The coronavirus pandemic and resulting lockdowns have significantly impacted commercial and specialty lines of insurance, both in terms of claims volumes and financial losses. The rapid spread of COVID-19 in the first half of 2020 caused drastic lockdowns, forcing the closure of businesses, cancellation of events and a general curtailment of economic activity around the globe.

Insurers are not big polluters in their own right. Nor do they typically have lots of physical assets at risk, except indirectly through investment portfolios either now or in the future when economic transition raises the possibility of stranded assets. Yet the impacts of climate on insurance operations are only too evident.

U.S. insurers are taking a closer look at the recruiting and succession practices of corporate customers, worried about mounting lawsuits over a lack of diversity among top executives and directors, industry sources said.

The way insurers collect, analyze and use data is impacting every part of the commercial insurance value chain, from businesses to brokers to insurers.

Although the insurance sector has invested nearly $28 billion in customer experience, just 49% of customers feel their insurance provider will be responsive to their basic needs, according to the Customer Compass report, which is a survey by EIS, a core and digital platform provider for insurers.

In a time fraught with world-changing risks, many businesses are naturally looking to upgrade their risk management capabilities. Increasing the budget allocated to risk management is just one step, but business leaders often think this is enough and stop there.

Hurricanes are keeping their staying power longer once they make landfall, spreading more inland destruction, according to a new study. Warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as a reserve fuel tank for moisture, the study found.

Richie Whitt, Co-CEO of Markel, has warned that the re/insurance industry’s response to the dispute around COVID-19 business interruption (BI) claims may have a long-term negative impact on its reputation.

There are many things that, to borrow a current phrase, I must ‘own’ that have had a detrimental effect to my career in the insurance industry.

As a physician overseeing other health care professionals, I have a somewhat unique perspective and level of respect for all frontline workers who face significant personal risks each workday during the pandemic.

For decades, companies have monitored their employees’ activities at work and on office equipment, checking telephone records, email traffic and internet histories. It is often part and parcel of corporate life and many employees have learned to accept it.

Eastern European criminals are targeting dozens of U.S. hospitals with ransomware, and federal officials on Wednesday urged healthcare facilities to beef up preparations rapidly in case they are next.

This year has been a tumultuous one for so many reasons, highlighted by the COVID-19 pandemic changing nearly every aspect of life and compounded by the national discourse on racism, diversity and police violence in the wake of the George Floyd murder and countless other cases gaining national attention.

The racial reckoning of recent months has raised the bar for business leaders. It is no longer enough for them to simply understand that a diverse group of employees, managers, executives and board members creates better results.

Amid the COVID-19 outbreak, many companies have transitioned to an at-home workforce. While remote work itself is not new, the sheer volume of companies deploying technology to stay productive and connected is greater than ever before, potentially proliferating cyber security risk.