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Inside P&C’s research team examines some of the areas that will be closely watched during the results season. -
Pandemic outbreak jumps 15 places to become the joint-second perceived risk.
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Citizens projected it would cede $94mn in storm losses to reinsurers but has cut this to $62mn.
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The acquisition from IA Capital is due to close in the second quarter.
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On an annual basis, lawsuits were 1% up on 2019 despite success in cutting back AOB cases.
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Sources warn further unrest is possible and anticipate rising demand for SRCC and even full political violence cover.
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Lawyers expect Covid-19 BI litigation claims to enter a second phase, and rising ransomware claims to spur coverage disputes.
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The organization’s president David Sampson says that the insurance industry supported the peaceful transition of power.
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The deal includes insurance technology company Cybercom, which Coastal bought earlier this year.
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Defence costs are expected to remain elevated, as weather losses have also weighed on results.
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Lawsuits filed against the insurer in four states will be considered by a federal judge in Pittsburgh.
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The industry must create a united front to ensure preparedness for the next crisis.
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