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United States Non-Life (Property & Casualty) Insurance Market Report 2023 Featuring State Farm, Berkshire Hathaway, and More - A Focus on Market s Response to Natural Perils and Industry Developments
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APCIA Announces Award Winners Among 2023 Class Of Emerging Leaders
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Pinnacol Named to Ward s 50 List of Top Insurance Providers for Fourth Consecutive Year
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P/C Insurers Returned $13B in Premiums Due to COVID-19 Reduced Exposures April 21, 2021
U.S. property/casualty insurers returned nearly $13 billion in premiums to policyholders in 2020 to reflect reduced exposures from the COVID-19 pandemic.
Auto insurers returned premium in the greatest numbers, though general liability, workers’ compensation, event cancellation and inland marine sectors all reported returns of premium due to pandemic-related reductions in risk exposure, A.M. Best said in new analysis.
Much of the return totals came during the first six months of 2020, when the initial pandemic lockdowns led to reduce driving and overall commerce in the greatest volume, according to the report.