Demanding and persisting underwriting for marine insurance industry: WTW

Underwriting discipline persists for marine cargo insurance while underwriting for hull and liability remains demanding, according to the latest market update by WTW. A hard market continues for cargo insurance; however, renewed competition and enhanced growth targets in the marketplace have moderated upward rate movement in 2022. While rate increases are to be anticipated for …

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Rokstone’s Aura Underwriting launches new Caribbean parametric insurance product

Aura Underwriting , part of the international specialty re/insurance MGA, Rokstone, and the Aventum Group, has announced the launch of Aura Parametric – a new Caribbean parametric product to complement its existing Lloyds Caribbean binder. Aura Parametric will provide reinsurance for hurricanes that intersect a pre-defined radius of an insured’s location, which is typically 40 …

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Applied Underwriters’ Centauri Insurance Reaffirms Commitment to Underwriting in Gulf Coast Market as Above Normal Hurricane Season Looms and Solvency Issues Beset Insurers and Diminish Availability

Result: ‘A’ rated Applied subsidiaries, inundated with submissions, continue to add to infrastructure to help sustain the market place and serve Gulf Coast brokers and their insureds as demand increases SARASOTA, Fla., June 24, 2022 /PRNewswire/ — Despite a hurricane season predicted to be severe by several weather and risk management sources, Applied Underwriters and …

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Machine Learning is Transforming Underwriting In The Insurance Sector

Automated underwriting is one of the most recent applications of machine learning in insurance-related operations. Machine learning-powered underwriting enables insurers to mitigate risk with greater certainty. Insurance providers perennially face several likely business risks, an obvious one being the possibility of having to pay all their policyholders once their cover matures. To counter such risks, …

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