Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a broker he knows. “It isn’t a …
When insurance coverage lawsuits brought by businesses seeking coverage for COVID-related interruptions surpassed the 700 mark last week, the natural question to ask was: Is that a lot? That’s exactly the question that Chris Cheatham, CEO and co-founder of insurtech …
New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance Act. “This is the only bill I have written that people are …
Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the Terrorism Risk Insurance Act as some have urged. …
While the potential cost of relaxing a tenet of the workers’ compensation system to deal with extraordinary circumstances of COVID-19 could top $50 billion, it’s more likely to be one-fifth of that, an analyst reported recently. States like Michigan and …
As insurers introduce artificial intelligence into pricing and claims handling activities, regulatory focus on disparate impact will grow into “one of the biggest topics of the next 10 years,” a well-known insurance analyst predicted at an industry conference. V.J. Dowling, …
The structural changes announced by Zurich Insurance Group late last week are intended to organize the company “around the customer” and improve customer innovation, according to Chief Executive Officer Mario Greco. While a simplified structure will create cost benefits, that is not …
The structural changes announced by Zurich Insurance Group late last week are intended to organize the company “around the customer” and improve customer innovation, according to Chief Executive Officer Mario Greco. While a simplified structure will create cost benefits, that is not …
Property/casualty insurers continued to take down loss reserves for prior years in 2014, which marked the ninth straight calendar year of favorable development for the industry in aggregate, according to a new report from Fitch Ratings. Fitch also estimates that …