The impact of 2020′s major P&C insurance-industry business trends is now beginning to take shape in the year's reporting of company and group premium growth and combined ratios.
Most notably, insurers navigated a myriad of challenges around the COVID-19 pandemic, from the ongoing debate regarding business interruption coverage to the demand in 2020 that carriers refund or adjust premiums based on a policyholder's unique circumstances. Equally pressing when taking a global view of the industry has been the impact of the novel coronavirus on workers and subsequently the workers' compensation insurance market.
"There are a lot of moving parts that were kind of unusual in 2020," says Tim Zawacki, principal research analyst covering the U.S. insurance industry for S&P Global Market Intelligence, the agency that each year compiles insurance company, group and market-specific premium reporting from the National Association of Insurance Commissioners (NAIC) and then shares that research with NU Property & Casualty magazine for the presentation on the following pages. The reporting is based on insurance carrier statements from 2020, which may include business outside the U.S.
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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].
