Commercial Lines

Despite COVID Losses, Lloyd’s Underlying Underwriting Results See Big Improvement

While Lloyd's overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market's underlying underwriting performance saw a "huge improvement," which Chief ...

Ransomware Attacks Soar and Grow More Malicious: Coalition

Ransomware attacks grew by nearly 50 percent in the 2020 second quarter compared to the first three months of the year, underscoring the risks created by pandemic-related work-from-home requirements, ...

Swiss Re’s Risk Radar

Swiss Re's annual SONAR report, published in early June, highlights 14 emerging risks that will impact different sectors of the insurance industry in different time frames. The accompanying chart ...

Executives On The Move at Guy Carpenter, AIG and Chubb

Guy Carpenter appointed a Marsh veteran to the newly created role of president. AIG announced the appointment of a new CEO for Talbot Underwriting Ltd. Chubb named a new regional president for its ...

Department Store Blames Unresolved Business Interruption Claims for Causing Bankuptcy

Century 21 Stores, an iconic New York off-price department store chain, filed for bankruptcy with plans to shut down, becoming the latest victim of the retail industry carnage that's accelerated ...

Some Fear California’s Latest Wildfires Could Spark a Financial Crisis

Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets, an advisory ...

Greenlight Re Triggers ‘Refresh’ of Operations With Executive Changes

Greenlight Capital Re made some major executive changes in what the company is dubbing a "refresh" of its operations. The Cayman Islands-based specialist property and casualty reinsurance company ...

Lloyd’s Records $520M H1 Loss Stemming From COVID-19 Claims

Lloyd's of London recorded a pretax loss of 400 million pounds ($520.08 million) in the first half, battered by the coronavirus pandemic, the commercial insurance market said on Thursday. Insurers ...