USA Focus

News

NAIC accused of inertia on climate change

Insurance regulators criticised for no change to climate survey in latest meeting

The Hartford knocks back Chubb takeover bid

Chubb proposal is "not in the best interests of shareholders"

Chubb bids for The Hartford

Bid values company at $23bn

US flood insurance has been "an abject failure"

Insurance state commissioners debate need for nationwide climate change policies

Civil unrest risk transfer market hampered by lack of credible modelling

US insurers showing increased interest since pandemic, but few options as of now, says Verisk

Optimism for large insurers' ability to meet LDTI deadline

US accounting standard less onerous than IFRS 17, says SOA fellow as questions on adoption grow

US winter storms will lead to 750,000 claims and $18bn insured loss

Cat modelling chief Karen Clark says similar events could reasonably occur in future

New Orleans restaurant loses landmark US BI case

Judge rules against lawyer John Houghtaling in huge insurer win

Bermuda's hedge fund reinsurers move away from failing formula

High investment return strategy has not worked, says Fitch

Flu mortality "zero" this winter, says Reinsurance Group of America CRO

Insurer reports incredible flu data and issues positive guidance on Covid-19 for 2021

Analysis

Climate change could radically reshape US insurance losses

Re/insurers in the US could face a 20% increase in hurricane-related property losses because of climate change. But that's just the average. In certain regions, the losses might be several times higher by 2050, as AIR Worldwide's Peter Sousounis explains to Christopher Cundy

Lawyer says he has "smoking gun" in US business interruption case

John Houghtaling, who is handling $3bn in claims on behalf of small businesses forced to close by Covid-19, believes his case will be a watershed for the US BI saga. Sarfraz Thind reports

CROs pinpoint climate change as key issue for 2021

InsuranceERM's year-end poll of risk management experts found widespread agreement that climate change would be a key risk and opportunity for the insurance sector in 2021. Paul Walsh reports

Covid-19 mitigation in the US: compliance drops, virus rages

In a follow-up to his article on applying ERM expertise to limit the spread of Covid-19, Dave Ingram reports on adherence to mitigation requirements in November, including for the key Thanksgiving holiday