Insurer RSA Says Pandemic Exclusions Will Limit Impact of England’s 2nd Lockdown November 5, 2020 By Carolyn Cohn England’s second national lockdown is unlikely to have much impact on insurer RSA as many policies now have pandemic-related exclusions,...
UK Supreme Court to Hear Appeal of COVID Business Interruption Test Case on Nov. 16 November 3, 2020 The UK Supreme Court will hear an appeal on Nov. 16 of the Financial Conduct Authority’s (FCA) test case over...
It Would Take P/C Insurers 150 Years to Pay COVID-19 Business Interruption Losses October 30, 2020 By L.S. Howard The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the...
More Companies Turn to Captives as Rates Rise, Terms & Conditions Tighten October 26, 2020 By Carolyn Cohn Fed up with rising prices and more stringent terms and conditions for their insurance policies as a result of the...
Insurers Drop Appeal Against UK Court Ruling on 3 COVID Business Interruption Policies October 22, 2020 By Sinead Cruise Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims...
Munich Re Reports €800M of COVID-19-Related Losses During Q3 October 21, 2020 Munich Re reports approximately €800 million (US$935 million) in COVID-19-related losses in reinsurance during the third quarter. The losses were...
Arch Capital Group Estimates Q3 Natural Catastrophe Losses of $190M-$210M October 14, 2020 Arch Capital Group Ltd. estimates its pretax third quarter natural catastrophe losses could range from $190 million to $210 million....
Lloyd’s Reviews Product Design of Insurance Contracts in Response to COVID-19 October 12, 2020 Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in...
How Coronavirus Is Changing Claims, Risks, Work, Habits, Supply Chains and More October 7, 2020 The magnitude of the COVID-19 pandemic as an economic loss events is unprecedented for companies and insurers alike and claims...
The New Digital Normal and the Future of Work in Reinsurance October 6, 2020 By L.S. Howard It’s been said that necessity is the mother of invention. That proverb was illustrated perfectly during the insurance industry’s successful...