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February 11, 2021 Edition

Headlines

 
 
 
Net income for the U.S. property-and-casualty insurance industry fell by 27.5% to $35.1 billion in the first nine months of 2020, according to a new report.
 
 
Legalized marijuana creates property risk, but managing that risk takes time few insurance companies have. Learn about a new way to reduce cannabis-related risk.
 
 

 

Business
 
 
 
The catastrophe bond market saw robust activity last year as new sponsors and tightening retrocessional reinsurance capacity helped buoy the sector, and the trend is expected to continue.
 
 
An expert federal panel has added its voice to the growing campaign for laws requiring homebuyers to be informed about a property’s flood history, calling current disclosure practices “not adequate.”
 
Global commercial insurance prices increased 22% in the fourth quarter of 2020. The increase, the largest since 2012, follows average increases of 20% in the third quarter of 2020 and 19% in the second quarter.
 
 

 

    Education
 
 
 
Misuse of climate models could pose a growing risk to financial markets by giving investors a false sense of certainty over how the physical impacts of climate change will play out.
 
 
The effects of the COVID-19 pandemic will be felt by the insurance industry and its customers well into 2021 as consumers and businesses continue to face economic challenges.
 
 
The Spokane Fire Department is finding new ways to connect with families during COVID-19. The department recently launched a new webpage to teach young kids about fire safety. It's like a virtual classroom, with icons and avatars for kids to click on.
 
 
Last year presented independent insurance agents and agencies with a number of business hurdles that demanded creative problem-solving and a willingness to pivot away from the traditional way of doing things. 
 
 

 

Environment
 
 
 
Five months after a wildfire destroyed the towns of Malden and Pine City, President Joe Biden approved federal aid for those communities and other areas of Eastern Washington that were burned by fires last year.
 
 

 

    Innovation
 
 
 
Amazon.com says the move would improve safety of both drivers and the communities in which they deliver.
 
 

About InsuranceEDGE

 

 

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

 

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