UK Regulator Announces Pandemic Relief Measures for Insurance Customers May 15, 2020 The Financial Conduct Authority (FCA) announced a set of measures to help insurance customers who may be suffering financial difficulties...
Zurich Insurance Estimates Coronavirus Pandemic Claims to Hit $750 Million for 2020 May 14, 2020 By L.S. Howard Zurich Insurance estimates that the overall property and casualty (P&C) claims from the COVID-19 pandemic will be in the region...
Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks May 14, 2020 By L.S. Howard Lloyd’s of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result...
Fitch Sees Little Stress on Insurer Ratings From Pandemic. Thus Far. May 14, 2020 By Andrew G. Simpson Having reviewed 70% of all of the North American insurers it rates for the effects of the coronavirus and economic...
UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance May 13, 2020 By L.S. Howard The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit...
Insurers Must Re-Think Pandemic Response or Risk Reputational Damage: UK’s Airmic May 12, 2020 Airmic, the UK association for risk and insurance professionals, has urged the insurance market to adopt a more responsible and...
Commercial Insurance Rates in Q1 Rise 14%, Even Before Impact of COVID-19: Marsh May 12, 2020 Global average commercial insurance prices increased 14% in the first quarter of 2020 – but the rate hikes were not...
For Global Insurers, Pandemic Likely to Erase Profits Until 2021 Second Half: Fitch May 11, 2020 While insurance rates have risen for nine consecutive quarters due to large catastrophe losses and accelerating claims inflation, Fitch Ratings...
National Governments Must Help Provide Insurance for Future Lockdowns: EU Regulator May 11, 2020 By Huw Jones National governments must help provide insurance cover for future lockdowns, the industry’s European Union regulator said on Monday, as the...
Q1 Insurtech Fundraising Drops 54% on COVID-19 Disruption: Willis Towers Watson May 8, 2020 Overall funding for insurtech investments decreased by 54% during the first quarter as a result of the COVID-19 crisis, compared...