Claims & Reserving
Swiss Re Estimates Global Insured Catastrophe Losses of $112B for 2021
Natural catastrophes caused global insured losses of $105 billion in 2021—the fourth highest since 1970, according to Swiss Re Institute's preliminary sigma estimate. This was up from $90 billion ...
7th Circuit Affirms Dismissal of 4 COVID-19 Business Interruption Lawsuits
In four separate decisions, a panel of the 7th Circuit Court of Appeals joined four other federal appellate courts in ruling that SARS-CoV-2 does not cause a direct physical loss or damage that ...
Insured Loss From Tornado Outbreak Estimated at $3 Billion by KCC
The insured loss from the Dec. 9-12 tornado outbreak that devastated parts of central U.S. has been estimated to be about $3 billion. Catastrophe modeling firm Karen Clark & Company said its ...
Tornadoes That Ripped Across Central U.S. Could Be Costliest Outbreak on Record
A group of tornadoes that tore across the central U.S. on Dec. 10 and 11 resulted in widespread damage in several states and could serve as the nation's costliest tornado outbreak on record. "Based ...
Easing Supply Chains, Other Factors Could Rein in Inflation: Economists
Inflation is painfully high, but this hopefully is close to as bad as it gets. Consumer prices rose 6.8 percent for the 12 months ending in November, a 39-year high. Many economists expect inflation ...
Climate Change Worsened Extreme Weather Across the Globe in 2021
Extreme weather events in 2021 shattered records around the globe. Hundreds died in storms and heatwaves. Farmers struggled with drought, and in some cases with locust plagues. Wildfires set new ...
P/C Insurance Digital Claims Management Stalling: J.D. Power
The property/casualty insurance industry is falling behind financial services and utilities providers when it comes to the digital customer experience, according to the J.D. Power 2021 U.S. Claims ...
8 Emerging Risks to Watch: Climate Change, Tainted Products, Deepfakes
Even the most vigilant insurers and reinsurers scanning the risk landscape for potential future liability problems are likely to fall into landmines. What insurance risks of the immediate or distant ...