Casualty Insurance
. Co., 584 So. 2d 12, 14 (Fla. 3d DCA 1991), a Florida appellate court held that “an offer to settle is not a prerequisite to the imposition of liability for an insurer’s bad faith refusal to settle, but is merely one factor to be considered.” The Court explained “[w]here liability is clear, and injuries so serious that a judgment in excess of the policy limits is likely, an insurer has an affirmative duty to initiate settlement negotiations.” From its name, a lawsuit for third-party bad faith where the claimant never offered to settle at or below the applicable coverage limits became known as a “
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NEW YORK, April 1, 2021 /PRNewswire/
The travel insurance market is expected to grow by USD 12.61 billion with a CAGR of almost 9% during 2021-2025, according to a new research report by Technavio. The report also highlights the COVID-19 pandemic impact on the market along with detailed insights on the upcoming growth opportunities and challenges for the market players.
Technavio has announced its latest market research report titled
Travel Insurance Market by End-user and Geography - Forecast and Analysis 2021-2025
Make confident decisions using our benchmarks and analysis.
Travel insurance market: Growing tourism and business travels
The travel and tourism industry has witnessed substantial growth in recent years. The government of numerous countries has made it mandatory to attach travel insurance documents while applying for visas, which is also contributing to market growth. Major market vendors such as AXA and Allianz Group are incorporating digital
Allianz and Monument Re Complete Sale of Part of Allianz s Closed Life Book Portfolio in Belgium
Allianz continues serving the portfolio until 2022 to secure a seamless transfer for its clients broker partners.
Allianz remains committed to the Belgian market, focusing on open books in Life, Health, Employee Benefits and Property-Casualty, offering innovative and modern product lines like Branch 23.
The transaction has been approved by the Belgian regulator with effective date April 1st, 2021 and follows the announcement released in August 2020: Allianz Benelux and Monument Re announce closed book portfolio transaction.
With the completion of the transaction, both Allianz Benelux and MAB will now focus on ensuring a seamless transfer for clients and broker partners involved. Therefore, Allianz continues to service the portfolio throughout 2021 and into 2022.