AM Best: Event Cancellation Insurers May Exclude Future Pandemics: Insurers that write event cancellation coverage are already beginning to exclude pandemic coverage going forward, said Samiksha Gupta and Sam Hanig, both of AM Best Rating Services. View the video version of this ...
Date: April 06, 2020 05:21:02

Coronavirus Pandemic Fuels Demand, Spikes Rates for Epidemic Insurance Products: The coronavirus pandemic is fueling demand for epidemic insurance products and shaping how they could work. The new demand is driving rate increases, challenges current capacity and could lead to new products from ...
Date: April 06, 2020 04:38:45

Protecdiv CEO: Aon-Willis Towers Watson Merger Creates Opening for ‘Challenger’ Brokers: The recent announcement of an all-stock merger between broking giants Aon plc and Willis Towers Watson will create openings for smaller players to gain new business and more talent, said the chief executive officer of ...
Date: April 06, 2020 03:48:45

Global Insurers Urge Relaxed Regulations During Coronavirus Response: The Global Federation of Insurance Associations is asking global regulators to refrain from imposing new coronavirus-related demands — like retroactive policy changes to broaden coverage language or additional data calls — ...
Date: April 06, 2020 03:20:50

Best’s Market Segment Report: AM Best Holds Stable Outlook on U.S. Health Industry Amid COVID-19 Pandemic Crisis: AM Best is maintaining its stable market segment outlook on the U.S. health insurance industry despite the impact of the COVID-19 virus outbreak. In its new Best’s Market Segment Report, titled, “Market Segment Outlook: ...
Date: April 06, 2020 02:12:35

Coronavirus-Related Drop in Driving Prompts Two Auto Insurers to Return $800 Million to Customers: The COVID-19 pandemic has caused miles driven and automobile insurance claims to plummet, leading two of the largest U.S. auto insurers to return $800 million to policyholders. Allstate Corp., the fourth-largest private ...
Date: April 06, 2020 02:10:10

Marsh Names Global Leader, Multinational Client Service: Marsh has named David Rahr to succeed Justin Walsleben as global leader, multinational client service. Rahr begins his new role April 15 and succeeds Walsleben, who retired from the firm. He will be based in Chicago and ...
Date: April 06, 2020 01:48:47

Aspen Re Names Leader in Newly Created Role: Aspen Insurance Holdings Ltd. has named Scott Kreuzer to the newly created role of senior managing director, Americas, at Aspen Re. Kreuzer will transition to his new role on May 4 and will lead the team at Aspen Re ...
Date: April 06, 2020 12:39:44

Orchid Underwriters Agency Names Chief Financial Officer: Orchid Underwriters Agency LLC has named Michael Garamoni as chief financial officer. Garamoni has spent the past 13 years in finance, reporting and planning, which included roles as vice president of global finance for ...
Date: April 06, 2020 12:09:46

AM Best to Host Webinar on COVID-19 Implications for U.S. Insurance and Reinsurance Markets: AM Best will host a complimentary webinar, on April 9, 2020, at 10 a.m. (EDT). AM Best analysts will review the changing impact of COVID-19 on AM Best’s U.S. insurance sector and global reinsurance outlooks, as well as ...
Date: April 06, 2020 12:07:37

Oregon Governor Appoints Insurance Regulator as DCBS Director: Oregon Gov. Kate Brown has appointed Oregon Insurance Commissioner Andrew Stolfi to succeed Lou Savage, who was acting director, as the director of the Department of Consumer and Business Services, Oregon’s largest business ...
Date: April 06, 2020 12:06:48

AM Best: Pandemic May Impact Sovereign Credit, Country Risks: AM Best considers the potential impact of sovereign credit and country risk on a company-by-company basis, said Andrea Keenan, senior managing director, AM Best Rating Services. View the video version of this interview ...
Date: April 06, 2020 11:18:04

Munich Re Specialty Group Names Head of Asia: Munich Re Specialty Group has named Hui Yun Boo to succeed Celine Ang as head of Asia. Boo will transition to her role immediately and replaces Ang, who has led the Asia business since 2017 and has requested to step back ...
Date: April 06, 2020 11:03:12

Willis Towers Watson ‘Pauses’ Miller Review Amid COVID-19 Uncertainty: Willis Towers Watson said it is pausing its strategic review of wholesale brokerage unit Miller Insurance Services LLP, citing uncertainty amid the COVID-19 pandemic. “Given the current COVID-19 outbreak and associated ...
Date: April 06, 2020 11:00:08

Chubb Pledges No Layoffs Related to COVID-19: Chubb Ltd. said it won’t conduct any layoffs of its employees during the COVID-19 pandemic health crisis. “We are committed to supporting people, business and communities most impacted by this global crisis,” said Evan G. ...
Date: April 06, 2020 10:51:37

Best’s Market Segment Report: AM Best Revises France Life Outlook to Negative: AM Best is revising its market segment outlook on France’s life insurance market to negative. Key factors that have led to the change in outlook include the significant economic and financial headwinds driven by the ...
Date: April 06, 2020 07:55:04

Best’s Market Segment Report: AM Best Revises Italy Life Outlook to Negative: AM Best is revising its market segment outlook on Italy’s life insurance market to negative. Key factors that have led to the change in outlook include the exposure of earnings and solvency positions to material asset ...
Date: April 06, 2020 07:54:46

Best’s Market Segment Report: AM Best Revises UK Life Outlook to Negative: AM Best is revising its market segment outlook to negative for the United Kingdom life insurance segment. Key factors that have led to the change in outlook include material uncertainty as to the severity of the impact on ...
Date: April 06, 2020 07:54:31

Carriers Offer Exclusion Waivers, Premium Reductions to Aid COVID-19 Stricken Policyholders: Insurance companies are beginning to offer a wide range of emergency relief — from exclusion waivers to one-time premium reductions — to help policyholders financially overwhelmed by the spreading COVID-19 outbreak. For ...
Date: April 03, 2020 04:14:53

State Reps Ask California Commissioner to Enforce BI Coverage Connected to COVID: Thirty-three members of California’s Congressional delegation have petitioned state Insurance Commissioner Ricardo Lara to enforce business-interruption coverage for businesses closed or limited by state order and have had ...
Date: April 03, 2020 03:32:32