The nation’s largest property/casualty insurance organization is defending ransom payment reimbursements by insurers in a new set of principles stressing that the insurance industry wants to partner with government and business to improve cybersecurity. The insurers say they “must be …
In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the industry dealt with the …
There aren’t many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses discovering they weren’t covered. It’s resulted in courts packed with …
If Republican President Donald Trump wins re-election, the property/casualty insurance industry is not likely to see much change from the status quo in Washington. If Democrat Joe Biden wins the presidency, however, the P/C insurance industry can expect a flurry …
The American Property Casualty Insurance Association of America (APCIA) elected new officers, effective January 1, 2021. Greg Crabb, president and CEO of Amerisure Companies, was elected as APCIA’s chair. Crabb joined Amerisure in April 2008 as chief administrative officer with …
U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 …
Roger Federer and Rafael Nadal locked in spell-binding battle. Paul McCartney sharing a stage with Kendrick Lamar and Taylor Swift. The long-awaited 32nd Olympic Games. The list of canned crowd-thrillers that were planned for the coming weeks isn’t just bad …
Key segments of the property/casualty insurance industry, which is facing mounting claims for business interruption losses from the pandemic, have thrown their lobbying weight behind a proposed federal program to replace revenues lost by businesses shut down during pandemics like …
Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the Terrorism Risk Insurance Act as some have urged. …
The property/casualty insurance industry has joined a broad business coalition in supporting and crafting a new federal relief fund for businesses and workers affected by the quarantine and stay-at-home measures necessitated by the coronavirus crisis. The new relief vehicle, the …
