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January 7, 2021 Edition

Headlines


 
To help people better understand natural disaster risk, the federal government has calculated the risk for every county in America for 18 types of natural disasters, such as earthquakes, hurricanes, tornadoes, floods, volcanoes and even tsunamis. 
 

Business


 
One expert believes that 2021 will be difficult for directors, officers and their advisers due to a projected increase in insolvency claims against them.
 
 
It was announced in September that FEMA had returned to the traditional reinsurance market and commenced the procurement of reinsurance for the NFIP for 2021.
 
 
Property-and-casualty insurance buyers will likely see rate increases extending into 2021, with some lines continuing to see double-digit rate hikes, experts say.
 
 
Commercial insurance rates increased 7.1% in the fourth quarter of 2020 in the U.S., continuing an upward trend that started in 2017, according a new report.
 
 
Issuance of property catastrophe bonds in 2021 is expected to surpass 2020’s record levels, as an increasing number of maturing bonds will likely be renewed.
 
 
The U.S. saw the highest reinsurance rate increases at January 1 renewals, followed closely by Europe across some lines, according to two new reports.
 

Education


Starting next week, you'll find InsuranceEDGE on the new BuildingMetrix.com. You'll get the same valuable content, just at a new address. Learn more about BuildingMetrix, a WSRB company, now. 
Plans for a lawsuit against a Maine venue that hosted what became a “superspreader” wedding reception underscore the liability risks to small businesses amid the coronavirus pandemic and an uphill push by Republicans in Congress to give such outfits legal immunity.
A proposal to change the way federal aid is allocated could mean less money for states responding to or recovering from emergencies and disasters like hurricanes, tornadoes, floods and wildfires.

Innovation


 
Here’s how the Biden Administration should strengthen emergency preparedness, according to a group of experts who follow the agency's work.
 
 
A company is developing a technology that could save lives during disasters, when cellphone service often disappears.
 
 
The move by the FAA marks a significant step toward the use of drones for widespread commercial deliveries.
 

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Curated weekly by WSRB experts, InsuranceEDGE helps you work smarter. You don't want to miss an issue. Get InsuranceEDGE delivered to your inbox every Thursday. 
 
 
 
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