Beth Musselwhite

1 week ago | reinsurancene.ws | Beth Musselwhite

NFP, a subsidiary of Aon and a global insurance brokerage and consultancy, has appointed Darrin De Stephanis as Senior Vice President, Capital Solutions and Commercial Surety Growth Leader. Based in Vancouver, De Stephanis will report to Adrian Pellen, co-leader of NFP’s Construction and Infrastructure (C&I) Group. NFP’s construction surety risk practice is part of its C&I Group, which operates across the U.S. and Canada.

1 week ago | reinsurancene.ws | Beth Musselwhite

SageSure, a provider of catastrophe-exposed property insurance, has announced the appointment of Prasad Gunturi as Vice President (VP), Catastrophe Risk R&D. Founded in 2009, SageSure is a managing general underwriter focused on catastrophe-exposed markets in the U.S., offering home, flood, and commercial coverage on behalf of highly rated carrier partners. The company operates in 16 coastal states, has surpassed $2.3 billion in premium, and has more than 1,000 employees across the US.

1 week ago | reinsurancene.ws | Beth Musselwhite

U.S. insurers paid $1.04 billion in lightning-related homeowners insurance claims in 2024, marking a 16.5% decrease from the $1.24 billion paid in 2023, according to the Insurance Information Institute (Triple-I). The total number of lightning-caused claims fell to 55,537 in 2024, down 21.5% from 70,787 in 2023, marking the lowest level recorded since before 2017. More than half of all claims came from the top 10 states, with Florida, Texas, and California leading the nation.

1 week ago | reinsurancene.ws | Beth Musselwhite

ADGM has announced plans to establish the Insurance Association within its jurisdiction, marking a key milestone in advancing the insurance and reinsurance sectors both within ADGM and across the United Arab Emirates (UAE). ADGM is an International Financial Centre in the capital of the UAE, operating across Al Maryah Island and Al Reem Island. It attracts a wide range of businesses, including financial institutions, asset management, fintech, corporations, and professional services firms.

1 week ago | reinsurancene.ws | Beth Musselwhite

According to Verisk’s Quarterly Property Report, claims volume continued to decline in the first quarter of 2025, reaching a five-year low despite significant weather events in several regions. The quarter ended with a total of 1,059,323 claims, comprising 700,394 non-catastrophe (non-CAT) claims—the lowest in five years—and 358,929 catastrophe (CAT) claims. Overall claim volume dropped about 7% from the same period last year, which had already seen a 15% decline from 2023.