Reinsurance
COVID-19 Rulings Are Moving to Appellate Courts; Insurers Mostly Ahead to Date
A wave of litigation over business-interruption losses caused by COVID-19 shutdown orders has started splashing into the appellate courts. Appeals of trial court decisions in at least 11 lawsuits ...
Zurich North America Starts Marketing Construction Weather Parametric Insurance for Contractors
Zurich North America is launching Construction Weather Parametric Insurance for project owners and contractors. The coverage, according to the insurer, is designed to fill a gap created by more ...
South African Insurer Accepts Liability for Some Rejected COVID-19 Business Interruption Claims
South African insurer Santam will begin assessing payouts for some previously rejected coronavirus-related claims after recent court judgments on such cases but still intends to challenge one finding ...
Aviation Reinsurance Jan. 1 Renewal Rates Climb Up to 250 Percent
Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two ...
CNA Unloading $690M of Excess Comp Reserves to Enstar
In separate announcements late Wednesday, CNA Financial Corp. and Enstar said they had reached an agreement to have a subsidiary of Enstar reinsure a legacy portfolio of excess workers comp policies, ...
2020 InsurTech VC Financings: Only A Handful Reached $100M or More
Carrier Management covered more than 30 property/casualty-specific InsurTech venture capital financings in 2020. The rough total of those combined investments surpasses approximately $1.7 billion. ...
W.R. Berkley Forms Bermuda-Based Special Purpose Reinsurer
W.R. Berkley Corp. announced the formation of Lifson Re Ltd., a special purpose reinsurer registered in Bermuda and licensed by the Bermuda Monetary Authority. Lifson Re has been capitalized with ...
Cyber Remains Viable for Insurers Even as Attacks Escalate
It could go down as one of the most significant cyber attacks yet. Russian hackers breached a number of U.S. government agencies and dozens of private businesses through a tainted update downloaded ...