Intel

The title of this quarter’s overview and forecast could easily be: “Profitability Matters.” That is especially true in the Property space for both Personal and Commercial policies. The industry faces daily challenges from CAT storms and events, making every state subject to immediate loss from hurricanes, wildfires, and convective storms—defined as severe local storms associated with wind, thunder, lightning, heavy…

We have seen few changes in the Property & Casualty (P&C) marketplace from Q1 through Q2 of 2023, however, the broader picture is becoming clearer now that 2022 year-end financial filings are available. According to ALIRT Insurance Research, the discrepancy between Personal and Commercial Lines Composite underwriting is historically wide. Namely, the Personal Lines Composite combined ratio of 109 percent…

2022 was a year that few in the Property and Casualty (P&C) sector could have predicted. Instead of stability, the market remained largely volatile, especially in the Property sector and the reinsurance marketplace. Many carriers suffered through unprofitable years thanks to Hurricane Ian, inflation, and an adverse property insurance environment primarily in Florida and Gulf coast states. Above all, losses…

Macroeconomic trends, namely inflation and rising interest rates, are having a profound effect on the Property & Casualty (P&C) market as we head into the second half of 2022. Inflation impacts everything—from rapidly changing property values to challenges with mid-year reinsurance renewals. These are truly generational inflationary pressures that most professionals within the industry have never personally experienced. Even with…

Below we highlight the top 5 trending intel topics in July 2022.   1. Property & Casualty Overview & Outlook Commercial Property, Cyber Liability and Coastal Properties Watch as our experts discuss the Property & Casualty market as we begin the third quarter of 2022. This panel discussion included insights into…

While the Energy insurance industry remains in a hard market, much has changed in the last 12 months. Buoyed by the war in Ukraine, the price of oil has risen from $70 to well over $110 as of June 27, global oil production and consumption has climbed to pre-pandemic levels, and rig activity is up significantly. Most oil producers are…

During this webinar, we were joined by industry experts for a discussion on the Energy market in the U.S. and Canada. They provided insights into oil, gas, renewables, and the impacts of current events. https://vimeo.com/723507377/374f273677

As the energy industry continues to rebound after a challenging year, Crain’s Content Studio recently spoke with Cree Teel, Vice President, Broker, Burns & Wilcox Brokerage, Dallas, Texas, to learn more about Energy Insurance. What are the greatest risks in the energy industry today? C.T.: In my opinion, the greatest risk is the price of oil. When prices dip below…

The price of crude oil last year reached negative territory, exacerbated by a drop in the price of West Texas Intermediate crude of 300 percent to around negative $37 per barrel in April 2020.The challenges tied to the pandemic created a market we had not seen in decades, forcing many smaller businesses to shutter operations. The good news is that we have seen significant recoveries in 2021.…

Our experts gathered for a discussion on the state of the energy insurance market, trends within the sector and the impact on specific products. During this webinar, we discuss: Specialty areas within the energy industry Market conditions and rate impact Challenges and solutions within the energy market https://vimeo.com/561535323/bc265100b4

The ransomware attack that shut down one of the largest fuel pipelines in the U.S. and set off gas shortages and panic-buying is indicative of the growing cyber risk threatening American infrastructure, experts said in a recent USA Today report. Colonial Pipeline Co., which moves 2.5 million barrels of petroleum each day, was forced to discontinue operations May 7 after…

Oil and gas production in the Gulf of Mexico was slowed significantly beginning on August 23, as a pair of tropical storms approached U.S. shores and forced the shutdown and evacuation of nearly 300 offshore platforms. Hurricane Laura, one of the most powerful storms to ever hit the U.S., made landfall on August 27, devastating the city of Lake Charles,…