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October 28, 2021 Edition

 
Headlines
 
 
 
Corporate values factor into business decisions. Knowing what cannabis operations are within your book will allow for better decisions. Try Cannabis Check.
 
 
he Russian-based agency behind last year’s massive SolarWinds cyberattack has targeted hundreds more companies and organizations in its latest wave of attacks on U.S.-based computer systems
 
 

 

Business
 
 
 
Strikes, riots and civil commotion risks (SRCC) traditionally included as standard within commercial property policies are now more likely to be excluded or limited.
 
 
Lumber price volatility continues to play an outsize role in overall reconstruction cost estimates going into October 2021.
 
While highway traffic levels — and hence auto claims — have returned to more normal levels, the severity of accidents has not.
 
 
Commercial insurance premium renewal rate increases accelerated across nearly all major lines of business in the third quarter.
 
The percentage of ransomware paid decreased to 12% in the third quarter, compared with the same period last year, according to a report by Corvus Insurance.
 
 

 

Education
 
 
 
Massachusetts auto insurers are now required to compensate third-party claimants for those losses. The state’s highest court ruled Tuesday that standard auto policies issued in Massachusetts require compensation for “inherent diminished value.”
 
 
A growing number of False Claims Act investigations combined with recent court decisions that found insurers liable for the cost of settlements may spell trouble for commercial liability insurers.
 
Back in the cockpit after time off recovering from Covid-19, an airline pilot forgot to start his plane’s second engine for takeoff, a mistake that could have ended in disaster if he hadn’t aborted the flight.
 
 
Nonprofits made numerous changes to their business models during the pandemic. Some changes include shifting in-person events to virtual ones.
 
As fears over COVID-19-related discrimination claims mount, more businesses are eager for EPLI coverage. But insurers are scaling back their offerings.
 
 

 

Environment
 
 
 
The Financial Stability Oversight Council (FSOC) issued a 133-page report that could ultimately lead to new rules and stricter oversight for Wall Street. It provided a roadmap for integrating climate risk management into the financial regulatory system.
 
 
Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook.
 
 

 

Innovation
 
 
 
When thinking about the trucking industry, the first thing that comes to mind about its drivers is that they tend to be older — industry experts say the average trucker is 54 years old. But given the nationwide truck driver shortage, that's now changing.
 
 
Safer nighttime driving and a reduction in dangerous crashes have been helped substantially by headlight improvements, advances spearheaded in large part by a safety ratings program.
 
 

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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