Industry Roundup: Auto Insurers Face Mounting Claims Costs Post-Pandemic; More Organizations Are Saying ‘No’ To Ransomware Demands; U.S. Infrastructure Bill Offers the Groundwork for Personalized Insurance
Auto Insurers Face Mounting Claims Costs Post-PandemicSurging vehicle repair and replacement costs will significantly slash underwriting margins of the country's car and truck insurance providers as claims rebound to pre-pandemic levels.Judge Stands by Decision to Deny Dismissal of Bi SuitThe case involves the important issue of whether the COVID-19 virus causes “physical loss or physical damage." In the motion for reconsideration, Continental Casualty cited several decisions from New York and Illinois asserting that courts in both jurisdictions overwhelmingly found that the presence of the virus does not trigger coverage under a policy requiring “direct physical loss or damage to property."More Organizations Are Saying 'No' To…