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Sep 16
Industry Roundup: What Actions Can Employers Take if Staff Avoid Covid-19 Vaccines?; Civilian Space Tourism: There's Coverage for That; Hurricane Ida: Estimated Insured Losses Revealed

Newer Contractors, Laborers Account for Most WC Claims

Building and construction firms that have been in business for four years or less account for three-quarters of workers' comp claims in the contractor sector, according to AmTrust Financial.

Flood Risk Drivers: Rising Sea Levels, Extreme Weather & The Moon

By the mid-2030s, every U.S. coastal region will experience rapidly increasing high-tide floods, or so-called sunny day floods, according to the National Aeronautics and Space Administration (NASA), which explains a lunar cycle will exacerbate rising tides and usher in a decade of increasing flood risks in the U.S.

The Rise of Insurtech Does Not Mean The Fall Of Insurance Agents

Agents must rethink their relationship to technology and leverage it to do their job better while staying focused on the more human elements of insurance — relaying industry know-how and network connections to get customers the best value and service.

Hurricane Ida: Estimated Insured Losses Revealed

Insured losses from Hurricane Ida will likely be close to $18 billion, with $40 million in the Caribbean and the balance from wind and storm-surge damage in the US, according to catastrophe modeling firm Karen Clark & Company (KCC).

What Actions Can Employers Take if Staff Avoid Covid-19 Vaccines?

They can require vaccination and fire employees who don't comply, or take other actions such as withholding company perks or charging extra for health insurance. Employers have to offer exemptions or accommodations from vaccine requirements for some who don't get the shots for medical or religious reasons.​

Civilian Space Tourism: There's Coverage for That

To give future interplanetary travelers peace of mind as they sojourn beyond the stars, battleface Travel Insurance is launching a line for civilian space tourism. The policies will be custom-built for each individual and trip, so limits and exclusions will differ and be dependent on specific flights and customers.

U.S. Excess & Surplus Insurers Set for Strong Rebound After Poor 2020

U.S. property & casualty (P/C) insurers that specialize in the E&S market are seeing better growth and profit opportunities as premium rates rise in many segments. Growth did not bring profitability in 2020, however, as E&S materially underperformed the broader P/C industry in 2020 with a 107% direct combined ratio.

Overlapping Disasters Expose Harsh Climate Reality: The U.S. is Not Ready

Disasters cascading across the country this summer have exposed a harsh reality: The United States is not ready for the extreme weather that is now becoming frequent as a result of a warming planet.

Biden Administration Seeks Views on Climate Risks in Insurance, Financial Markets

In a season of daunting wildfires and flooding, the Biden administration is taking an initial step to assess how climate change could harm financial markets with the launch of a 75-day comment period on how the impacts could reshape the insurance sector.​

'Mission: Impossible 7' Studio Sues Chubb Over Covid-19 Claims

Paramount Pictures, the studio behind countless blockbusters, is taking Federal Insurance Co., part of Chubb Ltd., to court over the denial of insurance coverage for losses Paramount claims it suffered due to delays and other interruptions during the filming of “Mission: Impossible 7″ amid the COVID-19 pandemic.​

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