Industry News

​COVID Takes $8 ​​Bi​​llion 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 Insuranc​​e M​​arket 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…

​Wednesday, May 26, 20211:00 p.m. - 2:00 p.m. ETRegister NowJoin the Travelers Institute for a dynamic conversation on the future of cities in the post-pandemic era, including a look at two of our nation's most vibrant urban centers, New York and San Francisco. Kathryn S. Wylde, President & CEO of the Partnership for New York City, and Jim Wunderman, President & CEO of the Bay Area Council, two champions of economic development and urban growth, join us to share their unique perspectives on how the pandemic has changed or accelerated trends and public policy priorities.Presented by the Travelers Institute, the Partnership for New York City, the Bay Area Council, Big…

COVID-19 Insurance ​​​​Coverage Cases are Hitting Appellate CourtsBusinesses have filed nearly 1,700 lawsuits for business interruption coverage claims following lockdowns in 2020 and there are now 120 cases on appeal, in both state and federal courts, that allege insurance companies wrongfully denied coverage for pandemic-related business interruption claims. Colonial ​​Pipeline Hack: How a Cyber Policy May Have RespondedNew reports indicate that Colonial did have cyber insurance, but how does a cyber policy work in the event of a cyberattack? Learn how important cyber coverage really is by reviewing this current cyber attack.NCCI report: Workers' C​omp System 'Stronger Than Ever'When excluding COVID-19, total workers' comp claim…