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June 17, 2021 Edition

Headlines
 
 
 
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. 
 
 

 

Business
 
 
 
Direct written cyber premiums in the U.S. increased to $2.74 billion in 2020, up from $2.26 billion in 2019. The 2020 direct incurred industry loss ratio was 67%, compared with 44.9% in 2019.
 
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?
 
 

 

Education
 
 
 
The computer networks that control water and power production and distribution in the U.S. are not secure. That poses a national threat.
 
 
Explosions and fires at legal marijuana growers and processors are costly for insurers. Learn how to reduce your risk of a major, avoidable loss.
 
 

 

Environment
 
 
 
The past two decades have been the driest or the second driest in the last 1,200 years in the West, posing existential questions about how to secure a livable future in the region.
 
The number of noticeable earthquakes has been increasing year after year since 2017 in the key oil producing regions of the U.S., according to a new analysis.
 
 

 

Innovation
 
 
 
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.
 
 

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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