Here we present a recap of recent thought leadership from Guy Carpenter focusing on important insurance and reinsurance topics in North America. ... Continue Reading »
auto
Insurance Industry Ripe for Disruption, Says VJ Dowling; MMC Young Professionals’ Global Forum 2017
The insurance industry will be profoundly disrupted by technological change, Vincent J. Dowling Jr., Managing Partner of Dowling & Partners Securities LLC, told attendees at MMC's Young Professionals' Global Forum in London. ... Continue Reading »
PA/MGA Personal Lines Appetite
On the personal lines appetite side of Guy Carpenter's MGA survey, auto grew by 13 percentage points and umbrella grew by 6 percentage points over the previous survey in terms of pursuing growth. Both homeowners and medical were unchanged. ... Continue Reading »
Chart: MGA Survey, Personal Lines Appetite
Results of Guy Carpenter's annual survey of the PA/MGA market show a decline in interest in medical programs from last year's three percent. ... Continue Reading »
Poland: Stricter Rules in Establishing Due Compensation in Vehicle Holders Insurance Market
According to many insured car holders in Poland, insurers have been underestimating compensation for losses, and the majority of auto insurance cases in Poland have been settled for amounts far below the actual costs of restitution. The most frequent reason is that the value of a loss has been determined based on the prices of used spare parts rather than new ones. ... Continue Reading »
Germany: Breach of Contractual Incidental Obligation Due to Gross Negligence Can Release Insurer from Obligation to Pay
The Insurance Contract Act (Versicherungsvertragsgesetz, VVG) contains provisions about risk exclusions and incidental obligations. A risk exclusion means the insurer does not provide insurance cover for a specified excluded risk, and in cases of an incidental obligation, the policyholder loses insurance cover if he/she does not observe the specified incidental obligation. ... Continue Reading »
European Motor at the July 1 2012 Reinsurance Renewal
United Kingdom: Reinsurance rates continued to harden following the reduction in excess of loss capacity available, as evidenced in the January 1, 2012, renewals, with periodical payment orders (PPOs) an increasing concern for reinsurers. Rate increases were targeted at the layers excess of GBP5 million, with increases in the 20 percent to 30 percent range the norm rather than ... Continue Reading »
January 2012 Reinsurance Renewal: European Motor
UK Motor Rate increases were higher than in recent years at the January 1, 2012, reinsurance renewal for UK motor, due in part to primary market dynamics. ... Continue Reading »
January 2012 Reinsurance Renewal: United States Casualty Lines
Automobile and General Liability Primary insurance rates in the commercial sectors have stabilized with underlying exposure stabilizing as well. The majority of general and automobile liability renewals renewed flat or with rate increases in the 1 percent to 5 percent range. Some favorable primary risks, however, continue to experience rate decreases in the single digits. The ... Continue Reading »
January 2012 Reinsurance Renewal: Italy
Reinsurance rates generally were flat year over year at the January 1, 2012, renewal. Motor was the lone exception, with reinsurance rates up 5 percent from a year ago. For 2012 the outlook is relatively stable. Developments in the motor business, which accounts for 50 percent of property and casualty premiums, also have led to a broader improvement in the insurance industry ... Continue Reading »
