According to a study by Guy Carpenter & Company, LLC, released earlier this month, reinsurance rates for most lines of property insurance decreased at the Jan. 1, 2010 renewal, compared with rates for similar coverage in 2009. Guy Carpenter’s “Rates Retreat as Capital Rebounds: Global Reinsurance Renewals at Jan. 1, 2010″ can be found here. Guy Carpenter attributes the rate decrease to a variety of factors, including relatively low catastrophe losses during 2009, the lingering effects of the recession on demand, and a rally in global financial markets, all of which lead to an excess in supply and increased competition. It remains to be seen whether this declining trend will continue through 2010. Guy Carpenter notes some “longer-term clouds on the horizon” that may temper the current competitive conditions over the next months, leading to rate increases.
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Recent Posts
- Self-insured companies now must report to Medicare before settling a liability claim brought by a Medicare recipient
- Favorable Ruling from Mississippi Supreme Court for Contractors who Use Subs
- Eleventh Circuit Adopts Davila, the Supreme Court’s ERISA Preemption Test
- Paint Fumes Are Not Subject to “Pollution Exclusion” According to U.S. District Court
- Reinsurance Rates Down First of 2010
- Seventh Circuit Court of Appeals Still “Pondering” Conflict Analysis
Blog Topics
Allocation of Loss
- Allocation of Defense Costs for CERCLA Liability
- Massachusetts Adopts The Time-On-The-Risk Method Of Loss Allocation
- No Manifestation Trigger Please, We're British
- Paul Bunyan's Axe - Minnesota Law Governs Allocation of Liability
- Posner on Claims Made Coverage — “It Would Be Odd to Say that the Federal Appellate Judiciary 'Arose From' Columbus's Voyages”
- Arbitration, Forum Selection, and Service of Suit
- Bad Faith
- Bad Faith Liability
- CGL
- A Claim for Negligent Hiring and Supervision is not a Covered Occurrence
- Allocation of Defense Costs for CERCLA Liability
- Assigning an Interpretive Mulligan to an Asbestosis Exclusion
- CGL Policy Provides No Duty to Defend Against Qui Tam Suit
- Equitable Estoppel and Reservation Of Rights
- Excavating the Contractors' and Subcontractors' Exclusion
- Excess Policy Does Not Follow the Form of an Endorsement in the Primary Policy
- Favorable Ruling from Mississippi Supreme Court for Contractors who Use Subs
- General Contractor Owed a Defense as an Additional Insured
- Hawaii Five-O: Ninth Circuit Certifies to the Hawaii Supreme Court the Issue of the Scope of the Total Pollution Exclusion
- Latent Ambiguity Inheres in the Phrase "Written Notice of a Claim"
- Liability for Defective Nutritional Supplements Excluded by Contractual Liability Exclusion
- Liability Insurer Owes No Defense to an Insured Under Personal and Advertising Injury Liability Coverage Where the Underlying Suit Alleges Intentional Conduct
- Massachusetts Adopts The Time-On-The-Risk Method Of Loss Allocation
- Moral Hazard and the "Your Work" Exclusion
- New Math — 469,000 Defective Product Claims Constitutes One Occurrence Under a CGL Policy
- Pesticides Aren’t Always “Pollutants”
- Prior Publication Exclusion
- Rummy’s Rules - The Duty To Defend And Abu Ghraib
- Taxonomy - Tort Or Contract
- The Seventh Circuit is Once Bitten, Not Shy
- The Sweet Smell of Success — CGL Policy Affords Contractor a Defense
- Third Circuit Holds that Drunkenness Does Not Render an Intentional Act Accident
- Waiver and the Forum Selection Clause
- “Here Comes That Sinking Feeling” - CGL Insurer Must Defend its Insured Against a Claim for Defective Foundational Repairs
- D&O Insurance
- Duty to Defend
- Assigning an Interpretive Mulligan to an Asbestosis Exclusion
- CGL Policy Provides No Duty to Defend Against Qui Tam Suit
- Equitable Estoppel and Reservation Of Rights
- Excavating the Contractors' and Subcontractors' Exclusion
- General Contractor Owed a Defense as an Additional Insured
- Hawaii Five-O: Ninth Circuit Certifies to the Hawaii Supreme Court the Issue of the Scope of the Total Pollution Exclusion
- Insured has no Right to Independent Counsel
- Latent Ambiguity Inheres in the Phrase "Written Notice of a Claim"
- Liability for Defective Nutritional Supplements Excluded by Contractual Liability Exclusion
- Liability Insurer Owes No Defense to an Insured Under Personal and Advertising Injury Liability Coverage Where the Underlying Suit Alleges Intentional Conduct
- New Math — 469,000 Defective Product Claims Constitutes One Occurrence Under a CGL Policy
- Pesticides Aren’t Always “Pollutants”
- Pragmatism and Semantics: “One Morning I Shot an Elephant in my Pajamas. How He Got into my Pajamas I Will Never Know.”
