The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world. At the same time, the combined global protection gap for key perils is reaching a new high.
U.S. property-and-casualty insurers reported a 21.6% decline in net income to $25 billion in the first half of this year, as realized capital gains fell $5.5 billion amid the COVID-19 pandemic, said A.M. Best Inc.
Independent agencies, like every other business, are living in a data-driven world. As the value of data continues to grow, agents are seeking to answer a critical question: just who owns their agency’s data?
Gen Z employees — those born starting in 1995 — were three times more likely than all other employees since the pandemic started to have sought professional help for stress, burnout or other mental health reasons, according to a new report.
COVID-19-related claims were not the biggest driver of the North American property-and-casualty insurance industry’s overall combined ratio during the first six months of 2020. Natural catastrophes cost insurers more, Fitch Ratings concluded in its latest report.
At the CZU Lightning Complex fire in the mountains south of San Francisco, authorities said their efforts have been hindered by people who refused to heed evacuation orders and those who were using the chaos to steal.
Although insurers have invested heavily in fraud-fighting technology, the percentage of referrals from automated systems accepted by special investigation units has declined to 15% from 22% in the past two years.
The percentage of global consumer buyers interacting with their insurers through digitized mechanisms has doubled since 2015, according to a study from ACORD, the global standards-setting body for the insurance industry.