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Dec 28
Industry Roundup: Stay Lifted on Federal Shot-or-Test Mandate for Large Employers; Trends That are Reshaping the Insurance Market; Cyber Disruptions of Infrastructure Networks Can Cost Millions in a Day

Trends That are Reshaping the Insurance Market

It's no secret that advances in technology have pushed those in the insurance industry to make major changes and a recent 2022 analysis explores four major trends insurers may see as we enter the new year.

 

Berkshire's Candymaker Must Face Worker's Suit Over Husband's COVID Death

A California candymaker must face a lawsuit by an employee who says she caught COVID-19 at work and gave it to her husband, resulting in his death, a state appeals court held on Tuesday, upholding what appeared to be the first ruling allowing a worker's lawsuit against an employer over a family member's COVID death.

 

Tornadoes Have Pushed Insurers' Weather Claims Above $105B for 2021

Devastation from tornadoes that slammed parts of the United States this month will push the insurance industry's 2021 bill for weather-related claims well above the predicted $105 billion, industry experts said, and premiums should rise on worries that climate change will drive more severe weather.

 

Cyber Disruptions of Infrastructure Networks Can Cost Millions in a Day

The resilience of America's critical infrastructure networks has been tested over the last year by a number of serious disasters – both natural and manmade — including winter storms shutting down electrical grids in Texas and the ransomware attacks on the Colonial Pipeline and meat producer JBS USA.

 

What Does Workers' Comp Look Like for Remote Employees?

The COVID-19 pandemic has forever changed the way millions of people work and it is estimated that 22% of the workforce (36.2 million Americans) will work remotely by 2025.

 

Stay Lifted on Federal Shot-or-Test Mandate for Large Employers

The Biden administration's emergency COVID-19 shot-or-test rule for large employers can go into effect now that a federal appeals court in Cincinnati lifted another tribunal's order that had blocked the measure.

 

Insurance Outlook for Entertainment and Live Events in 2022

At the start of 2020, the live event business already had major issues related to risk management and insurance and COVID-19 made those risks seem like minor plot points in a movie about natural disasters.

 

Embedded Insurance: A Potential Solution for the Underinsured

Though small business insurance helps build resilience to mitigate that risk, insurance coverage isn't always foolproof as evidenced by the fact that 75% of businesses in the U.S. are underinsured by 40% or more.

 

Shipping and Logistics Costs Expected to Keep Rising in the Year Ahead

Companies are bracing for even steeper increases in shipping and logistics costs next year, after supply-chain costs skyrocketed during the Covid-19 pandemic.

 

Catastrophe Claims 48% Above Average by End of November

Jefferies analysts reported that insured natural disaster losses are 48 percent higher than the long-term average as of the end of November, and 34 percent higher than the 10-year average.

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