|
Hi All! This week in insurance we are following COVID BI judgements, antitrust asset divestiture opportunity, a telematics merger & bonus. Here are the three things we learned this week: |
[1] |
|
Insurers Lose COVID Judgement Judges have mostly denied plaintiffs suing their insurers for COVID business interruption. This week one in NH ruled against the insurers and ordered 7 companies to pay a hotel operator who experienced significant losses during COVID shutdown. In a time where cyber risks are looking dangerous, this will be additional fuel to the fire on the rise of commercial rates and will force the industry to reckon with virus exclusion language in BI coverage. |
[2] |
|
US Justice Aims to Block The AON / Willis merger has been headed towards closing but the US has joined with other regulators expressing concern and suing to block the merger. Most still expect the deal with close but there will be further divesture by both parties of business units, creating opportunity for others to scoop up these assets and create capabilities. We will likely see more interesting deals in the future that will change the trajectory of broker sector. |
[3] |
|
Telematics Vendors Join Forces In M&A this week, the most interesting news came from Cambridge Mobile Telematics announcing the acquisition of True Motion. The two telematics providers will combine to create a stronger offering in the growing mobile telematics sector selling their technology to insurers for tracking driver behavior and creating usage-based products. We will leave you with a Bonus #4 from our friend Ian who has a nice piece breaking down the growth strategy and use of public markets by insurtechs. |
|
Thank you for following us, we appreciate your feedback and continued support. Stay productive, stay safe and stay in touch! |