Hurricane Ian

Housing Markets on Florida’s West Coast Are Cooling Faster Than Anywhere Else in the U.S., With Supply Rising and Demand Falling

Retrieved on: 
Dienstag, Juni 11, 2024
Professional Services, Data Analytics, Residential Building & Real Estate, Finance, Construction & Property, Fintech, Hurricane Ian, Prevalence, Port, Weather, Yoy, Housing, Flood, Sale, News, Insurance, Foot, Natural disaster, Real estate

North Port’s housing market is cooling fastest, followed by Tampa and Cape Coral.

Key Points: 
  • North Port’s housing market is cooling fastest, followed by Tampa and Cape Coral.
  • There are three other Florida metros on the list of 10 housing markets cooling quickest: Orlando, FL comes next, followed by Denver, Houston, Minneapolis, Jacksonville, FL, Lakeland, FL and Dallas.
  • The measures are year-over-year changes in home prices, price drops, inventory, sale-to-list price ratio and the share of homes that sell within two weeks.
  • Measures of homebuying demand and competition are dropping off quickly in Florida, and listings and price drops are surging.

Oxbridge Re Holdings Limited Reports First Quarter 2024 Results

Retrieved on: 
Donnerstag, Mai 9, 2024
Investment, Policy, Hurricane Ian, RWA, Web3, Madhu, Securitization, Acquisition, Telephone, Insurance

“We were pleased with our core operational performance in the first quarter of 2024 in our Web-3 and reinsurance tokenization business," commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu.

Key Points: 
  • “We were pleased with our core operational performance in the first quarter of 2024 in our Web-3 and reinsurance tokenization business," commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu.
  • Net premiums earned for the three months ended March 31, 2024 increased to $549,000 from $0 in the prior year’s first quarter .
  • The increase is due to higher general administrative expenses incurred during the first quarter of 2024.
  • The increase is due to higher expenses incurred during the first quarter of 2024 when compared with the prior period.

Universal Reports First Quarter 2024 Results

Retrieved on: 
Donnerstag, April 25, 2024
Professional Services, Insurance, Finance, Table, Share repurchase, Hurricane Ian, Tax, RAP, Investment, GAAP, Growth, Policy

Net income available to common stockholders was $33.7 million, up from $24.2 million in the prior year quarter, and adjusted net income available to common stockholders was $31.4 million, up from $24.0 million in the prior year quarter.

Key Points: 
  • Net income available to common stockholders was $33.7 million, up from $24.2 million in the prior year quarter, and adjusted net income available to common stockholders was $31.4 million, up from $24.0 million in the prior year quarter.
  • Revenue was $368.0 million, up 16.3% from the prior year quarter and core revenue was $364.9 million, up 15.4% from the prior year quarter.
  • The adjusted operating income margin was 12.6%, up from an adjusted operating income margin of 10.8% in the prior year quarter.
  • The decrease primarily reflects higher net premiums earned associated with lower reinsurance costs in the current year quarter.

Munich Re Life US and Clareto Usher in Next-Level Efficiency in Life Insurance Underwriting with Automated EHR Summarizer

Retrieved on: 
Dienstag, April 23, 2024
Technology, Other Professional Services, Health, Finance, Apps, Applications, Professional Services, Other Technology, Software, Data Analytics, Health Technology, Fintech, Health Insurance, Electronic Design Automation, Data Management, Ecosystem, FHIR, AI, Hurricane Ian, Machine learning, EHR, Electronic health record, MEAG, Insurance, Partnership, Intelligence, Patient, Risk assessment, Algorithm, Automation

“Automated EHR Summarizer helps life insurance carriers further align with customer expectations by enabling fast and accurate decision-making,” said June Quah, Vice President, Integrated Analytics, Munich Re North America Life. “This product leverages our leadership in risk assessment, technical expertise in data analytics—including artificial intelligence and natural language processing techniques--and access to an unparalleled EHR network to push the boundaries of digital transformation in the industry.”

Key Points: 
  • Automated EHR Summarizer extracts and normalizes EHR data directly from the source, highlights key points essential to underwriters and provides triage guidance.
  • “Automated EHR Summarizer helps life insurance carriers further align with customer expectations by enabling fast and accurate decision-making,” said June Quah, Vice President, Integrated Analytics, Munich Re North America Life.
  • Automated EHR Summarizer identifies clean EHR data that can bypass human review and save time.
  • Flexibility for automated underwriting: As the industry shifts to automated decisioning, Automated EHR Summarizer is optimized for use in rule engines and scoring models.

Jackery's Earth Day Review: Assessing the Impact of Collaborating with WWF and More

Retrieved on: 
Montag, April 22, 2024
Vaccination, Ecosystem, Nature, Biodiversity, CSR, Hurricane Ian, Partnership, Electricity, Tornado, Environment, Disease, Corporate social responsibility, Habitat, Organization, WWF, Hunting

FREMONT, Calif., April 22, 2024 /PRNewswire/ -- On Earth Day, Jackery encourages everyone to read and share World Wildlife Fund (WWF) 's " 60 Actions for the Planet ".

Key Points: 
  • FREMONT, Calif., April 22, 2024 /PRNewswire/ -- On Earth Day, Jackery encourages everyone to read and share World Wildlife Fund (WWF) 's " 60 Actions for the Planet ".
  • We invite you to explore Jackery's partnership with WWF and other CSR initiatives with us.
  • Demonstrating a dedication to wildlife conservation, Jackery announced a collaboration with WWF in June 2023.
  • Jackery's collaboration with WWF and other CSR activities exemplify their commitment to making a positive impact on society and the environment.

