Headlines
Drought conditions remain critical throughout the Inland Northwest, but recent rain has taken the edge off slightly in Northeast Washington.
Commercial insurance rates continued to increase in the third quarter of 2021, with most lines seeing single-digit hikes, according to insurance exchange MarketScout Corp.
Continued catastrophe losses will drive further increases for many property insurance policyholders, and, while pressures on liability lines have been alleviated by the closure of courts during the COVID-19 pandemic, rate hikes are still expected for casualty risks.
New research shows an increased appetite for calculated risks within the leadership of the re/insurance industry, with nearly 90% of executives expecting business conditions to be stronger a year from now.
Analysts have warned that major property and casualty reinsurers’ performance could be affected this year by natural catastrophes and uncertain outcomes of COVID-19 related business interruption lawsuits.
Technology will help improve customer experience and other aspects of the business, but it will not fundamentally change the industry.according to Evan Greenberg, chairman and CEO of Chubb Ltd.
U.S. officials on this week approved a long-lasting fire retardant that could significantly aid in fighting increasingly destructive wildfires by stopping them before they ever start.
