The Zacks Multiline Insurance industry comprises companies that provide a single insurance coverage, bundling automobile, homeowner, long-term care, life and health insurance to individuals and businesses. The insured pays a single premium and is covered for many things through a single contract.
These companies cover commercial and personal properties, automobiles, marine, livestock, aviation, personal accident, life including permanent and term insurance, supplemental accident and health insurance, workers’ compensation, annuity products, private mortgage insurance, et al. The industry participants also provide risk management services.
Here are the industry’s three major themes:
- The U.S. multiline-insurance sector should face operational challenges due the pandemic. Slowdown in economic growth might weigh on new sales and insurable exposures. While auto claims are likely to decline, frequency of claims from essential service industries are bound to rise. Further, a spike in mortality will induce higher claim payments for life insurance coverages. A low interest rate and