Industry News
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 ...
Colonial Pipeline Attack Spurs Energy Company Quest for Cyber Insurance
U.S. energy companies are scrambling to buy more cyber insurance after this month's attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan ...
Risk Alerts: Intellectual Property and Safety Risks for Cannabis Edibles
As more states have legalized recreational marijuana, the edibles market has seen a surge. But the choice by many manufacturers to market their products as candy look-alikes has opened the door for ...
Chubb Awards $1.1M in New Philanthropic Grants to Fight Racism
Chubb said it is strengthening its efforts to fight racism in America's justice system through $1.1 million in new philanthropic grants. The money is divided into four grants designed to promote ...
Executives On The Move at Hamilton, Aspen and Markel
Hamilton Insurance Group, Ltd. appointed a new Head of Allied Medical for its U.S. excess and surplus (E&S) business. Aspen Insurance Holdings Limited named a new Group Chief Actuarial Officer. ...
Auto Insurance Shopping Rates Up for Q1 2021 Despite Slow Start: LexisNexis
A devastating winter storm and delayed tax returns hampered auto insurance growth rates in February, but a surge in March led to significant year-over-year increases for both shopping and new ...
U.S. P/C Insurance Customers Aren’t Too Happy With Digital Improvements: J.D. Power
Property/casualty insurers, particularly after a year of pandemic-related quarantines, are increasingly shifting to digital distribution channels. Customers aren't particularly happy with the ...
Congress Is Exploring the Idea of Federal Reinsurance for Cyber-Terrorist Attacks
A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup provided by the federal Terrorism Risk Insurance Program (TRIP) is adequate for ...