S. businesses that experienced a cyber attack in the last year spent in excess of US$5,000 to investigate each incident, restore or replace software and hardware, and address any other consequences. However, 38% of…
The global reinsurance market is “far from thriving” and while the Lloyd’s market “maintains an excellent business profile,” its accident year combined ratio in reinsurance exceeded 100, A.M. Best Company Inc. said in a report released Tuesday. Each September, Oldwick,…
A firm once described by its co-founder as being “on the lunatic fringe” of the insurtech market plans to provide, in Canada, insurance covering consumer items for accidental damage, loss and theft starting next year. Trov Inc., which is currently…
With property catastrophe prices dropping during the 2017 renewals, combined with natural catastrophe losses exceeding US$50 billion last year, global reinsurers are at greater risk of having negative underwriting results and will tend to “shy away” from property catastrophe business,…
Munich Re reported Wednesday a combined ratio of 93.9% in reinsurance in the three months ending June 30, down 5.9 points from 99.8% in the same period in 2016, when the German reinsurer had natural catastrophe claims costs of €335…
Four of the five costliest natural catastrophes, measured by insured losses, during the first half of this year, occurred in the United States, while four of the five deadliest events occurred in Asia, Munich Re announced. Munich Re released Tuesday…
Slice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado,…
The soft pricing in the global reinsurance market will continue for at least the rest of 2017, ratings firm Fitch Ratings said in a report released Monday. “We expect premium rates to continue declining, due to large volumes of under-deployed…
Munich Re has reported an increased operating result for the first quarter of 2017, from 726 million euros in Q1 2016 to 952 million euros in the most recent quarter. The reinsurance field of business contributed 466 million euros to…