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Orange County Register (CA) Mar. 16 While pandemic lockdowns helped improve air quality worldwide in 2020, the U.S. saw its air quality worsen particularly on the West Coast thanks largely to record-setting wildfires. And while Southern California dominated the list of most polluted U.S. cities in 2019, the fires of 2020 moved that distinction to Central and Northern California, according to the annual report released Tuesday, March 16, by IQAir, a Swiss company that has partnered with the United Nations to create the world s largest air-quality data platform. Improved air quality was recorded by 84% of the 106 countries surveyed, but areas hit by major wildfires which also included Australia, Siberia and South America did not share in the benefits. ....
Allianz Partners Adds Epidemic Coverage To Travel Insurance Products Allianz Partners, a leading travel insurance and assistance company, is rolling out enhancements to its travel insurance products that may provide coverage to customers who become ill with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding due to a suspected illness. This new coverage formalizes and adds to some of the temporary accommodations the company put into place in March 2020 to assist travelers who had been impacted by the COVID-19 crisis, the insurer said in a news release. Specifically, the enhancements add epidemic-related illness as a covered reason to cancel or interrupt a trip, or seek reimbursement for emergency medical care, emergency medical transportation, change fees and loyalty points redeposit fees. The product enhancements also allow insured customers to cancel or interrupt their trip if they or their traveling companion have been indi ....
Commercial Insurance Rates Take Another Hike In Q4 ARLINGTON, VA, March 8, 2021 U.S. commercial insurance prices again grew significantly in the fourth quarter of 2020, according to leading global advisory, broking and solutions company Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the fourth quarter of 2020 with those charged for the same coverage and quarter in 2019 and found the aggregate commercial price change reported by carriers was above 10%, the highest increase in the history of CLIPS. Data for nearly all lines indicated significant price increases in the fourth quarter with the largest increases coming from excess/umbrella liability and directors’ and officers’ liability. The outlier continues to be workers compensation, which indicated a slight price reduction, in contrast with all other surveyed lines. Price changes for most lines were consistent with th ....
Flood Insurance Changes Could Spike Costs Marlborough Enterprise (MA) As the Federal Emergency Management Agency works to compensate for more than 50 years of mispriced flood insurance, those likely to be hurt most are the ones least equipped to handle unexpected expenses – middle-class and low-income homeowners. Scheduled to take effect in October is a major overhaul of FEMA s National Flood Insurance Program – the biggest change to the program s methodology since 1968. Experts say the recalibration of premiums will be representative of a structure s actuarial flood risk. In other words, for the first time since Lyndon B. Johnson was in office, flood insurance premiums will reflect a home s individual, present-day risk. ....
NAIC Releases 2020 Market Share Data Targeted News Service (Press Releases) The National Association of Insurance Commissioners (NAIC) released data today on life/fraternal and property/casualty insurers. The reports provide market share information and identify leading insurance writers in several key lines of business. The numbers in the reports will increase throughout the week and month as the report runs. The 2020 market share data include countrywide direct written premiums for the top 25 groups and companies as reported on the state page of the annual financial statement for insurers that report to the NAIC. The Life/Fraternal Market Share report contains cumulative market share data for life insurance, annuity considerations, and an aggregate total of life insurance, annuity considerations, deposit-type contract funds, other considerations and accident/health insurance. ....