Special Coverage: COVID-19

Massachusetts Begins Phased Reopening, Implements Safety Standards for Workplaces

Posted: May 27, 2020

Massachusetts Governor Charlie Baker has implemented mandatory safety standards for workplaces to reduce the risk of COVID-19 transmissions as the state begins its phased reopening of businesses. All businesses in Massachusetts must develop a written plan for how they will …

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Ship Inspectors Conduct Virtual Inspections of Oil Tankers During Pandemic

Posted: May 27, 2020

Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage. Oil …

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SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis

Posted: May 27, 2020

SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis French reinsurer SCOR announced that its Chairman & CEO Denis Kessler will receive 30 percent less in his annual variable compensation for 2019, which is equal to €325,260 (US$354,333). In ...

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I’m From the Government and I’m Here to Help – Part 4

Posted: May 27, 2020

This is the conclusion of my series of posts about the different bills that states have put forward to force insurance companies to provide business income coverage for losses related to COVID-19. Insurers look for other areas to write business, …

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OSHA asks employers to investigate COVID-19 claims

Posted: May 27, 2020

Employers are once again being asked to investigate positive cases of COVID-19 in the workplace and potentially record those cases for the U.S. Occupational Safety and Health Administration.

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Samsung's smartphone shipments fall 18% due to pandemic

Posted: May 27, 2020

A report said that South Korea-based Samsung Electronics Co. Ltd.'s smartphone shipments plunged 18% year-over-year to 59 million units in the first quarter due to the coronavirus pandemic.

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Insurers balk at paying COVID-19 business interruption claims

Posted: May 27, 2020

U.S.-based Financial Vanguard said that some Nigerian insurers have balked at paying COVID-19 pandemic-related business interruption claims due their interpretations of policy language.

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Allstate, USAA extend coronavirus refunds

Posted: May 27, 2020

As the global COVID-19 pandemic rolls on, carriers are continuing to offer rebates

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Global recession, high unemployment among top concerns globally, report finds

Posted: May 27, 2020

The economic fallout of the COVID-19 pandemic is the top concern of risk managers and corporations in the next 18 months.

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SEC Pursues Coronavirus Fraudsters With Help From Whistleblowers

Posted: May 27, 2020

The novel coronavirus outbreak and economic fallout is proving to be a bonanza for whistleblower lawyers as the U.S. securities regulator cracks down on a range of related misconduct from companies touting sham cures to misuse of federal aid. The …

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Big Changes Coming for Workers’ Comp by Jon Wroten

Posted: May 26, 2020

There is still much unknown about how deeply and pervasively the pandemic will affect the U.S. and global economies; however, a deep and long-lasting recession is now a foregone conclusion. The downstream effects of a recession will change the workers’ compensation market dramatically for years to...

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Is Insurance Office Going Away for Good? by Duke Williams

Posted: May 26, 2020

The coronavirus pandemic is already changing the way that American businesses operate, at least temporarily. But look closely, and you can see the potential for long-lasting changes even after life returns to normal.  One of these shifts might just mean the end of the traditional insurance offic...

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A consumer's guide to disinfecting after COVID-19

Posted: May 26, 2020

Many companies that lack the proper training and understanding of the disinfection process are offering services they are ill-equipped to provide.

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Four reasons why 'modern' agencies were better prepared for COVID-19

Posted: May 26, 2020

The so-called 'modern agency' is advancing past 'old school' operations in the COVID-19 era.

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Is COVID-19 a Black Swan Event? Let’s Do the Math

Posted: May 26, 2020

You may be tired of hearing about anything COVID-19 related. But despite many valiant efforts, an important question remains: Is COVID-19 a “black swan?” We must begin by defining a a “black swan” event. The concept was first coined by Nassim Taleb in his book The Black Swan. According to Taleb, a b...

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Protected: COVID-19 Risks Threaten the Resiliency of Private Companies

Posted: May 26, 2020

This content is password protected. To view it please enter your password below: Password: The post Protected: COVID-19 Risks Threaten the Resiliency of Private Companies appeared first on Risk & Insurance.

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Join the Coronavirus Survey for the Entire Property/Casualty Insurance Industry

Posted: May 26, 2020

Join the Coronavirus Survey for the Entire Property/Casualty Insurance Industry How is the coronavirus pandemic affecting you, your life, your work and your industry—now and going forward? No matter where you work in the P/C insurance industry, your experience is important. ...

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COVID-19 Wrap-up: Pandemic Complicates Hurricane Preparation

Posted: May 26, 2020

The National Oceanic and Atmospheric Administration (NOAA) has predicted an above-normal hurricane season in terms of the total number of storms. Its  2020 Atlantic Hurricane Season Outlook calls for 13-19 named storms, 6-10 hurricanes, and 3-6 major hurricanes. This year, the COVID-19 pandem...

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Animal products firm faces COVID-related shareholder suit

Posted: May 26, 2020

A shareholder has filed a putative class-action lawsuit against an animal products manufacturer and its directors and officers, charging them with issuing false and misleading information after it revised its earnings projections based on the COVID-19 pandemic.

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Law firm sues for income lost due to court closure

Posted: May 26, 2020

A Georgia bankruptcy law firm sued its insurer last week seeking business interruption coverage for income it allegedly lost after courtrooms in the state were closed due to the COVID-19 pandemic.

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