Instant Insights / 2021: Insurance trends and issues to watch

After a year as challenging as 2020, insurance professionals and insureds looking at 2021 with a positive outlook. But that doesn’t mean they are resting on their laurels. Now is the time for agents, brokers, and insurers to strategize for the months ahead. These articles provide insights into the insurance and risk management trends to keep top-of-mind this year.


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The past year turned out to be the most active hurricane season on record, with 30 named storms, of which six were Category 3 or higher. 2020 was the fifth consecutive year with an above-normal hurricane season. (Credit: National Oceanic and Atmospheric Administration) Adding to 2020′s catastrophe loss total, the past year turned out to be the most active hurricane season on record, with 30 named storms, of which six were Category 3 or higher.  (Credit: National Oceanic and Atmospheric Administration)

Year-end numbers are in, and for the property & casualty industry, the financial results for 2020 were dictated by the ongoing impact of the COVID-19 pandemic and catastrophe losses, a new AM Best report explains.

Best’s Market Segment Report, “Catastrophes and COVID-19 Changing Business Trends for P&C Insurers,” compared direct premium volume for 33 P&C lines of coverage through the third quarter of each of the last five years. For most lines, premium volume had been rising through the end of 2019, data shows. This trend reversed in 2020 for a number of key reasons pertaining to the global pandemic and extreme weather activity.

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Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

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