AIG Chief Executive Officer Peter Zaffino said the biggest challenge to the insurance sector over the last decade has been “unpredictable risks” including the pandemic, wars and climate change.
Tag: pandemic
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
Travelers Risk Index Reveals Dangerous Driving Behaviors Have Increased During Pandemic
The Travelers Companies, Inc. today announced the results of the 2021 Travelers Risk Index on distracted driving, a national survey of more than 1,000 consumers and business managers regarding perceptions about risk in their daily lives. The findings reveal that one in four drivers thinks that roads are safer today than they were before the… Continue reading Travelers Risk Index Reveals Dangerous Driving Behaviors Have Increased During Pandemic
Almost 39% of Americans Say They Reduced or Eliminated Insurance Coverage in 2020: ValuePenguin Survey
Due to the pandemic, unemployment rates skyrocketed in 2020 to astounding levels forcing many Americans to struggle to make ends meet. As a result, when looking to cut costs although 26% said that insurance would never be trimmed from their budgets, others had no choice but to cut or eliminate insurance coverage altogether. ValuePenguin’s most… Continue reading Almost 39% of Americans Say They Reduced or Eliminated Insurance Coverage in 2020: ValuePenguin Survey
College Town Economies Suffer as Students Avoid Bars, Football Tailgating
College students came back to Blacksburg, Va., last month, but so far many remain reluctant to fill the restaurants, shops and other local businesses that have helped insulate this southwestern Virginia town from past downturns. It is a bad sign for Blacksburg and other college towns that rely heavily on spending by students, alumni and… Continue reading College Town Economies Suffer as Students Avoid Bars, Football Tailgating
What You Wear to Zoom Business Meetings Matters
Mina Khan, an information-technology consultant who’s been working from home in Houston since March, tried wearing sweatpants and hoodies instead of the blouses and dress pants she typically wore to the office. It didn’t work. “Eventually I shifted to dressing the way I used to before because I realized it puts me in a better… Continue reading What You Wear to Zoom Business Meetings Matters
Retirements, Layoffs, Labor Force Flight May Leave Scars on U.S. Economy
Judith Ramirez received a letter this month that she’d been dreading: The Honolulu hotel that furloughed her from a housekeeping job in March, during the lockdown triggered by the coronavirus pandemic, made her layoff permanent. Ramirez, 40, was originally told she might be called back after business picked up. But infections increased in Hawaii over… Continue reading Retirements, Layoffs, Labor Force Flight May Leave Scars on U.S. Economy
Major Risks of Our Time: Pandemics, Climate Change, Cyber
The coronavirus pandemic has shown the world how vulnerable it is to very large risks. Trillions in financial losses ought to be a wake-up call for economies to better equip themselves for extreme risks of this nature. We therefore must not lose sight of major threat scenarios such as cyber and climate change because their… Continue reading Major Risks of Our Time: Pandemics, Climate Change, Cyber
Have A Safe Labor Day Weekend
This Labor Day is unsual with the pandemic and restrictive practices involving social distancing and face coverings. Be sure to continue to protect you and your loved ones. Travel and gather safely. We’ll be closed on Monday, September 7, and will return with the news on Tuesday.
AIG Swings to Quarterly Loss on Substantial Losses Tied to Pandemic
Global insurance conglomerate American International Group Inc. swung to a loss for the second quarter driven in part by substantial costs tied to the pandemic as well as losses on the sale of most of its Fortitude Group Holdings LLC stake. AIG, one of the nation’s biggest sellers of property-casualty insurance to businesses, reported $674… Continue reading AIG Swings to Quarterly Loss on Substantial Losses Tied to Pandemic