Workers’ compensation underwriters are about to be tested in the marketplace like never before. While the current situation is not all because of the pandemic, the pandemic has “put gas on a fire that was already burning,” according to a …
Approximately $11 billion of property catastrophe bond limit was placed in 2020, the highest on record, according to a new Aon report that projects the growth momentum will continue in 2021. While the year was a record for cat bond …
Global commercial insurance prices increased 22% in the fourth quarter of 2020, according to the Global Insurance Market Index released by insurance broker Marsh. The increase, the largest since the index was launched in 2012, follows average increases of 20% …
The vast majority of U.S. small businesses took a hit to their revenue last year because of the coronavirus pandemic, with minority-owned businesses struggling the most and worrying more about accessing credit, according to a Federal Reserve survey released on …
As far as climate groups like the Sunrise Project are concerned, getting insurers out of the coal underwriting business is the most important thing they can do. No more insurance, no more coal. It’s something Sunrise has been pushing for …
While most of the COVID-related problems that plagued UK commercial property insurers will abate after the March anniversary of lockdowns, battles with reinsurers and damaged reputations are lingering impacts, AM Best said. In a commentary report, “UK Commercial Property Insurers—Looking …
Climate change is causing oceans to rise quicker than scientists’ most pessimistic forecasts, resulting in earlier flood risks to coastal economies already struggling to adapt. The revised estimates published Tuesday in Ocean Science impact the two-fifths of the Earth’s population …
Cyber criminals shifted away from stealing individual consumers’ information in 2020 to focus on bigger, more profitable attacks on businesses, according to a report from the Identity Theft Resource Center. The nonprofit, which supports victims of identity crime, found that …
After a slow start in 2020, insurtech funding reached a record level of $7.1 billion for the year, with $4.7 billion earmarked for property/casualty startups, according to a quarterly tracker of insurtech funding volume. According to the latest quarterly insurtech …
Losses from cryptocurrency theft, hacks and fraud fell 57% last year to $1.9 billion, as market participants boosted security systems, but crime in the “decentralized finance” space continued to grow, a report from crypto intelligence company CipherTrace showed. Criminals got …
