The Insurance Industry Responds


THE INSURANCE INDUSTRY RESPONDS TO COVERAGE QUESTIONS

AUGUST 18
Has Lloyd’s just found the answer for pandemic insurance cover?

Insurtech start-up Thimble has been selected to take part in the Lloyd’s Lab accelerator program, in which the company will develop an insurance solution to address the pandemic coverage gap of small businesses. Read more here.

AUGUST 11
Lloyd’s selects ten insurtechs for cohort focused on COVID-19 risks

Specialist insurance and reinsurance market Lloyd’s has announced its new cohort of InsurTech disruptors that will join the Lloyd’s Lab innovation accelerator programme. Read more here.

JULY 29
Chubb CEO Greenberg Laments U.S. Govt. Covid-19 Setbacks, Promotes Diversity Initiatives

Chubb’s employees have begun to return to their offices in many countries around the world as governments have brought the coronavirus pandemic under control. That’s been a problem in the United States, however, and points to greater problems with federal COVID-19 efforts, argues President and CEO Evan Greenberg. Read more here.

JULY 23
Travelers Reports Q2 Loss on Catastrophes, Investments; Only Modest COVID Impact
The Travelers Companies reported a net loss of $40 million for the quarter ended June 30, 2020, compared to net income of $557 million in the prior year quarter. Read more here.

JULY 21
Hurt by COVID 19, W.R. Berkley’s Profit Plunges
Larger investment losses and COVID-19 took a substantial bite out of W.R. Berkley’s 2019 second-quarter net income, but the specialty insurer and reinsurer still stayed in the black overall. Read more here.

JULY 06
Progressive reveals profits in face of pandemic refunds

Despite reporting a significant drop in claims and providing auto insurance customers with premium refunds, Progressive generated a substantial profit during the pandemic – a detail that consumer advocates believe is unfair to customers. Read more here.

JULY 01
Breakingviews – Corona Capital: Drug hoarding, Vacation-free world

Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. Read more here.

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THE INDUSTRY HELPS THEIR CUSTOMERS

SEPTEMBER 8
Elephant Insurance Discounts Auto Coverage for Work From Home Customers

Policyholders and spouses working from home and driving less are eligible to receive the new discount, depending on the number of days driven to work and the customer’s occupation. Read more here.

AUGUST 04
USAA, the country’s fifth largest property-casualty insurer, is returning an additional $270million dividend to auto insurance policyholders. This follows earlier announcements that USAA would provide dividends totaling $800 million to its members as a 20% credit on three months’ worth of premiums. Read more here.

JUNE 13
Insurance companies continue offering discounts for Texas drivers during coronavirus pandemic
Most insurance companies are now offering discounts on new or renewed coverage plans. Claims are down, and that means premiums are going down too. Rates are set before carriers know the true cost of claims. And with so few lately, it’s a good time for drivers to save. Read more here.

JUNE 05
Mercury Insurance Customer Giveback Program Runs through June
Mercury is giving back 15% of monthly personal auto insurance premiums, 10% of monthly business auto premiums, and 15% of select commercial multi-peril policy monthly premiums to customer accounts in early May, and a second credit will be applied in early June. Learn more.

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THE INDUSTRY HELPS COMMUNITIES

Insurance Industry Charitable Foundation
Looking to support our communities? The Insurance Industry Charitable Foundation (IICF) helps communities and enriches lives by uniting the collective strength of the insurance industry in providing grants, volunteer service and leadership. Read more here. #insurancegivesback

IICF gets creative about giving back during COVID-19
The Insurance Industry Charitable Foundation is mixing exercise, friendly competition and team building to continue its charitable efforts. Read more here.

JULY 23
Lloyd’s of London to insure COVID-19 vaccine distribution
Lloyd’s of London, the world’s largest insurance market, plans to begin offering coverage of coronavirus vaccine deliveries. Read more here.

JULY 20
USAA foundation awards SAISD $325K to assist students during distance learning effort
As more school districts are making changes to distance learning–there are many students in our area that don’t have access to the technology they need. Read more here.

JUNE 05
Germania’s Hometown Giving Initiative
With the aid of local restaurants, Germania provided 3,671 meals and 1,606 sweet treats to 3,085 employees across the state. Not only was this a chance to provide much needed relief for these employees, it helped bring business to these local eateries, which have all been impacted by the recent pandemic. Read more.

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