2020’s P/C Insurance Industry Results and What They Mean for 2021

Andreas Milano

The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019.

A Mar. 16 report from Moody’s Investors Service, “Rising commercial pricing and economic recovery support earnings in 2021,” reveals that catastrophe losses had a bigger impact than COVID on industry financial results. Analyzing the results for 22 rated U.S. P/C insurers, Moody’s estimates that the group posted $5 billion in coronavirus-related claims and $12.8 billion in weather-related catastrophe losses.

The $12.8

Read More

Visa Allows Payments To Be Settled With Crypto Using Ethereum Network

Andreas Milano

The Daily Beast

UN Report: French Air Strike Killed 19 Civilian Wedding Party-Goers in Mali

MINUSMAOUAGADOUGOU, Burkina Faso—From above, the photographs show a stretch of charred land in the middle of the desert and a mass grave covered in dried tree branches, where people living around Bounti, a village in central Mali, said those who had been killed by French airstrikes were buried. On the ground were images of strewn flip-flops; an empty parka with one outstretched arm; a mangled metal teapot and pieces of shrapnel—some designated with serial numbers—placed next to bright yellow evidence markers and metal rulers.This is

Read More

Construction industry-focused job board goes live

Andreas Milano

Launch of new construction-centric job board.

Annex Business Media, publisher of multiple construction sector business magazines, including HPAC, has launched an industry-specific job portal designed to make both recruiting and job searching more focused and efficient. The portal – www.ConstructionJobsite.ca – is powered by seven of Canada’s leading construction media brands, including:

  • HPAC
  • Electrical Business
  • On-Site
  • Rock to Road
  • Crane & Hoist Canada
  • Canadian Contractor
  • Canadian Consulting Engineer

Together, these brands reach 468,000 industry professionals, a reach that is amplified by 76,000 CASL-compliant emails, 150,000 monthly qualified unique site visitors, social media through Facebook, LinkedIn, Twitter, and Instagram, and

Read More

Millions More to Get Stimulus Payments Next Week, I.R.S. Says

Andreas Milano
Credit…Eric Gay/Associated Press

Some of the most vulnerable Americans still haven’t gotten their stimulus checks, but millions of them who receive federal benefits should get their payments next week, according to the Internal Revenue Service.

People who receive benefits from Social Security, Supplemental Security Income, the Railroad Retirement Board and Veterans Affairs — but do not file tax returns because they don’t meet the income thresholds — were among those who

Read More

Is it okay to have more than one personal loan?

Andreas Milano

Need another personal loan? Here’s what you need to know before applying. (iStock)

At best, personal loans can be a powerful financial tool. Many Americans use them to finance a major purchase or for debt consolidation. In fact, according to the latest quarterly industry insights report by TransUnion, 22.2 million people currently have at least one personal loan and the average personal loan is worth $6,690.

With numbers like those, it’s certainly not uncommon to have a personal loan. However, you may be wondering whether it’s a good idea to have more than one. To that end, we’ve

Read More

Tech trends that will transform the insurance industry in 2021

Andreas Milano

“As the stakes of business survival reached new heights, so too did the momentum of the digital revolution, with insurance companies making clear efforts to improve their agility, deliver better service, and better their customer and employee experience.”

Faheem Shakeel, head of insurance practice at software company Damco Solutions, agreed, noting that while the insurance sector is a “late bloomer when it comes to the adoption of cutting-edge technologies,” the abundance of innovative options is paving the way for the industry’s quick transformation.

“Until the digital revolution accelerated, the insurance sector was content with its legacy models,” he wrote in

Read More