Industry News
How Silence May Impact Commercial Insurers on COVID Cover
Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an InsurTech that specializes in analyzing insurance policy language suggested recently, explaining ...
Providence Mutual Is Dealt an A.M. Best Financial Strength Rating Downgrade
The Providence Mutual Fire Insurance Company has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said its decision to downgrade the insurer's financial strength rating to ...
Malpractice Claims Climbing Higher for Architects and Engineers, Insurers Say
Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first upswing in claims activity in several years, Ames & ...
Lloyd’s Shuts Down London Underwriting Room Over Coronavirus Crisis
After conducting a successful stress test of its electronic trading system last week, Lloyd's has made the decision to close its underwriting room in response to the coronavirus outbreak. As a ...
Consumer Groups Call for Auto Insurance Premium Offsets as Coronavirus Slashes Driving
The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that ...
N.J. Bill Would Make Insurers Cover COVID-19 Business Interruption Claims
A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the ...
AM Best Pandemic Stress Test Announced
Although AM Best believes property/casualty insurers won't be as severely impacted by the COVID-19 pandemic as life and annuity players, the rating agency said yesterday that it will be ...
Many Small Businesses Not Familiar With Cyber Insurance: Celent
The cyber insurance market continues to expand—hitting $3.6 billion in direct written premiums in 2018, according to NAIC data—but awareness of the coverage still has room to grow, says a new ...