Industry News
Watsa’s Fairfax Discloses Q1 $1.4B Net Loss From COVID-19 Financial Markets Plunge
Fairfax Financial Holdings warned it is dealing with an estimated $1.4 billion net loss in the 2020 first quarter, largely because of COVID-19 and its adverse impact on the global financial market. ...
Chubb CEO Greenberg Cautions Insurers Would Face Bankruptcy Over Retroactive Coverage Measures
Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses. "The insurance industry is a ...
Insurers Suspending Dividends Shouldn’t Worry About Their Credit Quality: S&P
Some global regulators are advising insurers to suspend dividend payments in response to the COVID-19 pandemic. If insurers do, they won't have to worry about their credit quality, S&P Global ...
InsurTech Firm Wefox, Other German Startups Seek European Approach to Corona Tracing App
Europe should not cede its sovereignty to Silicon Valley when it comes to using technology to help trace those at risk of coronavirus infection, the German developers of a smartphone app said on ...
A Crisis Manager on How the P/C Insurance Industry Can Maximize Its Coronavirus Response
"I'm shocked, just shocked that you're suggesting that during a crisis that insurance companies might, in fact, be considered the villains. I've never heard that before." That's Richard Levick ...
Pandemic Bonds Get Stay of Execution but Their Future Remains Uncertain
A ruling last week not to wipe out holders of a World Bank financial instrument providing emergency funds to poor countries in a pandemic, was just a stay of execution if bond markets are to be ...
Progressive’s Monthly Financial Report Shows Early COVID Impacts
Progressive Corporation released a monthly earnings report for March 2020 yesterday, providing some early signs of the premium and loss ratio impacts of COVID-19 shelter-at-home restrictions for ...
Corvus Insurance Hires Former Execs From Beazley, Hiscox and Zurich
Corvus Insurance is adding to its executive team with veteran executives from Beazley, Hiscox and Zurich. The Boston-based InsurTech startup's hires come as experienced 20 percent growth already in ...