Content from L.S. Howard
AXA Reverses Course, Offering Settlement Addressing COVID-19 BI Claims for French Restaurant Owners
AXA has offered a settlement to 15,000 French restaurant owners that purchased non-damage business interruption insurance after previously denying coverage during the 2020 COVID-19 lockdowns. AXA ...
Argo Group, Joining Other Carriers, Ends Coverage of Canada’s Trans Mountain Pipeline
Lloyd's insurer Argo Group has decided to stop insuring Canada's Trans Mountain tar sands pipeline when its current insurance policy expires on Aug. 31, 2021, following similar moves by other ...
Insurers Get Low Grades on Climate Change, Biodiversity Loss Action
Most of the world's largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss, but a group of five U.S. insurers are some of those that rank the ...
COVID Took a Big Bite From Multiline Insurers’ Earnings But Profit Remained: S&P
The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global ...
Fake Coal Dumped in Front of Lloyd’s HQ in Climate Change Protest
Lloyd's of London was the focus of climate change activists on Friday, when a group called "Insurance Rebellion" used a dump truck to deposit a large pile of fake coal in front of the Lloyd's ...
Catastrophes Cost Insurers $89 Billion in 2020: Swiss Re’s Sigma
Natural and man-made catastrophes cost the insurance industry $89 billion in 2020 – the fifth costliest year since 1970, according to a report from Swiss Re's sigma. Of that total, $81 billion ...
UFG Insurance Will Diversify Risk Profile Through U.S. Reinsurance Expansion
UFG Insurance is looking to diversify across the U.S. by expanding into assumed reinsurance business – partly via quota share arrangements, such as the recently announced deal with Topsail Re, a ...
Reinsurers Will Seek More Rate Hikes After ‘Good’ January Renewals: S&P
Global property and casualty reinsurers saw "good" rate increases during the January 2021 renewals but they came up short of a hard market, dashing reinsurers' hope of a strong start for 2021, ...