covid-19 claims News

Reinsurer SCOR Reports H1 Loss of €239M Blamed on Ukraine War, Natural Disasters

Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …

Covid-19 Led to 20% Increase in Texas Workers’ Comp Claims

The number of workers’ compensation claims reported to the Texas Department of Insurance, Division of Workers’ Compensation (DWC) increased 20% during the first 27 months of the COVID-19 pandemic (January 2020 through March 31, 2022) compared to the prior 27 …

Texas Workers’ Comp Division Reports 78K COVID-19 Claims

The Texas Department of Insurance, Division of Workers’ Compensation (DWC) reported more than 78,000 COVID claims and 422 fatalities as of Feb. 6, 2022. DWC’s March report, “COVID-19 In The Texas Workers’ Compensation System,” is based on a data call …

Workers’ Compensation Numbers Indicate Strong Performance During 2020 Pandemic

Because of job losses and shrinking payrolls during the pandemic recession, the workers’ compensation industry’s net written premium dropped 10% to $42 billion in 2020. However, private insurers posted a profitable calendar year combined ratio of 87, the industry’s fourth …

Report: Texas Work Comp Insurers See More than 44K COVID-19 Claims by Mid-February

An updated report on workers’ compensation claims in Texas related to COVID-19 shows that as of Feb, 14, 2021, insurance carriers reported more than 44,000 COVID-19 claims and 200 fatalities to the state’s workers’ compensation division. The report, COVID-19 in …

Insurers Don’t Have Capacity to Handle Systemic Pandemic Risk: Generali CEO

MILAN – Europe’s insurance industry doesn’t have the capacity to deal with the systemic risk of a pandemic and more protection needs to be put in place through private-public partnerships, the head of Italian insurer Generali said on Thursday. Speaking …

AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion

AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in full-year 2019. The combined ratio for AXA’s P/C business increased 3.2 points to 99.5%, largely reflecting the impact from COVID-19 …

It Could Have Been Worse. An Update on COVID-19 Impact on Workers’ Compensation.

While it obviously presented challenges, 2020 is looking like it may not have been such a bad year for workers’ compensation insurers and insureds after all. Insurers took in less premium but paid fewer claims. They managed to one of …

How COVID Effect on Workers’ Compensation Claims Has Varied by State, Industry

The percentage of COVID-19 claims among all workers’ compensation paid claims has varied greatly among states and occupations, as has the decrease in non-COVID claims, new research shows. The percentage of COVID-19 claims among all workers’ compensation paid claims ranged …