U.S.
U.S. P/C Insurers Produced 2020 Underwriting Profit Despite COVID-19 Challenges
Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty insurers saw a statutory underwriting profit for the third consecutive year, with an ...
Aon Offers Concessions to Win EU Antitrust Approval for $30B WTW Bid
Insurance broker Aon has offered concessions to gain EU antitrust approval for its $30 billion bid for rival Willis Towers Watson, a European Commission filing showed on Monday. The sector's biggest ...
March U.S. Storms Caused More than $1B in Insured Losses: Aon
An onslaught of U.S. storms and flooding in March caused as much as $2 billion in economic damage. Public and private insurers were likely to see losses surpass $1 billion, Aon plc said in its ...
Businesses Pursue More COVID-19 Lawsuits, Seeking Higher Damages
The anniversary of COVID-19 shutdown orders brought an upturn in both the number of business-interruption lawsuits against insurers and the amount of damages they are claiming. In the past month: A ...
Insurance Industry Promotes Philanthropic and COVID Relief Initiatives
The insurance industry nonprofit Insurance Industry Charitable Foundation (IICF) gave insurance industry leaders an opportunity to talk about their philanthropic initiatives at a recent media event. ...
Global Shipping Backlog Continues Even as Suez Blockage Cleared
A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry ...
U.S. Weather Forecasters Predict Sixth Year of Above-Average Atlantic Storms
The United States should prepare for a sixth year of above-average number of Atlantic hurricanes, Colorado State University (CSU) forecasters said in the first official 2021 outlook on Thursday. The ...
How to Increase Flood Insurance Take-Up Using Behavioral Economics Insights
Proper application of behavioral economics can improve take-up of flood insurance and narrow the protection gap. Sounds farfetched? Let's dig deeper. Behavioral economics is the study of psychology, ...