Market News

Fitch Ratings says a review of the COVID-19 pandemic's impact on global insurance sector ratings found that the rate of negative outcomes highlights the industry's resilience going into the pandemic. The rating agency defined "negative outcomes" as the combination of negative outlooks, negative watches, and downgrades. Read More

Expanding state workers compensation laws to cover COVID-19 would increase loss estimates and pose a potential earnings hit to insurers writing workers comp, according to A.M. Best. A number of states have begun the process of enacting legislation or issued executive orders on workers compensation coverage for essential employees. Read More

Eversheds Sutherland has rolled out its alternative legal services provider subsidiary Konexo in the United States. The firm launched Konexo in June 2019. Carmen L. Brun, who previously practiced in Eversheds Sutherland's Securities Enforcement and Litigation practice, is leading the US expansion. Read More

A special COVID-19 index report from IVANS found that due to the impact of the pandemic March and April personal and commercial lines insurance transactions were down significantly. New commercial lines policy transaction volume was down 38.9 percent at the end of May relative to the beginning of March. Read More

Captives can play an important role in addressing emerging risks such as cyber risks or with volatility such as that seen with property risks, according to Steven Bauman, head of AXA XL's global programs and captive practice in North America. Read More