Aon releases new edition of Global Catastrophe Recap report

U.S. industry holds on to hope for a more peaceful 2012 Following the disastrous 2011, U.S. insurers had hoped that 2012 would be a lenient year in terms of natural catastrophes. These hopes were dashed when 2012 hosted a series of unfortunate events in its early months. These disasters made headline throughout the world of insurance news and put the industry on notice. The early months brought many powerful storms that caused widespread damages, mostly in the Eastern and Southeastern U.S. In April, these storms proved particularly devastating. Report shows…

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Aon Benfield report shows property insurance rates do not account for risk in some areas

Aon Benfield, a global reinsurance intermediary for the Aon Corporation, has released a new report concerning the state of home insurance rates in the U.S. The report shows that potential profit in the home insurance market has dropped from 6.9% in 2010 to 4.8% this year. The report suggests that the drop may be due to property insurer’s not pricing homeowner’s insurance in accordance with risk. This is especially prevalent along coastal regions where the risk for catastrophic damage is highest. Aon Benfield’s report shows that property insurers have shown…

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