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Today's Headlines January 31, 2022

Cyber Insurers Working to Keep Up With Criminals

It's no question the cyber crime landscape is constantly evolving, keeping large and small businesses on their toes. But another industry is rapidly changing, and if businesses don't keep up, they risk being caught off guard, experts say. That industry is cyber insurance. "Now is the time to take comprehensive action and ensure that your... read more
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The Bottom Line: Earnings Reports for RLI, RenRe and AXIS Capital

For publicly traded commercial insurers and reinsurers that reported 2021 earnings in January 2022, net income soared nearly 40 percent, with double-digit premium growth and higher levels of underwriting profit boosting bottom lines. For the month of January so far, reports from five commercial lines insurers and reinsurers saw combined ratios decline almost across the... read more
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Crop Insurance Payouts Have Risen Sharply Due to Droughts, Floods

Insurance payments to U.S. farmers for crops lost to droughts and flooding have risen more than threefold over the past 25 years, according to an analysis of federal data by the Environmental Working Group (EWG) released on Thursday. The report reinforces concerns that insuring the nation's crops will get more expensive for insurance companies, farmers... read more
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The Latest Launches From WTW, Colonial Surety, Archipelago

WTW formed its CyberCrime task force within its financial, executive and professional risks (FINEX) global practice. The CyberCrime task force is dedicated to understanding the intricacies of cyber and crime insurance and the interplay between them. It aims to approach cyber and crime in a unified manner, so clients can benefit from enhanced coverage that... read more
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Tesla's Musk Predicts Fully Self-Driving Vehicle in 2022, Humanoid Robot Next Year

Tesla's most important products this year and next will not be cars, Chief Executive Elon Musk said on Wednesday, but software that drives them autonomously and a humanoid robot. The audacious promises by the best-known billionaire in the electric car industry face major challenges, from technology to regulation. Tesla and other auto technology companies have... read more
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Florida Senator Tries Cat Fund Changes to Cut Cost of Property Insurance

Seeing no action on bills that would address Florida's spiraling property insurance problems head-on, one state senator took a different route Thursday and proposed reducing insurers' payments to the state's hurricane catastrophe fund, a move he said could save policyholders as much as $1 billion a year. The amendment by Sen. Jeff Brandes, R-St. Petersburg,... read more
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U.S. Drivers Divided Over Speed Cameras: Erie Insurance

Half of U.S. drivers support the use of speed cameras while more than a third oppose them, according to a recent survey commissioned by Erie Insurance. However, many opponents said they would change their minds under certain conditions. The survey found that 49 percent of drivers support speed cameras while 35 percent oppose them. Meanwhile,... read more
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Employee Mental Health a Top Priority for HR in 2022: WTW Study

Employee mental health is one of the top priorities for human resource teams in 2022, according to a new study from global advisory and broker WTW, which found that nearly all (86 percent) companies surveyed identify stress and burnout as a threat for their workforces. However, 49 percent have not yet formally articulated a well-being... read more
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Research and Webinars

Digital Strategies & Shifting Priorities in Commercial Lines Insurance

Join Dave McKenna, VP, IT & CISO from Upland Capital and OneShield's ...
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How AI helps mitigate P&C insurance risk

The home improvement boom was an unexpected risk for the P&C insurance ...
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Explore a new model that has reduced cost of cyber insurance claims

This paper will review the current model of incident response for ransomware ...
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E&S Startups Emerge To Take On Insurance's Biggest Risks

It's good to be in the E&S market right now. Indeed, E&S typically ...
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Digital Payment Experience in Insurance: Transforming Customer Interactions and Payment Options

Strategy Meets Action (SMA) offers insurers insights on advancements in premium ...
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Media

On the Ground: How Insurers Can Use Geospatial Information Systems

InsurTech Newsletter


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