21 October 2017

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Californian cannabis insurance market poised to take off

The wildfires which have devastated parts of northern California this month are expected to intensify demand for meaningful (re)insurance capacity once the new regulatory regime for cannabis producers comes into effect next year, Inside FAC understandsRead more

Arkema faces environmental suit over Crosby facility

Legal action against Arkema, the French-owned chemical company whose Crosby, Texas facility caught fire on Thursday 31 August, has continued with an environmental lawsuit filed on behalf of local residentsRead more

Zurich not expecting reinstatement costs after $717mn HIM toll

Zurich is not expecting to incur additional reinsurance reinstatement costs after disclosing an estimated $717mn Q3 hit from claims stemming from hurricanes Harvey, Irma and MariaRead more

Ark touts endangered species contingency cover

Ark has structured a contingency policy that will cover schemes involving the re-introduction of endangered species to the wild for attacks on livestock, domestic pets and peopleRead more

Swiss Re: HIM and Mexico losses will be $3.6bn

Suggesting an overall insured market loss of some $95bn, Swiss Re is expecting an initial combined claims burden in Q3 from hurricanes Harvey, Irma and Maria and the earthquakes in Mexico to be approximately $3.6bn, net of retrocession and before taxRead more

Sompo estimates HIM and Mexican quake losses at nearly $620mn

Japanese insurance giant Sompo Holdings has estimated that its net losses from hurricanes Harvey, Irma and Maria and the two earthquakes that struck Mexico in September will total around 70bn yen ($618mn)Read more

AJ Gallagher hires international mining specialist

Arthur J Gallagher (AJG) has expanded its global mining and property practice with the appointment of international mining specialist Stuart Hill as a director, effective immediatelyRead more

AIG writes first London market takaful W&I cover

American International Group's UK insurance arm (AIG UK) said it has underwritten the first Shariah-compliant warranty and indemnity (W&I) insurance policy to be issued in the London marketRead more

Ironshore Singapore raises political risk capacity by $15mn

Ironshore's Singapore operation has increased its underwriting capacity for political risk lines to $50mn from $35mn, the company said yesterday (19 October)Read more

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Mexican standoff

Amid uncertainty about the scale of insured losses in Mexico from recent catastrophes there remains little consensus about the effect on rates, finds Inside FACRead more

The FAC Door

If Inside FAC were a nation, we hope it would eschew the kind of dog-whistle, lowest-common-denominator politics favoured by some of the more nationalist, inward-looking politicians of the contemporary eraRead more

Sarah Mendola

Ready for action

Sarah Mendola, head of property, Advent UnderwritingRead more

2017 downstream losses approach $3bn

The prospect of an "immediate correction" to downstream energy rates, which have been on a downward trajectory for several years, now seems likely with insured losses for the year to date approaching the $2.85bn mark, according to JLT SpecialtyRead more

Baden-Baden in style

Oliver Schofield, managing director of corporate strategy at RFIB, will be donning his racing goggles and juicing up the engine as part of a car rally to the Baden-Baden reinsurance meetings this year Read more

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