The COVID-19 pandemic comes with one bright spot for workers’ compensation insurers: Fewer workers are being injured in motor vehicle accidents. A research brief issued by the National Council on Compensation Insurance projects that workers’ compensation claims caused by motor …
AM Best believes local companies in the Philippine insurance industry will still face significant pressure on underwriting growth and profitability amid the ongoing COVID-19 pandemic with the recent rejection of a proposal to relax minimum capital requirements. A new Best’s …
Many COVID-19 survivors are likely to be at greater risk of developing mental illness, psychiatrists said on Monday, after a large study found 20% of those infected with the coronavirus are diagnosed with a psychiatric disorder within 90 days. Anxiety, …
Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume declines in 2021, according to Fitch Ratings. The operational and risk …
Global commercial insurance pricing rocketed 20 percent higher on average in the 2020 third quarter, driven largely by rate hikes in three key lines, according to a new Marsh market update. Marsh said the jump was the largest since launching …
The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its handling in 2020. P/C insurers currently collect US$1.6 trillion …
A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has helped reinsurers tolerate the economic …
A new artificial intelligence-based score considers multiple factors to predict the prognosis of individual patients with COVID-19 seen at urgent care clinics or emergency departments. The tool, nicknamed CoVA, was created by investigators at Massachusetts General Hospital (MGH) and can …
Insurtech funding saw the largest number of deals and the highest amount of funding since data recording into insurtech began, with $2.5 billion raised by insurtech firms across 104 deals during the third quarter, according to a report published by …
There were 170 announced insurance agency mergers and acquisitions during the third quarter of 2020 compared to 173 for the same period in 2019, according to a report from consulting firm OPTIS Partners. The Chicago-based firm said deal activity was …
