Claims / Legal
COVID-19 Knocks U.S. Inland Marine Insurance Behind in 2020: A.M. Best
The U.S. inland marine insurance segment experienced a "significant downturn in profitability" in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, ...
Insurer Representing Grounded Suez Ship Appeals Detention by Egypt
UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by ...
Unemployment Scam May Be Part of GEICO Data Breach
Auto insurer GEICO recently reported that fraudsters have been stealing license numbers of its customers for the past few months and possibly using them to fraudulently apply for unemployment ...
Reinsurers Still Made Money in 2020 Despite Catastrophe and Investment Losses: Aon
Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well as compromised investment returns, a group of reinsurers studied by Aon reported positive ...
The Hartford CEO Swift: Optimistic About BI Claims and Pandemic Fading
The Hartford CEO Christopher Swift expressed confidence that the property/casualty insurer has weathered the worst of the COVID-19 pandemic and said related concerns about business interruption ...
White House Unveils 100-Day Plan to Protect Power Grid From Cyber Attacks
The White House unveiled on Tuesday a 100-day plan intended to protect the U.S. power grid from cyber-attacks, mainly by creating a stronger relationship between U.S. national security agencies and ...
$50B California Court Case Over ‘Deadly Legacy’ of Opioids Begins
Four drugmakers helped cause the deadly U.S. opioid epidemic by deceptively marketing their drugs and downplaying their addictive risks, a lawyer for several California counties argued on Monday at ...
Premium Givebacks Among U.S. P/C Insurers in 2020 Reached $13B: AM Best
U.S. property/casualty insurers returned nearly $13 billion in premiums in 2020 thanks to reduced exposures from the COVID-19 pandemic, AM Best said in new commentary. What's more, a sizable part of ...