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Category 5 Dorian batters Bahamas, Florida still at threat

The latest National Hurricane Center (NHC) update on Dorian has the storm at Category 5 and the Florida east coast remaining in the cone of uncertainty.

Cat 4 Dorian could skirt Florida towards Carolinas landfall

Hurricane Dorian is now at Category 4 strength with maximum sustained winds of close to 150 mph, but the latest forecasts are leaning towards a path that would skirt Florida’s east coast and head north towards a landfall in the Carolinas instead.

NFP hiring spree continues with West Coast and Houston appointments

Expansive US broker NFP has hired Berkshire Hathaway’s Cynthia Olinger and JLT’s Jamin Valdez as senior vice presidents, as well as Alliant’s Cran Fraser as energy and marine practice leader.

$100bn Miami strike from Dorian would stress test reinsurers and ILS: S&P

Amid great uncertainty over the final path of Hurricane Dorian, ratings agency Standard & Poor’s has said a Cat 4 landfall in densely populated areas of the Florida peninsula would see reinsurers and alternative capital bear the brunt of the losses.

Dorian threatens to test a changed Florida homeowners market

Increased reinsurance pricing, higher cat fund participation and reforms of AOB and FHCF rules mean Hurricane Dorian’s impact on Florida’s homeowners insurance market will look different to recent storms in the state.

JJ Johnson joins Trean Intermediaries

Former JLT Re executive Horace “JJ” Mann Johnson has reemerged at expansive reinsurance broker Trean Intermediaries as managing partner, The Insurer can reveal.

Dorian now a major hurricane, forecast to near Florida Monday

Hurricane Dorian’s winds have increased to Category 3 level, with the National Hurricane Center (NHC) forecasting the storm to be near the Florida peninsula late Monday.

Ridgecrest quakes drive second-largest CEA policy spike

The California Earthquake Authority (CEA) gained 23,861 earthquake insurance policies in July, the second-largest monthly net increase in its 23-year history.

Dorian forecast to considerably slow down near Florida peninsula

Dorian is expected to intensify to a major hurricane later today, according to the latest update from the National Hurricane Center (NHC), with a considerable slowdown near the Florida peninsula likely that would prolong the duration of wind, storm surge and rainfall.

Insured losses from Dorian-like storms $11.3bn-$37.2bn: RMS

An RMS analysis of five historical Florida storms similar to Hurricane Dorian reveals a mean insured loss of $22.7bn based on 2019 exposures.

Termination payments must not reward failure: EIOPA

The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategy for clamping down on remuneration awarded to (re)insurance executives, stressing that any such payments must not reward failure.

Dorian could be strongest Florida storm since Hurricane Andrew

If Dorian makes landfall as a Category 4 storm on Monday, as forecast, it will be the strongest hurricane to strike Florida’s East Coast since Andrew in 1992.

Sirius names seven business segment leaders

In an effort to unify its global operating structure, Sirius Group has announced business segment leaders and launched a global management committee.

CEO Menzies is buyer of Applied Underwriters’ insurance operations

Applied Underwriters co-founding CEO Steven Menzies has emerged as the buyer of the workers compensation specialist’s core insurance subsidiaries currently majority-owned by Berkshire Hathaway.

Dorian could reach Cat 4 strength at Florida landfall

Forecasting models are showing an increased confidence that Hurricane Dorian will hit the east coast of Florida over the Labor Day weekend as a major hurricane that could reach Category 4 intensity.

More ILS funds to set up rated reinsurers: S&P

S&P believes convergence capital will continue to flow to ILS funds, despite high losses in the past two years and trapped capital, with the ratings agency also expecting more funds to explore setting up rated carriers.

LSM names AIG’s Brodu head of financial lines in France

Liberty Specialty Markets (LSM) has appointed Antoine Brodu as the new head of financial lines in France.

Insurers “gaining control” over silent cyber: Willis Re

Expectations of claims related to cyber losses under insurance policies not specifically designed to cover cyber risks have fallen compared to this time last year, across all commercial business lines and industry groups.

Braithwaite leaves Willis Re for Lockton Global Re

Lockton Global Re is set to add to its growing US platform with the hiring of Willis Re executive vice president Mark Braithwaite, The Insurer can reveal.

Lloyd’s suspends A&H underwriter for drink-related incident

Pembroke Syndicate’s head of personal accident Marc McLean was temporarily suspended from Lloyd’s of London following an alcohol-fuelled incident that led to a complaint from an Australian coverholder, as the Corporation continues to make good on its zero-tolerance approach to market misconduct, The Insurer can reveal.

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