Despite experiencing an underwriting loss, the property/casualty insurance industry ended 2021 strong and able to support policyholders, according to a report from Verisk, a leading global data analytics provider, and the American Property Casualty Insurance Association (APCIA). In 2021, the insurance industry experienced a $3.8 billion net underwriting loss, after a $5.2 billion underwriting gain… Continue reading P&C Insurers Experience Underwriting Loss in 2021, But Remain Strong
Author: Farkas Laura
Can U.S. Gunmakers Be Liable for Mass Shootings?
On Tuesday, an 18-year-old gunman stormed a Texas elementary school and killed 19 children and two teachers, reigniting a debate in the United States about gun control and the potential legal liability for firearms manufacturers. The following are examples of legal efforts to hold manufacturers accountable for mass shootings. U.S. GUN COMPANIES ARE GENERALLY PROTECTED… Continue reading Can U.S. Gunmakers Be Liable for Mass Shootings?
SEC Unveils Rules to Ensure ESG Funds Follow Through on Investments
The Securities and Exchange Commission (SEC) proposed a pair of rule changes on Wednesday aimed at stamping out unfounded claims by funds about their environmental, social, and corporate governance (ESG) credentials, as well as enforcing more standardization of such disclosures. The proposals, which are open for public comment, detail how ESG funds should be marketed… Continue reading SEC Unveils Rules to Ensure ESG Funds Follow Through on Investments
WTW Launches Specialist Cyber Coverage for Ports and Terminals
Three key factors – an increased reliance on technology, heightened cyber-threat activity and gaps in insurance cover, drive the need for specialist cyber coverage for ports and terminals. That need is now met by CyNav for Ports and Terminals, a new cyber solution from WTW, a leading global advisory, broking, and solutions company. CyNav for… Continue reading WTW Launches Specialist Cyber Coverage for Ports and Terminals
SPACs Are Warning They May Go Bust
The SPAC boom brought a flood of companies to the public markets, promising investors years of rapid growth and profits. Many of these companies are already warning that they may fail two years after the boom began. According to Audit Analytics, at least 25 companies that merged with special-purpose acquisition companies between 2020 and 2021… Continue reading SPACs Are Warning They May Go Bust
Most of U.S. West Is in Severe Drought as Peak Wildfire Season Looms
The American West is experiencing its worst drought on record, bringing new water restrictions, wildfire danger, and anxiety to one of the country’s fastest-growing regions as summer approaches. According to tree-ring records analyzed by researchers from the University of California, Los Angeles, much of the West has been mired in a drought dating back to… Continue reading Most of U.S. West Is in Severe Drought as Peak Wildfire Season Looms
Gov. DeSantis Signs Bills on Home Insurance Reform
Gov. Ron DeSantis has signed into law a package of property insurance reforms to curb skyrocketing home insurance costs in Florida. The House and Senate just passed two bills related to home insurance reform this week during the legislative special session, as the state’s uniquely complicated and pricey property insurance market took center stage. On… Continue reading Gov. DeSantis Signs Bills on Home Insurance Reform
Remembering Our Soldiers
At ProgramBusiness.com and Neilson Marketing Services, we take this time to pause and reflect and honor those who died serving our country. “Our flag does not fly because the wind moves it. It flies with the last breath of each soldier who died protecting it.” –Unknown We will be closed Monday, May 30.
Maine’s Vince Micucci Joins Alliant Insurance Services’ Employee Benefits Group
Alliant Insurance Services has added Vince Micucci as Senior Vice President, Value Based Solutions within its national Employee Benefits Group. The Portland, Maine-based Micucci will lead a dedicated team delivering analytics-driven, value-based risk management solutions to the healthcare delivery market in this new position. “Vince is a strong addition to our new Value Based Solutions… Continue reading Maine’s Vince Micucci Joins Alliant Insurance Services’ Employee Benefits Group
Inaction on Climate Change Could Cost the World’s Economy $178 Trillion by 2070
A new report from the Deloitte Center for Sustainable Progress (DCSP) released today during the World Economic Forum’s annual meeting indicates that—if left unchecked—climate change could cost the global economy $178 trillion over the next 50 years, or a 7.6% cut to global gross domestic product (GDP) in the year 2070 alone. If global warming… Continue reading Inaction on Climate Change Could Cost the World’s Economy $178 Trillion by 2070