Over the past two years, the global pandemic accelerated consumer acceptance of digitization throughout the policy lifecycle, and that momentum will likely carry over into 2022. TransUnion’s 2022 Insurance Trends and Outlook Report considers multiple implications of increasingly digital and accelerated business practices for insurance carriers throughout the industry. To equip insurers with a deeper… Continue reading Life, Personal and Commercial Insurance Trends in 2022
Author: Farkas Laura
Hub International Strengthens Retirement Capabilities with Acquisition of GRP Financial California LLC
HUB International Limited (Hub), a leading full-service global insurance brokerage and financial services firm, announced today that it has acquired the assets of GRP Financial California, LLC (GRP Financial California). Terms of the transaction were not disclosed. Located in San Clemente, California, GRP Financial California is a leading retirement plan consulting firm offering a complete… Continue reading Hub International Strengthens Retirement Capabilities with Acquisition of GRP Financial California LLC
FEMA Requests Comments on Improving Flood Insurance Program
The Federal Emergency Management Agency (FEMA) is seeking input on how to change flood insurance, a powerful program that both sets standards for resilience in building across the country and encourages repeated construction in vulnerable areas. FEMA’s open call for public comments will be open until Jan. 27, and participants will be able to write… Continue reading FEMA Requests Comments on Improving Flood Insurance Program
Kroger to Discontinue Paid COVID Benefits, Add Insurance Surcharges for Unvaccinated Workers
Kroger announced on Tuesday that it will no longer provide paid leave to unvaccinated employees who contract Covid-19 and will instead require some of them to pay a monthly health insurance surcharge beginning next year. The country’s largest supermarket chain issued a companywide memo announcing the changes, which go into effect on January 1. According… Continue reading Kroger to Discontinue Paid COVID Benefits, Add Insurance Surcharges for Unvaccinated Workers
Survey: Group Health Insurance Costs Surge in 2021 As Elective Procedures Resume
According to a survey released on Monday, health insurance costs for employers increased the most in over a decade this year as Americans resumed non-urgent procedures that had been postponed due to the COVID-19 pandemic. According to Mercer’s survey of firms employing approximately 118 million people, the average cost of employer-sponsored health insurance per employee… Continue reading Survey: Group Health Insurance Costs Surge in 2021 As Elective Procedures Resume
Volatile Markets, U.S. Lawsuits, ESG Issues and SPACs Create New Risks for Managers: Allianz
Board members and company executives are increasingly being held liable in a variety of scenarios. Today’s market volatility, with the increased threat of asset bubbles and inflation, the prospect of an increasing number of insolvencies as a result of the pandemic environment, rising scrutiny of companies’ environmental, social, and governance (ESG) performance, and the urgency… Continue reading Volatile Markets, U.S. Lawsuits, ESG Issues and SPACs Create New Risks for Managers: Allianz
EEOC Adds New Section Clarifying When COVID-19 May Be a Disability
The U.S. Equal Employment Opportunity Commission (EEOC) updated its COVID-19 technical assistance today adding a new section to clarify under what circumstances COVID-19 may be considered a disability under the Americans with Disabilities Act (ADA) and the Rehabilitation Act. EEOC’s new questions and answers focus broadly on COVID-19 and the definition of disability under Title… Continue reading EEOC Adds New Section Clarifying When COVID-19 May Be a Disability
Insurtech Coalition Launches Captive to Accelerate its Growth in Cyber Insurance
Coalition, the world’s largest commercial insurtech provider, today announced it will launch a new captive to begin taking risk on its cyber insurance programs. With this captive, Coalition will enhance its ability to manage capacity and its long-term growth objectives while further aligning incentives with its customers. Coalition’s technology-driven approach is powering a new, more… Continue reading Insurtech Coalition Launches Captive to Accelerate its Growth in Cyber Insurance
Chubb Reaches Sexual Abuse Settlement with Boy Scouts of America for $800 Million
As reported by the Boy Scouts of America (BSA) and other parties today, an agreement-in-principle has been reached in the BSA bankruptcy. Under this agreement, assuming approval, Century Indemnity Company and other Chubb companies will pay $800 million and obtain a broad release for all Chubb companies from BSA-related abuse claims. The net financial impact… Continue reading Chubb Reaches Sexual Abuse Settlement with Boy Scouts of America for $800 Million
Security Experts Warn of Serious Software Flaw Threatening Hundreds of Millions of Devices
Over the weekend, businesses and governments around the world rushed to defend against cyberattacks aimed at exploiting a serious flaw in a widely used piece of Internet software that security experts warn could give hackers sweeping access to networks. Because the code is so widely used on corporate networks, cybersecurity researchers believe the bug, hidden… Continue reading Security Experts Warn of Serious Software Flaw Threatening Hundreds of Millions of Devices