- Prior Publication Exclusion
- Taxonomy - Tort Or Contract
- The Seventh Circuit is Once Bitten, Not Shy
- The Sweet Smell of Success — CGL Policy Affords Contractor a Defense
- Third Circuit Holds that Drunkenness Does Not Render an Intentional Act Accident
- Veterinarian Owed Duty To Defend Under A Professional Liability Policy
- Will the Real Slim Shady Please Stand Up?
- “Here Comes That Sinking Feeling” - CGL Insurer Must Defend its Insured Against a Claim for Defective Foundational Repairs
- E&O Insurance
- Claims Made Coverage Requires that a Claim Both be Paid and Reported Within the Policy's Coverage Period
- Insurer's Coverage File is not Subject to Either the Work-Product Doctrine or the Attorney-Client Privilege
- Posner on Claims Made Coverage — “It Would Be Odd to Say that the Federal Appellate Judiciary 'Arose From' Columbus's Voyages”
- Speak of the Devil
- True Blood: Southern District of New York Rules Statute of Limitations Bars Milberg's Professional Liability Insurers' Action for Rescission
- Veterinarian Owed Duty To Defend Under A Professional Liability Policy
- EPLI
- ERISA
- Conflicting Opinions on Conflict Discovery
- Eleventh Circuit Adopts Davila, the Supreme Court's ERISA Preemption Test
- ERISA, Glenn, and Legal Realism
- Jesuitical - ERISA, Complete Preemption, Federal Question Jurisdiction, and Removal
- May Day: The Eighth Circuit Relaxes Constitutional Standing and the Twombly-Iqbal Pleading Standard in ERISA Cases
- Seventh Circuit Court of Appeals Still “Pondering” Conflict Analysis
- Sophistry and Glenn
- Excess Insurance
General Posts
- Insurance Industry
- Insurance Regulation
- "Truckin' Got My Chips Cashed in" — Tenth Circuit Joins the Majority in Recognizing the MCS-90 Endorsement as a Surety Obligation
- In the Inimitable Words of Monty Python - “And Now for Something Completely Different”
- Self-insured companies now must report to Medicare before settling a liability claim brought by a Medicare recipient
- Named Insured/Additional Insured
- Notice of Loss
- Policy Interpretation
- Pollution Exclusion
- Property Insurance
- A Pragmatic Approach To Notice Of Loss
- A Synonym Does not Suffice
- Eat a Peach – Open Peril Insurance Policy Affords Coverage for Rain Damage
- Fifth Circuit Rejects an Attempt to Evade a Settlement Agreement Under the Mississippi Hurricane Katrina Mediation Program
- Four Years of Katrina Coverage Litigation
- The Dodo Bird Lives – Insured Wins A Katrina Case
- Wash Out — Flood Exclusion Excludes Storm Surge Claim
- “Anti-concurrent cause” provision gets watered down by the Mississippi Supreme Court in yet another Hurricane Katrina case
- Reinsurance
- Reservation of Rights
- Self Insured Retention
- Terrorism Risk Assurance
- Title Insurance
Archives
- March 2010 (2)
- February 2010 (1)
- January 2010 (3)
- December 2009 (5)
- November 2009 (2)
- October 2009 (9)
- September 2009 (32)
- August 2009 (25)
