Tag: COVID-19

July 15, 2021

A new report from global reinsurance company Swiss Re suggests that a strong economic recovery from the COVID-19 pandemic will drive insurance market premiums much higher, lifting them to a record almost US $7 trillion by the end of 2021. […]

June 1, 2021

According to a new report from Bloomberg, the cumulative cost of COVID-19 claims for the largest life reinsurers hit $4.4 billion in the first quarter of the year as mortality rates spiked. The biggest costs for life reinsurers came from […]

May 25, 2021

According to a National Association of Insurance Commissioners (NAIC), the US insurance industry reported a total of $7.5 trillion in total cash and invested assets at the end of last year, showing an increase of 7.7% compared to 2019. The […]

May 13, 2021

According to a new insurtech report from Capgemini and Efma, policyholders have become more cautious when taking out insurance, resulting in the need for insurers to empower their distribution network with newer technologies. As natural disasters and emerging risks have […]

April 26, 2021

The insurance industry has been under intense pressure over the last 12 months, hit by a double whammy of the COVID-19 pandemic and a rapidly hardening market. Yet many insurance professionals have not just risen to the challenge, they have […]

April 21, 2021

Analysts at Aon have reported that global reinsurer capital increased by 4% year-on-year to a new high of $650 billion at the end of 2020. According to Aon, the increase was driven by strong capital market recovery from the COVID-19 […]

April 7, 2021

Losses and IBNR reserves related to the COVID-19 coronavirus pandemic reported by major insurance and reinsurance companies have risen significantly during the first-quarter of 2021, with the total pandemic loss reported now nearing $38 billion, having risen by 21% during […]

April 2, 2021

There’s working in your pajamas. Trouser-less Zoom sessions. The absence of road rage. And now this: The German Insurance Association says they are noticing significantly fewer home burglaries with more people working from home in the COVID-19 pandemic. Break-ins fell […]

March 31, 2021

The Lloyd’s of London insurance and reinsurance market reported a £0.9bn loss for 2020 after significant impacts from the COVID-19 pandemic dented performance, despite significant reinsurance recoveries. In total, Lloyd’s reported an aggregated market loss of £0.9bn for 2020, down […]

March 23, 2021

The COVID-19 pandemic has so far not had any notable impact on the workers compensation residual market, according to research released Monday by the National Council on Compensation Insurance. Boca Raton, Florida-based NCCI compared the current residual market with 2019, […]

February 19, 2021

The insurance and reinsurance industry is likely to experience a “transition year” in 2021, as its recovery from the impacts of the COVID-19 pandemic continues, alongside reducing exposure to it from property and casualty (P&C) contracts, analysts at RBC have […]

February 17, 2021

The Supreme Court of the state of New York, Nassau County, has dismissed a movie theater’s claims that its insurer is responsible for covering its COVID-19 related losses and that its insurance brokers were negligent in providing insufficient coverage. This […]

February 12, 2021

Specialty insurer and reinsurer Brit has suggested that the COVID-19 pandemic could “significantly exceed” the $107 billion claims estimate predicted by Lloyd’s last year. The comments contrast with the view of some other analysts, such as those at Berenberg, who […]

February 11, 2021

Wyoming has the cheapest car insurance in the country, according to a new study from WalletHub. WalletHub’s study looked at the states with the cheapest and most expensive car insurance. It also examined Americans’ opinions on driving, car ownership, and […]

February 8, 2021

Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of Futureset, a new platform and community designed to drive greater societal and economic resilience to some of the largest and most complex global risks. The platform will bring […]

February 4, 2021

Hannover Re gave its report on the January 2021 reinsurance renewals today, citing around 10% price improvement across U.S. natural catastrophe reinsurance business, while across its book renewed business was subject to price increases of 5.5% and premium volumes rose […]

February 2, 2021

In our original first alert about COVID-19 business interruption insurance coverage that we authored at the pandemic’s outset, we predicted extreme rigidness by insurance companies and coverage denials galore. Regrettably for policyholders, our prediction came true, with myriad insurance coverage […]

February 1, 2021

A number of insurance-linked securities (ILS) funds have continued to report small increases in losses and reserves set related to business interruption claims from the Covid-19 pandemic, we understand, which continued to weigh on results over the last two months. […]

January 29, 2021

Insurance Business America (IBA) magazine has just released its 2021 Top Specialist Brokers list spotlighting 42 of the country’s most impressive individuals that found success through specialization. Whether it’s delivering communicable disease coverage and cyber policies for the COVID-19 era, […]

January 28, 2021

Global insurtech investment reached a record $7.1 billion in 2020 despite substantial challenges to the re/insurance sector, according to a new report by Willis Towers Watson. A total of 377 deals were completed throughout the year, the most in any […]