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FedNat Holding Company Reports Fourth Quarter and Full Year 2020 Results

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
FedNat Holding Company Reports Fourth Quarter and Full Year 2020 Results
FedNat Holding CompanyMarch 2, 2021 GMT
SUNRISE, Fla., March 02, 2021 (GLOBE NEWSWIRE) FedNat Holding Company (the “Company”) (Nasdaq: FNHC) today reported results for the three and twelve months ended December 31, 2020.
Q4 2020 highlights (as measured against the same three-month period last year, except where noted):
Net loss of $32.9 million or $2.40 per diluted share
Adjusted operating loss of $26.9 million or $1.96 per diluted share.
$31.1 million, pre-tax, net of recoveries, of claims related to Hurricanes Delta, Zeta and Eta, which together impacted portions of Texas, Florida, Louisiana and Alabama, as previously communicated. ....

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Marine insurance: IRDAI in talks with INSA to set up P&I club

Marine insurance: IRDAI in talks with INSA to set up P&I club
March 03, 2021
Subhash Chandra Khuntia, Chairman IRDA - THE HINDU×
The Insurance Regulatory and Development Authority of India (IRDAI) is in talks with Indian National Shipowners Association (INSA) to develop a protection and indemnity insurance club (P&I club
) in India, a move that will support the development of a marine insurance market in India, said insurance sector players at a Maritime India Summit.
Marine premium formed about 2 per cent of the gross domestic premium in FY20. India has been looking to put in place a P&I club for a few years now. ....

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Aon to launch 'first of its kind' cryptocurrency pilot

It says the pilot will represent a huge milestone for the digital asset and insurance industry. ....

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Term insurance: Cover costs may go up as insurers mull premium hike

Although the premiums for term insurance plans might increase in the near future, a strong drop in demand for these products is not expected as the customer is now more aware of the need for term insurance ....

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'Silent cyber' exposure highlights need for standalone products: S&P

23-03-2020
The cyber insurance market is underdeveloped , lacking in standalone products that will be able to meet expected future demand, even as the exposure to silent cyber and losses from attacks continue to rise, according to S&P Global Ratings.
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