COVID-19 has caused immense upheaval for insurers and insureds, with many people left feeling their insurers have abandoned them in their time of need. Rick Lindsey, CEO of Prime Insurance Company, believes this sense of dissatisfaction and betrayal has escalated the situation to a point where class actions are on the cards.
Terrifying walls of flames and the widespread devastation they leave in their wake are expected to increase in the US as a result of climate change. Intelligent Insurer finds out how insurance pricing can incentivise individuals and society to increase wildfire mitigation efforts.
Social inflation is a big issue for insurers, especially in the US where plaintiffs’ lawyers are demanding ever-larger pay-outs, backed by juries who are increasingly inclined to back David against Goliath. But the right approach will reduce this trend, as Rick Lindsey, CEO of Prime Insurance Company, tells Intelligent Insurer.
Deal-making was up in the first half of 2020 but experts at Clyde & Co predict a drop in M&A activity in the latter half of the year as the COVID-19 effect makes itself known. Those looking for opportunities may be in a better position in 2021 as Intelligent Insurer looks at the trends driving the predicted comeback for M&A next year.
Cyber risk is more than ever a complex challenge for reinsurance companies. At CCR Group, challenges have become opportunities and the digital transformation strategy undertaken a few years ago with the support of AI initiatives has confirmed this approach. Intelligent Insurer reports.
An insurance product to address reputational risk could soon be a reality, as Kasper Ulf Nielsen, chief strategy officer for The RepTrak Company, explains to Intelligent Insurer.
COVID-19 is enabling risk managers to demonstrate their value, while challenging insurers to prove theirs at the same time, John Ludlow, CEO of Airmic, tells Intelligent Insurer.
Rick Lindsey has built Prime Insurance Company using a robust approach to underwriting and claims management, as he explains to Intelligent Insurer.
Pandemic-related losses are large but reinsurers look to have avoided the worst with a combination of financial discipline and the arrival of a hard market. Will efforts to inoculate themselves against the pandemic in H1 continue to be effective into the second half of the year, and how will it affect the wider market? Intelligent Insurer speaks to Robert Mazzuoli, director at Fitch Ratings, to find out more.
Certain businesses continue to see falling turnover as a result of pandemic-related shutdowns and restrictions. Now, another court case has offered insurers greater hope that judges will support their position that not all business interruption claims should be paid. Intelligent Insurer investigates.