The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event for the reinsurance industry, according to Fitch Ratings. This event will reduce global reinsurers’ earnings but should not materially affect …
ISMAILIA, Egypt – Shipping was on the move again late on Monday in Egypt’s Suez Canal after tugs refloated a giant container ship which had been blocking the channel for almost a week, causing a huge build-up of vessels around …
BERLIN – The container ship blocking the Suez Canal could cost global trade $6 billion to $10 billion a week, a study by German insurer Allianz showed on Friday. The study by Europe’s biggest insurer also found that each week …
Analysts at Assured Research delivered some surprises in a report on property/casualty insurance industry loss reserves Monday, finding that reserves are $28 billion redundant and predicting that some hard market pricing will stabilize or diminish this year. That industry loss …
The U.S. will reach herd immunity threshold when more than 71% of the U.S. population has been exposed to COVID or effectively vaccinated against it, most likely by mid-summer, says a management consultant firm that has been tracking COVID cases. …
February saw a spate of winter storms in the United States, including the period from Feb. 12-20, which will become the U.S. insurance industry’s costliest winter weather peril on record, according to insurance broker Aon plc in its monthly Global …
The wave of COVID-19 claims that hit the California workers’ compensation system at the end of 2020 has subsided for the time being as the number of claims reported to the state Division of Workers’ Compensation for February fell to …
Adaptive cruise control systems on cars, which control braking and speed, raise the risk of traffic crashes because the technology leads drivers to go faster, a U.S. study found on Thursday. The Insurance Institute for Highway Safety found that drivers …
After a dramatic downturn in the second quarter of 2020 due to the coronavirus pandemic, merger and acquisition (M&A) deal volume soared to record highs in the second half of the year. This was mirrored in growth of transactional risk …
A new study shows that nonsteroidal anti-inflammatories (NSAIDs) now account for more than one-third of all drugs dispensed to injured workers in California, triple the proportion for opioids. A study from the California Workers’ Compensation Institute released on Wednesday also …
