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Midwestern carriers seek reinsurance back-ups after derecho

EMC and Church Mutual turn back to reinsurers after devastating wind losses.

Structures damaged or destroyed include the Meadowood Napa Valley resort and Medieval-style winery Castello di Amorosa.

BMS plans to expand into the retro sector but will avoid being drawn into bidding "frenzy".

The deal will come into effect on 1 October, with the specialty player's gross lines likely to scale up by a quarter.

Retro structural change will provide a lot of the gains in 2021, with trapping negotiations complicating the mix.

Nearly 1,000 insurance disputes over pandemic coverage were filed by the end of July, according to data highlighted by sister title Inside P&C.

With the fundraising season approaching, tensions are rising over several points of dispute.

Early Q2 forecasts show Covid-19 losses well short of initial hit to carriers from 2017 hurricanes.

Covid-19 and ILS strategies: locking down diversification benefits.

Climate change and ILS strategies: reshaping the market's response