Special Coverage: COVID-19
Posted: May 04, 2020
8 Things That Will Never Be the Same in Insurance After COVID-19 More than any human, COVID-19 is driving a digital transformation of the insurance industry. Everything about the way the industry has traditionally worked is under challenge due to the quarantine, ...
Posted: May 04, 2020
Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment portfolios.
Posted: May 04, 2020
Texas auto dealer Hayden Elder says March was his worst month in 42 years selling cars thanks to the coronavirus, but April brought days that were “almost normal” and he expects bigger customer discounts to help him sell more Dodge …
Posted: May 04, 2020
Britain’s financial watchdog said on Friday it would urgently ask the courts to clarify uncertainty over whether businesses can claim compensation for disruption caused by the coronavirus pandemic. The Financial Conduct Authority (FCA) also told all insurers to assess whether …
Posted: May 04, 2020
AM Best has placed under review with negative implications the Financial Strength Rating of “A-” (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Bermuda-based Watford Re Ltd. Included in the review are Watford subsidiaries Gibraltar-based Watford …
Posted: May 04, 2020
Berkshire Hathaway’s property/casualty insurance and reinsurance businesses reported a first quarter underwriting profit of $747 million before taxes, nearly double the pretax underwriting profit of $377 million recorded for first-quarter 2019. Property/casualty and life insurance and reinsurance bu...
Posted: May 04, 2020
The global brokerage has launched a string of initiatives to keep colleagues engaged and connected while working remotely
Posted: May 04, 2020
Warren Buffett's Berkshire Hathaway Inc. is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses.
Posted: May 04, 2020
The Delaware Department of Insurance has announced that many consumer-friendly automobile insurer actions are being implemented due to reduced vehicle use throughout the COVID-19 pandemic. As filed with the department, these actions represent millions of dollars being returned to or …
Posted: May 04, 2020
Maryland Insurance Commissioner Al Redmer Jr. has warned consumers to watch for insurance scams related to the COVID-19 pandemic. Reports of pandemic-related fraud are increasing around the country, according to a press release issued by the Maryland Insurance Administration. People …
Posted: May 04, 2020
A group of Republican U.S. senators said Thursday they would introduce legislation to address consumer privacy concerns surrounding technology companies’ efforts to help build contact tracing apps to fight the new coronavirus outbreak. Senator Roger Wicker, who chairs the Commerce …
Posted: May 04, 2020
At The Right Price, Berkshire Will Write Pandemic Cover, Buffett Says The chairman of Berkshire Hathaway said that while his insurance units aren't heavily exposed to underwriting losses from the COVID-19 pandemic, they would be willing to insure pandemics in the ...
Posted: May 04, 2020
Posted: May 04, 2020
U.K.-based leisure and hospitality insurance broker NDML Ltd. has asked the government to release funds from local terrorism risk reinsurer Pool Reinsurance Co. Ltd. to help pay business interruption claims related to the coronavirus pandemic.
Posted: May 04, 2020
Nicolaus Prawiro, deputy director at insurer PT Asuransi Cakrawala Proteksi Indonesia, said that country's property insurance market fell nearly 20% year-over-year in the first quarter due to the coronavirus pandemic.
Posted: May 04, 2020
Lemonade Encourages Customers to Fuel ‘Social Good’ by Taking COVID-19 Research Surveys Lemonade is encouraging its members to take online surveys – lots of them – in order to positively impact the COVID-19 crisis. The InsurTech focused on digital homeowners and renters insurance ...
Posted: May 04, 2020
Worst-Case P/C Coronavirus Losses in Key Lines Could Hit $80B: Willis Towers Watson Key property/casualty insurance lines could face COVID-19 insured losses reaching a combined $80 billion in a worst-case scenario modeled by Willis Towers Watson as part of a new report. U.S. and ...
Posted: May 04, 2020
Artificial intelligence is revolutionizing the pharmaceutical industry by empowering companies to dramatically accelerate the development of new drugs while cutting costs by hundreds of millions of dollars. Advertisement But the growing use of the technology in the industry is also fast creating...
Posted: May 04, 2020
International insurance broker Gallagher announced the release of a Pandemic Group Insurance product, providing a comprehensive COVID-19 indemnity cover solution to the India market. For essential workers and front-line services including hospital and healthcare providers, food distribution, and pha...
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