Reinsurance
P/C Insurers Writing Event Cancellation Business Could Face Major Losses: A.M. Best
Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak ...
Lloyd’s of London Returns to Pretax Profit, Claims Readiness for Coronavirus Costs
Lloyd's of London reported its first annual pretax profit in three years on Thursday, thanks to tighter underwriting and robust investment returns, and signaled it was well prepared to cope with the ...
Most P/C Insurers Will Weather Ongoing COVID-19 Storm: Standard & Poor’s
Most P/C insurers will be able to weather any financial market volatility and higher claims relating to COVID-19, S&P Global Ratings predicts in a new report, though it warns some carriers with ...
The World’s Weather Forecasts Are Weakened as Pandemic Idles Airplane Flights
The pandemic that has idled scores of commercial flights is having a little-noticed consequence for meteorologists, whose forecasts rely in part on data collected from planes. That means a crucial ...
Lloyd’s, AIG, AXA Sued by Native American Casino Owner Over Coronavirus Losses
A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are ...
Insurers Gain Reprieve With Olympics Delay Rather Than Cancellation
Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a ...
Insurers Know They’re Essential, and Coronavirus Business Shutdowns Prove It
Insurance industry professionals might take some pride in knowing that they are considered essential. In states where only essential businesses are allowed to keep operations going during the ...
Fitch Downgrades Outlook for London Insurance Sector Over COVID-19 Impact
Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the ...