Industry News
CM Virtual Summit Preview: Future InsurTechs Might Rely More on Bootstrapping
While the coronavirus pandemic is widely expected to force a big drop in InsurTech venture capital investment, some experts suggest the industry will still see plenty of startups. This time, however, ...
COVID-19 Pushes AIG’s P/C Insurance Business Into the Red
After years of losses and just 12 months of underwriting income, American International Group's property/casualty business has lost money again. For that, COVID-19 is to blame. AIG said the P/C arm ...
Zurich North America and Tokio Marine Kiln Each Hire a Former Chubb Exec
Two former Chubb executives have joined Zurich North America and Tokio Marine Kiln, respectively, in leadership roles. Alexander Wells is Zurich North America's new U.S. head of middle market, ...
Insurers Struggle to Accurately Predict Upcoming Coronavirus Costs
Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive ...
At The Right Price, Berkshire Will Write Pandemic Cover, Buffett Says
The chairman of Berkshire Hathaway said that while his insurance units aren't heavily exposed to underwriting losses from the COVID-19 pandemic, they would be willing to insure pandemics in the ...
Worst-Case P/C Coronavirus Losses in Key Lines Could Hit $80B: Willis Towers Watson
Key property/casualty insurance lines could face COVID-19 insured losses reaching a combined $80 billion in a worst-case scenario modeled by Willis Towers Watson as part of a new report. U.S. and ...
Lemonade Encourages Customers to Fuel ‘Social Good’ by Taking COVID-19 Research Surveys
Lemonade is encouraging its members to take online surveys – lots of them – in order to positively impact the COVID-19 crisis. The InsurTech focused on digital homeowners and renters insurance ...
Watsa’s Fairfax Financial Holdings Loses $1.3B in Q1
Prem Watsa's Fairfax Financial Holdings lost close to $1.3 billion during its first quarter, due largely to unrealized losses on investments and market volatility over the coronavirus pandemic. The ...