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.

So, while little changed at the top in the year since NU Property & Casualty last presented our annual Top 100 and Heads of Lines lists, which uses data provided by S&P Global Market Intelligence, the snapshot that these figures provide is most certainly a historic one.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

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