Following the COVID-19-induced slowdown in global insurtech investment during the first months of 2020, insurtech firms raised $1.56 billion during the second quarter. The total, up 71% over Q1, was driven in part by later-stage investments, including four “mega-rounds” in …
The number of outright failures of U.S. small businesses in the first months of the coronavirus pandemic was comparatively modest, but the months ahead look far grimmer as cash balances dwindle, federal help expires, and the disease surges back. That …
Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural disasters across the globe …
A little more than half (51%) of independent insurance agencies and brokerages say they have some sort of digital strategy in place, with larger firms more likely than smaller to have one. That’s according to insurance technology company Applied Systems …
Preliminary estimates indicate that deaths from motor vehicle accidents fell in May but the death rate per miles driven jumped considerably. According to the National Safety Council, it was the third month in a row when there were fewer deaths …
Cyber insurers have been enjoying a profitable run for several years but are now facing a changed risk landscape with data breaches, ransomware attacks, insurance claims and overall threat awareness increasing. In a report, “Cyber Insurance: Profitability Less Certain as …
The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The figure is based on …
The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a report. Central bank intervention has reversed much of …
Canada saw powerful a series of powerful thunderstorms in June, which brought hail greater than the size of tennis balls and caused extensive damage and flooding throughout the greater Calgary metro region, said Aon in its monthly Global Catastrophe Recap …
As the 2020 hurricane season gets underway, emergency officials pay attention to the growing share (29%) of the U.S. population in the nation’s 255 coastline counties. They’re also looking at ways to minimize the impact of a hurricane on coastline …