New record of 142 natural catastrophes accumulates to USD 108 billion insured losses in 2023, finds Swiss Re Institute

Retrieved on: 
Mittwoch, April 10, 2024
Building, Climate change, Growth, SCS, Lightning, Insurance, Wind, Hurricane Ian, Flood, Risk assessment, GDP, Rain, Public sector, USD, Population growth, Weather

Global insured losses from natural catastrophes outpaced global economic growth over the past 30 years: From 1994 to 2023, inflation-adjusted insured losses from natural catastrophes averaged 5.9% per year, while global GDP grew by 2.7%.

Key Points: 
  • Global insured losses from natural catastrophes outpaced global economic growth over the past 30 years: From 1994 to 2023, inflation-adjusted insured losses from natural catastrophes averaged 5.9% per year, while global GDP grew by 2.7%.
  • 2023 was also marked by a high frequency of events as 142 insured natural catastrophes set a new record.
  • Hailstorms are by far the main contributor to insured losses from SCS, responsible for 50–80% of all SCS-driven insured losses.
  • Global insured losses from SCS accumulated to a new record of USD 64 billion globally in 2023, 85% originating in the US.

Oxbridge Re Holdings Limited Reports Fiscal 2023 Results

Retrieved on: 
Dienstag, März 26, 2024
Financial management, Web3, Category 3, Telephone, RWA, Madhu, Policy, Acquisition, Hurricane Ian, Jet, Insurance

This achievement is particularly noteworthy, given the challenges posed by Hurricane Idalia, which made landfall as a Category 3 hurricane in 2023.

Key Points: 
  • This achievement is particularly noteworthy, given the challenges posed by Hurricane Idalia, which made landfall as a Category 3 hurricane in 2023.
  • Net premiums earned for the three months ended December 31, 2023, were $523,000 compared to $nil in the same prior year period.
  • For the year ended December 31, 2023, net premiums earned increased to $1,255,000 from $995,000 in the prior year.
  • For the year ended December 31, 2023, total expenses was $2.3 million, compared with prior period total expenses of $2.6 million.

HSB Introduces Cyber Insurance for Autos

Retrieved on: 
Dienstag, März 26, 2024
Online Privacy, Technology, Professional Services, Automotive, General Automotive, Vehicle Technology, IOT (Internet of Things), Security, Apps, Applications, Software, Other Automotive, Networks, Mobile, Wireless, Hardware, Insurance, Off-Road Trucks & SUVs, Data Management, Cyberattack, Cybercrime, Risk management, Communication, SUV, Internet of things, Risk, Vehicle, Transport, Virus, Computer, Hurricane Ian, Identity theft, Superior, HSB, MEAG, Engineering

HSB Cyber for Auto is designed to cover attacks on personal data that is connected and stored in a vehicle.

Key Points: 
  • HSB Cyber for Auto is designed to cover attacks on personal data that is connected and stored in a vehicle.
  • HSB’s Cyber for Auto will be available1 through an endorsement to the policies of insurance companies that partner with HSB.
  • 1 The Cyber Security for Automobile Insurance offering described above has not been approved by any state insurance departments.
  • HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages.

Best’s Market Segment Report: Disciplined Deployment of Capital Pays Off in Record-Breaking Year for Insurance-Linked Securities Market

Retrieved on: 
Montag, März 18, 2024
Other Professional Services, Professional Services, Insurance, Finance, ILW, Growth, Risk, ALL, News, ILS, Hurricane Ian, AM Best, USD

Rate increases during the Jan. 1, 2024, renewal season were more muted than last year, and risk-adjusted spreads have started to narrow, amid the disciplined deployment of capital by providers.

Key Points: 
  • Rate increases during the Jan. 1, 2024, renewal season were more muted than last year, and risk-adjusted spreads have started to narrow, amid the disciplined deployment of capital by providers.
  • “Capital inflows have mostly matched the growth in reinsurance demand rather than exceeded it,” said Emmanuel Modu, managing director, insurance-linked securities, AM Best.
  • Guy Carpenter and AM Best estimate total ILS market capacity at about USD 100 billion at year-end 2023, which is up about USD 4 billion from a year earlier.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AtkinsRéalis Providing Hurricane Idalia Emergency Management Assistance in Florida

Retrieved on: 
Mittwoch, März 20, 2024
Development aid, Built environment, Welfare, FEMA Public Assistance, COVID-19, Hurricane Ian, Sunshine State, Metal, Mineral, TSX, Investment, Federal Emergency Management Agency, Hurricane Andrew, FEMA, Weather, ATRL, Emergency management, Government, Wildfire, Nursing

AtkinsRéalis is providing Technical Assistance (TA), Public Assistance (PA) and grant management services in 21 Florida counties on behalf of FDEM under the multi-year contract.

Key Points: 
  • AtkinsRéalis is providing Technical Assistance (TA), Public Assistance (PA) and grant management services in 21 Florida counties on behalf of FDEM under the multi-year contract.
  • The Company's comprehensive knowledge of the Federal Emergency Management Agency's (FEMA) PA program and on-site senior level TA professionals will significantly benefit applicants identifying and filing for eligible recovery projects from Hurricane Idalia.
  • AtkinsRéalis has supported the State of Florida following every major storm and disaster since 1992, when Hurricane Andrew damaged and destroyed nearly 200,000 homes in South Florida.
  • "AtkinsRéalis is an industry leader in providing comprehensive recovery and post-disaster services," said Steve Morriss, President, U.S., Latin America, and Minerals & Metals, AtkinsRéalis.