Property insurers must prepare for aging population: report

“By 2050, for every 100 working-age people, there will be 26 seniors to support, up from 16 today — a 63% increase,” the report explained. “And in most regions outside of Africa, the imbalance intensifies, approaching nearly one dependent for every three …

Largest Hawaii property and casualty insurers

China United Property Insurance to see continued profitable underwriting

China United Property Insurance Company (CUPI) is expected to maintain a stable underwriting margin by opting out of higher volatility business and continuing to enhance its risk-selection capability, says Fitch Ratings. CUPI is one of the largest non- …

EV charging fires are rare but insurers can't ignore the risk

Five years ago, I installed a Level 2 charger in my garage for my first electric vehicle (EV). I did everything by the book: I hired a licensed electrician, pulled the necessary permits, and made sure my panel could handle the load. Even still, I remember …

Colorado legislators nix plan to tame property insurance costs

Colorado lawmakers this week rejected a proposal by Democratic Gov. Jared Polis to backstop the state’s property insurance market, sending the state back to the drawing board as it contends with rising premiums, canceled policies and a growing wildfire …

New Zealand: Insurers are resilient in managing claims from an extreme seismic event

The Reserve Bank of New Zealand (RBNZ) has published the results from the 2024 General Insurance Industry Stress Test. The exercise assessed insurers' responses to a major earthquake and severe but plausible cyber-risk incidents. The exercise was …

Australia: Insurers defend hike in premium pricing

The Australian insurance industry says that extreme weather, building inflation, soaring reinsurance premiums and state insurance taxes are the key factors that push up the insurance premiums. Insurance Council of Australia CEO Andrew Hall speaking at a …

Calif. Smoke Claim Ruling Gives Insurers Support On Denials

In their recent Law360 guest article titled "Reconciling 2 Smoke Coverage Cases From California," the authors described a California appellate court's Feb. 7 opinion in Gharibian v. Wawanesa General Insurance Co. as an "outlier" …

Insurers get queries: How much does war cover cost?

Following India's Operation Sindoor, insurance companies are experiencing a surge in inquiries for war risk insurance. While cargo in transit can still be covered with additional premiums, underwriters are hesitant to provide war risk cover for landed …

Can insurers keep up with evolving wildfire risk?

The rise of destructive wildfires across the western U.S.—and especially in California—has reshaped the P&C insurance landscape. What was once perhaps considered a seasonal concern has become a year-round, multi-billion-dollar risk factor. As carriers …