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March 18, 2021 Edition

Headlines
 
 
 
A vacant building need not be a liability. With proper risk management, losses can be lessened.
 
 
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
 
 
 
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.
 
No state has yet passed a pandemic business interruption mandate. But while lawmakers have not been able to deliver on their proposals to date, the proposals have not gone away.
 
 
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.
 
 

 

Education
 
 
 
Get a clearer picture of how the agencies you work with are performing by adding specialized data sets on emerging and evolving risks to your review process.
 
 
Catastrophe bonds played a bigger role backstopping the insurance sector at recent reinsurance renewals as other sources of capacity contracted and returns rose for catastrophe bond investors.
 
 
The U.S. property-and-casualty industry saw a 68% increase in net underwriting income and combined ratio that improved slightly over the previous year.
 
 
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.
 
 

 

Environment
 
 
 
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.
 
 

 

Innovation
 
 
 
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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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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