Industry News
Weather Risks Could Become Uninsurable Without Acting on Climate Change: Swiss Re
Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty in the assessment of these events by the insurance industry, which ...
UK Insurers Cancel More Than $1.2B in Dividends Over Coronavirus Worries
British insurers canceled more than 1 billion pounds ($1.2 billion) of dividends on Wednesday, in moves welcomed by the Bank of England which had cautioned the sector about the risk of heavy costs ...
Coronavirus Fallout Leads to A.M. Best Outlook Downgrade for U.S. Commercial Insurers
U.S. commercial lines insurers must now carry an outlook downgrade from A.M. Best due to fallout from the coronavirus pandemic. The decision by A.M. Best to revise its outlook for the segment to ...
Insurance Industry Veteran Kevin Brooks Passes Away Due to COVID-19 Complications
Insurance industry veteran Kevin P. Brooks passed away on April 3, 2020, due to complications of COVID-19. Brooks had a long and successful career in the insurance industry, focusing on wholesale, ...
Zurich Debuts Podcast Series to Help Biz Clients Harmed by Pandemic
Zurich Insurance is focusing on helping business clients harmed by the coronavirus pandemic with a new podcast series. The series – Risk Insights: Coronavirus – will highlight "key risk ...
A Double-Whammy for Travelers When Carriers Refuse Virus Payouts
Purchasers of travel insurance are finding their policies all but worthless as the global pandemic forces them to change their plans, or worse, leaves them sick at sea. Most travel insurance ...
Lawsuit Seeks COVID-19 Business Interruption Claims Payments From Canadian Insurers
A class action lawsuit has been filed against Canada's top indemnity insurers for breach of contract in their refusal to pay business interruption claims from the COVID-19 crisis. "Indemnity insurers ...
Markel, Citing Coronavirus Concerns, Moves Its 2020 Annual Meeting to the Internet
Markel Corporation will be holding its 2020 annual meeting virtually, with only company officers and other personnel in physical attendance at the session. The specialty insurer said it made the ...