News
Lloyd’s COVID-19 Claims Payouts to Rival 9/11 Terror Attacks
Lloyd's of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result of the COVID-19 pandemic. This payout is on par with the Sept. 11 terrorist attacks, which cost ...
Multiple InsurTech Consolidation Pressures Are Underway: Brewer Lane’s Notaras
Before the coronavirus pandemic, observers were expecting InsurTech startups to begin a consolidation process as they matured and looked at long-term viability. In the COVID-19 era, mergers and ...
COVID-19 Fallout: Pressure Grows for Workers Comp Federal Backstop
An executive order by California Gov. Gavin Newsom last week is the most aggressive yet among the directives issued by 13 states that require workers compensation insurers to pay at least some ...
AXIS Hit With S&P Outlook Downgrade Over Underperformance Concerns
AXIS Capital Holdings' lower-than-expected 2020 first-quarter earnings has now led to a negative ratings outlook from Standard & Poor's. The S&P action, which downgraded from a stable ...
6-Feet Social Distancing Workplaces Are Increasingly Likely
One-way corridors, buffer zones around desks, and clear plastic screens to guard against colleagues' coughs and sneezes may become office standards after coronavirus stay-at-home orders are lifted, ...
Zurich, Chubb Boost Cover for Controversial Trans Mountain Oil Pipeline
Major insurers Zurich, Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian regulatory filings show. The Trans Mountain pipeline, which ships types of ...
UK Insurer Brit, Google Team on First Fully Digital Lloyd’s Syndicate
Brit Ltd. and Google Cloud are partnering on the launch of Ki—what is being billed as the first fully digital and algorithmically driven Lloyd's syndicate. Debuting in 2021, Ki will be a ...
Left at the Altar: Covea Abandons $9B Purchase of Exor’s PartnerRe
French insurer Covea has walked away from its planned $9 billion purchase of PartnerRe, the Bermuda-based reinsurer owned by Exor, the holding firm of Italy's Agnelli family, saying it could no ...