COVID-19

About 20 nations have signed on to a deal to stop funding foreign fossil fuel projects -- with a last-minute entry by Italy. But the impact of the accord is undermined by the absence of key countries like China.

A crucial point that many businesses engaged in the B2B sharing economy are increasingly aware of is that engagement often carries considerable liability risk, which is why it is of utmost importance for businesses to insure against this risk with robust verification services.

About four in 10 executives cited technology as their company’s greatest challenge, twice as many as in 2019, according to a new survey from LIMRA and Boston Consulting Group.

That’s the takeaway from an Aon Plc survey of 2,344 risk managers, chief risk officers and chief financial officers conducted in the second quarter. Cyber attacks were the No. 1 most-cited hazard, and more than half of the Top 10 risks executives say they face today are tied to the pandemic, according to survey results released Tuesday.

The number of cyber insurance claims AGCS has seen has increased in the past few years, following along with general cyber risk trends. In 2020, the company received more than 1,000 in total, compared to 80 in 2016. This trend has continued into 2021.

The P&C industry has been on an automation path for many years. When the pandemic hit, it became a catalyst for accelerating automation and digital transformation.

What’s driving your digital claims transformation program: COVID? Competition? Or cost? Whatever the answer, we could be in danger of leaving the customer out of the equation in the rush to digitize and automate insurance processes. It could be time to take a more user-centric approach, reimagine the customer journey and find out what customers actually want.

With many employees choosing to work remotely, the insurance giant will sell its offices in Northbrook, Illinois, according to an emailed statement Friday. The complex in a Chicago suburb has several buildings that total 1.9 million square feet on a 186-acre (75 hectares), Allstate has said in regulatory filings.

Recent EY research confirms how the pandemic fundamentally changed consumer needs, how they plan to increase their financial security, and what insurers can do to seize the opportunity.

The past 18 months have uncovered a vulnerability in the insurance industry, as companies have struggled to maintain consistency in their processes in the face of remote working. Communication processes, in particular, have suffered and as a result, traditional insurers now face the real risk of losing customers to insurtechs and other more technologically advanced companies.

Insurtechs have secured more access to capital in the last few years and by the end of 2020 the total market cap of listed insurtechs surpassed $22 billion, according to the World Insurtech Report 2021.

Progressive Representatives Cori Bush and Alexandria Ocasio-Cortez are leading a group of House Democrats in pressuring party leadership to include an expansion of unemployment aid in the $3.5 trillion tax and spending package being drawn up in Congress.

A new report, IT’s Changing Mandate in an Age of Disruption conducted by the Economist Intelligence Unit, supported by Appian, suggests that to continue with various digital transformations and increase adaptability for the future, some IT improvements must be made.

Almost $87 billion will have been paid in improper or fraudulent supplemental unemployment insurance claims by the time the program expires in September, according to the report from the Pandemic Response Accountability Committee on Wednesday.

Federal Insurance Co. sold Paramount an insurance package that was supposed to cover more than $100 million in losses if cast members aren’t able to take part in the production, resulting in delays or interruptions, according to the complaint filed in Los Angeles federal court Monday.

The decline is likely because of a lack of proactive support and personalized attention, according to a J.D. Power study.

Over half or 62%, of insurers, say they will invest in risk management over the next year, with 55% saying they’ll invest in customer and employee data protection, according to the FIS’ 2021 Readiness Report.

The pandemic didn't stop insurers from wanting to invest heavily in digital capabilities, Deloitte survey finds.

Like so many other businesses, Credit Karma was not spared by the pandemic and its rippling effects on the economy. Their business was prone to the same macro conditions, particularly the tightening of lending standards and credit limits. Join Paul Centopani, National Mortgage News' reporter and Andy Taylor, Credit Karma's General Manager of Home & Mortgage as they discuss how FinTechs can pivot to adapt to the new normal.

New technological innovations, consumer behavior shifts, competition from fresh digital entrants, and regulatory reforms herald the payment environment of tomorrow. In addition, the current pandemic is pushing players to rethink their market fundamentals in an already transitioning industry. Join John Adams, Executive Editor of PaymentsSource and our special guest, Andrew Jamison a virtual card expert with twelve plus years at American Express and CEO & Co-Founder of Extend, in a discussion about the business strategy, management, and innovations in the post pandemic ecosystem and how it can serve the way the economy is headed.