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Today's Headlines July 6, 2020

The Risk of 'Take-Home' COVID-19 and the 'Next Asbestos'

Estimates of the size of COVID-19's impact on the insurance industry vary widely, but some companies (including Chubb and Willis Re) have suggested that, considering both asset and liability losses, it will be the largest event in insurance history. In the sense of the size of industry loss, then, the coronavirus appears to be the... read more
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Allianz CEO Baete Predicts 2021 Recovery Barring Another Major Coronavirus Hit

Allianz, which is facing headwinds from the coronavirus crisis, expects to be back on track in 2021 barring a second major outbreak or financial market correction, the German insurer's chief executive said in an interview. read more

 Brand Spotlight 
3 Solutions to Combat COVID-19 Claims and Underwriting Interruption

As the COVID-19 pandemic continues to wreak havoc on the economy, businesses are facing new challenges as they find ways to take care of their employees and customers. In particular, the coronavirus is proving challenging to the property & casualty (P&C) insurance industry, where inspectors more

How Smart Technology Creates New Home Insurance Opportunities

While the average American home hasn't changed much on the outside, the devices and lifestyles inside have changed dramatically in the last 50 years. As transmitter radios were replaced with voice-controlled speakers, home insurance leaders learned to track consumer adoption and regulation in the space to define the right timing to jump on board. That... read more

Lemonade's Debut Day of NYSE Trading Sees 140 Percent Jump in Stock Price

Lemonade soared on July 2 as its stock price climbing nearly 140 percent in the InsurTech's debut day as a public company. It's a significant achievement for the New York-based startup, which only launched in 2016. Profitability will be a crucial next step. read more

A Struggling AGCS Rolls Out Its Restructuring Plan

Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, is embarking on a restructuring program it says is designed "to regain profitability and market leadership in the corporate and specialty insurance segment." read more

California Utility Emerges From Bankruptcy After Wildfires Pushed It to the Brink

Nearly a year and a half after collapsing under $30 billion in liabilities from wildfires sparked by its equipment, PG&E Corp. has emerged from the biggest utility bankruptcy in U.S. history. read more

Woolley Joins AXIS International Construction Team

A veteran of Zurich Insurance, CNA and more joined AXIS Capital Holdings Ltd. in a leadership role. read more

Reinventing Normal

If you were born just a few years ago, and started to understand the world today, then wearing a mask to go outside wouldn't seem like a very big deal. And the fact that your parents were always around and that you connected with people in other houses by phone or computer would seem normal,... read more
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