Industry News

​Marsh Brokers New Amazon Insurance Network Offering Coverage to Online SellersInsurance broker Marsh said it has collaborated with Amazon to build a new digital insurance network, Amazon Insurance Accelerator, where small businesses selling on Amazon can purchase product liability coverage.AM Best Downgrades Credit Ratings for Kingstone Insurance CompanyAM Best has downgraded the financial strength rating to B+ from B++ and the long-term issuer credit rating to “bbb-" from “bbb" for Kingstone Insurance Company (KICO) of Kingston, New York.Companies Are Scrapping Plans for Fall as Delta Variant SpreadsUp until a few weeks ago, corporate leaders felt confident about what to expect this fall. Offices would reopen…

​Insurance Won't be Enough After Miami Condo CollapsePreservation of evidence is critical to understanding why a Florida oceanfront condominium collapsed and to protect the legal rights of victims and others, a judge said Wednesday. Miami-Dade County is expected later this month to hand over control of the Champlain Towers South site to a court-appointed receiver. Cryptocurrency: D&O and E&O Insurance IssuesAs of May 26, 2021, the estimated market capitalization of the cryptocurrency market exceeded $1.7 trillion despite recent market fluctuations. There is growing interest by a wide range of publicly-traded companies in incorporating crypto into their business models given the ongoing market development. Self-Service Apps…

​P&C Insurers' Net Income Increased in Q1 2021According to a new report from Verisk and the American Property Casualty Insurance Association (APCIA), U.S. private property and casualty (P&C) insurers experienced growth in net income after taxes in the first quarter of 2021 when compared to the same period in 2020. However, insurers' combined ratio, which is a key measure of underwriting profitability, worsened.M&A Boom is Under Threat in D.C. As Aon-WTW Deal DissolvesWith a new appetite for stepped-up antitrust enforcement sweeping Washington, big deals are already getting harder to do. Aon's decision on Monday, July 26, to abandon a $30 billion takeover of insurance brokerage…