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What's happening in insurance today? From market changes and M&A activity to new coverages, the insurance industry is ever-evolving. To stay up-to-date on the business, these articles, which are updated regularly, will help insurance professionals maintain a competitive edge.

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Here at the 2020 midway mark, it’s confounding to consider just how much the world has changed since the year began. A few months ago, P&C insurance organizations mostly grappled with issues like fully embracing user-based insurance (UBI), maximizing data analytics and machine learning, implementing drone inspections, and continuing the push to innovate.

Then, COVID-19 and its corresponding financial grip supercharged the demand on insurers and insureds to adopt new tools and processes. The industry will continue to adjust as fallout from the virus pandemic impacts claim frequency and premiums. P&C insurance is poised to lose between $15 billion and $30 billion due to pandemic-related claims, according to S&P Global Ratings. Lloyd’s of London says that figure could be as high as $203 billion.

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Elana Ashanti Jefferson

Executive Editor Elana Ashanti Jefferson is a veteran journalist and communications professional. She can be reached by sending email to [email protected]

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