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Aug 27
Industry Roundup for August 26, 2021: Preparing Work Comp for Future Pandemics; Business Travel During a Pandemic; Return-to-Work Plans

Extreme Weather Buffets Catastrophe Insurance Losses

Global catastrophe losses hit an estimated $42 billion in the first half of 2021, according to a new report from Swiss Re Institute. Natural catastrophe losses hit $40 billion in the first half, driven by a deep winter freeze, hailstorms and wildfires.​

Today's Insurance Talent Want These 4 Employee Benefits

As the COVID-19 pandemic carries on, American workers are caring a whole heck of a lot more about work-life balance, and an increasing number are switching jobs as a result.

Amazon Loses Bid to Halt New York Warehouse COVID Safety Probe

U.S. District Judge Brian Cogan in Brooklyn rejected Amazon's claim that Attorney General Letitia James acted in bad faith by trying to police its pandemic response, and stop its alleged retaliation against workers who were unhappy the company wasn't doing more.

Insurers Expect COVID-19 Liability Claims Against Employers as Employees Return

Liability insurers on both sides of the Atlantic are scaling back the cover they offer companies ahead of an expected wave of discrimination claims as employers call staff back to their desks after 18 months of pandemic-induced home working.

The New Realities of Business Travel During a Pandemic

Many employees are eager to go on business trips eventually. While they may be ready to travel again, 88% of survey respondents worry that fellow travelers could put them at risk by not responsibly following COVID protocols.

Sompo International Unit Creates Pandemic Coverage

Sompo International division Sompo Global Risk Solutions (Sompo GRS) will be providing insurance, coverage from which will be triggered by civil authority restriction as a result of international public health emergencies declared by the World Health Organization.

Healthcare Costs, Premiums Likely to Rise for Years Due to COVID-19

Health implications related to COVID-19 will continue to drive elevated health system utilization long after the acute phase of the pandemic has concluded, likely leading to increasing costs and higher insurance premiums for decades, according to a report by Fitch Ratings.

Pandemic Staffing Crunch Creates Commercial Insurance Hurdles

The COVID-19 pandemic labor crisis continues to be one of the top stories of 2021. While the bulk of attention has focused on retail, restaurant and service sectors, the shortage is impacting industries across the board, from Wall Street banks to construction or trucking; this staffing crunch appears to be more than a short-term blip.

Making Return-To-Work Plans Amid the Latest Pandemic Surge

Recent spikes in COVID-19 and lagging vaccination rates in some areas have raised concerns about how to proceed as many companies work to transition employees back to the office or hybrid arrangements this fall. The findings from the perspective of employees indicate that employers should keep the following recommendations in mind when determining work arrangements for their employees in the coming months...

Preparing Workers' Comp for Future Pandemics

The National Council on Compensation Insurance (NCCI) is proposing that any event exceeding $50 million in losses be excluded from the data used to set rates, including future pandemics.


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