Industry Roundup: May 28th, 2021
COVID Takes $8 Billion Bite Out of Global Multiline InsurersGlobal multiline insurers (GMIs) took an $8 billion hit in 2020 thanks to the COVID-19 pandemic, according to a new report from S&P Global Ratings. However, no insurer among those rated in the report fell into a position where its capital position was insufficient to meet regulators' expectations. Cannabis Insurance Market Set to Soar Under Biden AdministrationThe cannabis market in the US got some uplifting news last week when officials in New York finalized a deal to legalize recreational marijuana in the state, opening the doors for a $4.2 billion industry, according to The New York…