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June 18, 2020 Edition

Headlines


 
State officials told lawmakers that they are operationally prepared for a wildfire season complicated by COVID-19 and drought conditions. What officials don’t know is how they’re going to pay for the response.
 
 
The risk joins a host of others, including deepfakes, lithium-ion batteries, the pharmaceutical supply chain and carbon removal, on a list developed by Swiss Re.
 

Business


 
Although manufacturing saw the biggest rise in ransomware incidents, the most affected sectors continue to be financial services and healthcare, which together accounted for half of all ransomware attacks. 
 
Businesses fear they could be the target of litigation even if they adhere to safety precautions from the Centers for Disease Control and Prevention and state health officials.
Drivers working for ride-hailing services such as Uber Technologies Inc. and Lyft Inc will be considered employees under California's new gig worker law.
Commercial insurance activity slowed drastically during the COVID-19 lockdown, according to a report analyzing more than 120 million data transactions.
Directors and officers liability insurance rates will likely more than double in the wake of the COVID-19 pandemic as insurers respond to increased shareholder litigation over the past three years and future litigation over coronavirus-related exposures.
Commercial insurance markets have continued to harden in the second quarter as many lines have seen double-digit rate increases.

Education


 
Businesses across the U.S. have begun intensive disinfection regimens, exposing returning workers and consumers to some chemicals that are largely untested for human health, a development that’s alarming health and environmental safety experts.
 
 
Data on historic wildfire perimeters gives insurance professionals valuable information on property risk and helps them identify and educate customers.
 
 
For the first time in a survey's 21-year history, consumers preferred digital channels to one-on-one communication with an agent.
 
 
While the plunge in travel has in many ways eased pressure on roads and the aviation system, it has at times had the opposite effect on safety.
 
 
For the entertainment industry and the insurance brokers serving the sector, what the return to work will look like is still out of camera range.
 

Environment


 
Climate change is expected to cause stronger storm winds that trigger more extreme waves and increase coastal damage in Australia, the Pacific and South America by the end of the century.
 

Technology


 
Voice has the power to transform the customer experience, especially when it comes to consumer security and authentication practices, but it comes with risks, especially for call centers in banking and insurance.
 

About InsuranceEDGE

 
Curated weekly by WSRB experts, InsuranceEDGE helps you work smarter. You don't want to miss an issue. Get InsuranceEDGE delivered to your inbox every Thursday. 
 
 
 
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