Although inflation remained low in 2019 and 2020, the infusion of trillions of dollars into the financial system in response to the coronavirus pandemic has prompted renewed concerns that a spike in inflation could be around the corner.
Business Interruption has been named the most important business risk of 2021. It is one of the so-called “COVID trio” to take the top three risk spots a new survey, alongside pandemic outbreak and cyber incidents.
The COVID-19 pandemic has remarkably left insurers' combined ratios largely unscathed, says Robert Hartwig, an associate professor at the Risk and Uncertainty Management Center at the University of South Carolina.
The retailer has filed suit seeking a court declaration that its insurers treat nationwide civil unrest last year as a single occurrence rather than separate events, each requiring separate $1 million deductibles.
Average renewal rates rose for most commercial coverages in February, but the pace of the increases slowed in some major lines, according to a new report. Commercial property saw the biggest increases, up 6.13% on an annual basis and up slightly from 5.63% in January.
The magnitude 9.1 Tohoku earthquake and the tsunami that followed killed 16,000 people, caused the Fukushima nuclear power plant to meltdown and sent huge amounts of debris to Washington’s beaches. The disaster was also a reminder of the kind of quake and tsunami that will happen on our own coastline, as more communities prepare for that day.
The shift of primary responsibility for vehicle operations from a human to a machine raises unsettled questions for the court system and the insurance industry. Who — or what — will be liable if something goes wrong?
More than two-thirds of insurance customers are now digitally transmitting photos or videos when filing property claims, decreasing claim cycle times and helping drive the highest overall satisfaction scores ever measured.
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