The COVID-19 crisis reduced the ability of societies to absorb shocks by 18% in 2020 from 2019, and pushed the insurance gap — the difference between economic losses from an event and those losses covered by insurance — to a record high of $1.4 trillion.
California state and local officials are encouraging rebuilding in areas destroyed by wildfires rather than redirecting people away from those areas. If the state wants to reduce the economic and human impact of increasingly destructive wildfires, that needs to change, says a new report.
After a flurry of recent bond launches, it is now clear that issuance of new catastrophe bonds and other related insurance-linked securities (ILS) will break the record for the second quarter and also the first half of 2021.
Analysts predict that the line’s combined ratio will remain around 90% in 2021 but also noted that COVID-19 claims remain a source of uncertainty for the line and that its level of profitability is unsustainable in the long term.
As traditional insurance markets continue to harden, excess and surplus (E&S) firms are expanding and operating profitably. Can this trend be sustained? And which lines will be most profitable moving forward?
Insurers have spent the last 20 years exploring the potential of telematics with alternating curiosity, commitment and disillusionment. Discover what's next for the technology in the U.S. personal auto insurance market.
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