Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Chubb CEO Greenberg Warns Retroactive Measures Would ‘Bankrupt’ Insurance Industry
Apr 16 2020 // Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses. “The insurance industry is a fundamental part of the...
Despite Insurance Industry Concerns, More States Introduce COVID-19 BI Bills
Apr 15 2020 // New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that...
Trump Tells Insurers to Pay Virus Claims If Pandemics Not Excluded
Apr 14 2020 // President Donald Trump has staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay. Trump spoke about the issue for a minute and a half during...
How P/C Insurance Industry Can Maximize Its Response to Coronavirus: Crisis Manager
Apr 13 2020 // “I’m shocked, just shocked that you’re suggesting that during a crisis that insurance companies might in fact be considered the villains. I’ve never heard that before.” That’s Richard...
4 Ways COVID-19 Will Change Cannabis and Insurance
Apr 9 2020 // One may not need to be able to read the cannabis leaves to divine the impact of the COVID-19 pandemic on cannabis and insurance. Some good guesses from any insurance professional with their foot in the door of a...
How U.S. Insurance Industry Deals Fared in February
Apr 7 2020 // Financial deals in the U.S. insurance industry dropped off 8% during February 2020 compared with the last 12-month average. According to GlobalData’s deals database, a total of 46 deals worth $3.27 billion were...
Insurance Veteran Kevin Brooks Passes Away Due to COVID-19 Complications
Apr 7 2020 // Insurance industry veteran Kevin P. Brooks passed away on April 3, 2020, due to complications of COVID-19. Brooks had a long and successful career in the insurance industry, focusing on wholesale, specialty and surplus...
P/C Insurance Industry Backs New Government Fund to Help Businesses, Workers Hurt by Coronavirus Shutdowns
Mar 31 2020 // 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...
Massachusetts Joins Ohio, N.J. in Proposing COVID-19 Business Interruption Bill
Mar 31 2020 // Massachusetts is one of the latest states to propose legislation that would mandate insurers cover COVID-19 related business interruption claims despite virus exclusions in many policies. This comes as Insurance Journal...
P/C Insurers Put a Price Tag on Uncovered Coronavirus Business Interruption Losses
Mar 30 2020 // The property/casualty industry estimates that business interruption losses from the coronavirus just for small businesses in the U.S. could be between $220-$383 billion per month — or a quarter to half of the total...
How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London
Mar 30 2020 // Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they...
From Free Coverage to Medical Masks. P/C Insurers Deliver Some Good News.
Mar 30 2020 // While the property/casualty insurance industry is fighting attempts to force it to pay for the huge business income losses that it says most policies were never intended to cover, some individual insurers are finding small...
North Carolina, Georgia Regulators: Insurance Is Essential Business
Mar 27 2020 // Regulators in North Carolina and Georgia are clarifying that insurance is considered an essential business as states move to limit what industries remain open during the current coronavirus outbreak. On March 24, North...
Nicolopoulos Confirmed as New Hampshire Insurance Commissioner
Mar 23 2020 // The New Hampshire Insurance Department has announced that Chris Nicolopoulos was confirmed by the New Hampshire Executive Council as insurance commissioner succeeding John Elias, who resigned in December less than two...
How to Manage Risk in a Hardening Market
Mar 23 2020 // A financial market that’s in correction territory, coronavirus pandemic fears and an insurance industry hard market for the first time in years. Are these issues related or becoming more so? What’s an insured...
Pressure Builds on Insurers to Be Part of Coronavirus Business Solution
Mar 20 2020 // While legislators in Washington and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty...
Turning 50, Invest High School Program Eyes Apprenticeships for Independent Agencies
Mar 19 2020 // Powered by InsuranceJournal.tv A new apprenticeship program aimed at attracting and developing talent in the independent agency system is being rolled out by an insurance education organization that celebrates its 50th...
Proposed N.J. Bill Would Require Insurers to Pay COVID-19 Business Interruption Claims
Mar 19 2020 // A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the constitutionality of legislation...
RMS Appoints Steel as Global Head of Business Development
Mar 16 2020 // RMS, the catastrophe risk modeling company, announced the appointment of Michael Steel as global head of Business Development, joining the RMS Executive Committee. Steel first joined RMS in 2016 to help drive innovations...
Swiss Re Launches Digital Market Center Supported by Microsoft Data Analytics, AI Tools
Mar 12 2020 // Swiss Re has formed a strategic alliance with Microsoft Corp., which is providing digital tools to support Swiss Re’s new Digital Market Center. The Digital Market Center is designed to help develop next-generation,...
