Activity from natural disasters was high compared to recent years, but the most-felt impacts on the industry stemmed largely from retail businesses and personal lines consumers who have experienced financial hardship as a result of the pandemic (Credit: Wright Studio/Shutterstock.com)
In many ways, 2020 felt like a constant catastrophe for the insurance industry, affecting every carrier. Going into 2021, the uncertainty around what types of claims firms will receive — and the volumes of those claims — continues to create a sense of unease within the industry. And on top of that, the way carriers are working has evolved as they strive to balance employee safety and productivity.
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