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May 13
Industry Roundup: Claims Frequency Up for 2021, but Workers' Comp Profitability 'Unprecedented'; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1

Court Says Federal Law Preempts, Tosses New York Suit Over Amazon Worker Safety

A New York state appeals court on Tuesday dismissed state Attorney General Letitia James' lawsuit accusing Amazon.com Inc. of failing to adequately protect thousands of workers at two New York City facilities against COVID-19.

 

Munich Re Writes Down $740M Bonds Over War in Ukraine

Munich Re incurred steep losses on Russian and Ukrainian bonds in its investment portfolio and warned of risks to its outlook from the conflict between the two countries, along with volatile markets and the pandemic.

 

Claims Frequency Up for 2021, but Workers' Comp Profitability 'Unprecedented'

For the first time in more than a decade, workers' compensation claims frequency, outside of COVID-19 illness claims, increased in the United States last year.

 

Allianz Books Extra $2 Billion in Legal Expenses

Allianz SE has set aside an additional $2 billion for legal costs associated with ongoing settlements with investors in funds that suffered losses during the March 2020 market chaos.

 

How Many Americans Lie on Auto Insurance Applications?

A recent Finder.com study found that many auto insurance applicants lie in hopes of saving money and the data revealed that 35.8 million Americans across all demographics fib to insurers for lower auto rates.

 

D&O Market Has Most Profitable Year Since 2014 but Results May Be an Anomaly

The directors and officers insurance marketplace in 2021 enjoyed its most profitable year since 2014 but results have to be “viewed as a possible aberration rather than a the start of a trend," according to a new report from AM Best.

 

Wave of Emerging Risks to Threaten the Global Shipping Industry

In 2021, 54 total losses of vessels were reported globally, 11 less than in 2020 due to to an increased focus on safety measures on multiple fronts, including training and safety programs, improved ship design, technology, and better regulation, however…

 

What Drove Auto Insurance Shopping Trends in Q1 2022

Young drivers are shopping for policies at a higher rate than older generations, says the Q1 2022 Shopping LIST Report from J.D. Power.

 

Usage-Base Insurance is About More Than Just a Discount

Despite its different approach, the goal of rewards based UBI program remains the same: improve driving behavior to make roads safer for everyone.

 

Lemonade Premiums Up 71% Amid Growing Losses

Insurtech Lemonade reported a 71% increase in gross earned premiums in the first quarter of 2022, finishing the period with $96 million, up from $39.8 million. 


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