Climate change will be challenging for insurance companies, says Moody’s

Climate Change - Insurance - Earth in Flood and Fire

A new report revealed the impact of warming climates worldwide on the insurance industry. The impact of climate change on the economy will have an increased liability risk for insurance companies. Catastrophes related to extreme weather are becoming more severe and frequent, according to a Moody’s Investors Service report. The report pointed to the rising instance of weather disasters like Hurricane Harvey in 2017. Moody’s Investors Service recently released a report. It investigated the economic aftermath of climate change. Insurance companies will face an increased liability risk from more frequent…

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Worldwide property and casualty insurance market to break $895 billion in 2018

Property and Casualty Insurance

Finnacord has now released the results of a research study looking into the future of the commercial P&C market. According to the outcomes of a research study conducted by the Finaccord financial research firm, by the close of the year 2018, the global commercial property and casualty insurance market will break the $895 billion mark in gross written premiums. It also pointed out that commercial liability coverage premiums would see the fastest growth rate. By the end of 2014, the worldwide commercial non-life premiums for property and casualty insurance were…

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Global commercial insurance rates dropped in Q2

Commercial Insurance rates

Property coverage saw the largest drops during that quarter with more moderate decreases in casualty. Customers in the commercial insurance market saw positive news upon the release of a recent August 2015 report from Marsh, called the “Global Insurance Market Quarterly Briefing,” which determined that rates had decreased worldwide in nearly every business line. That report indicated that this was the ninth consecutive quarter in which there were decreases. It also explained that this trend of commercial insurance rate decreases is a reflection of the competition within the market. It…

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Property and casualty insurance industry will continue holding strong

Property and Casualty Insurance

Moody’s has released its global predictions and has suggested that P&C will remain stable. Moody’s Investors Service Inc. has now released its predictions regarding the global property and casualty insurance industry, and they have designated its future as being “stable” for the next while. This data was first released at the end of last week as Moody’s provided its industry forecasts. Moody’s put out its “2014 Outlook – Global P&C Insurance” report and, within it, the firm showed that property and casualty insurance premiums will be continuing their growth within…

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