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AM Best TV Presents “The Greening of Insurance Asset Management: The Push for Responsible Investing”
April 13, 2021 GMT
In
AM Best ’s four-part series, “The Greening of Insurance Asset Management,” top industry leaders discuss how the insurance asset management sector is adapting to meet emerging standards and expectations for climate risk and social responsibility.
From the United Nations to nations and states, regulators and representatives are aligning investing standards with concerns about climate risk and social responsibility. In this segment, insurance and asset experts discuss the strategies and products designed to lower the stress of complying with the new standards and expectations. Watch now: www.ambest.com/review/greening.
Lawmakers Pass Compromise Bill on Pretrial Interest in Personal Injury Cases
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Pascrell, Reed, DeFazio, Diaz-Balart Reintroduce Disaster Aid Bill
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Some States Still Weigh Mandating Business Interruption Coverage
Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a number of states have responded by filing legislation to require business insurance to cover losses from a pandemic.
No state has yet passed a pandemic business interruption mandate. But while lawmakers have not been able to deliver on their proposals to date, the proposals have not gone away.
In 2020, 16 states considered bills but they were either defeated or not acted upon, according to figures from the industry’s American Property Casualty Insurance Association (APCIA).
Fitch Cautious, but Economist Predicts ‘Isolated’ Impact From Business-Interruption Claims
While Fitch Ratings worries that litigation over COVID-19-related business-interruption claims is creating uncertain risk for property and casualty insurers, an economist who once served as a chief advisor to the industry said he doubts there will be a widespread impact.
Robert Hartwig, an associate professor at the Risk and Uncertainty Management Center at the University of South Carolina, said COVID-19 has remarkably left insurers’ combined ratios largely unscathed.
“Amazingly there was virtually no change in the industry’s underwriting performance 2020 v. 2019,” Hartwig said this week during a podcast hosted by the National Association of Mutual Insurance Companies.