Special Coverage: COVID-19
Posted: May 22, 2020
An unnamed Fortune 50 company had to pay upwards of $100,000 after having to close its Atlanta offices after one of its workers faked a COVID-19 diagnosis.
Posted: May 22, 2020
A Paris commercial court has ruled that French insurer AXA will have to pay a restaurant owner two months’ worth of coronavirus-related revenue losses, the restaurant’s lawyer said on Friday, potentially opening the door to a wave of similar litigation. …
Posted: May 22, 2020
Of the 1,077 workers compensation COVID-19-related claims filed before April 30 in California, 35% were denied and of those 69.7% involved negative tests for the virus, according to a white paper released Thursday by the California Workers’ Compensation Institute.
Posted: May 22, 2020
COVID-19 litigation and legislation were much in the news this week. The naming of underwriting officers at Chubb and Liberty Mutual also drew interest.
Posted: May 22, 2020
The number of COVID-19 cases globally over the next four weeks may reach 50 million total cases, with 644,000 estimated deaths, according to estimates provided by Verisk’s catastrophe modeling unit, AIR Worldwide, on May 20. As of May 19, 2020, …
Posted: May 22, 2020
The Central Pacific basin including Hawaii should expect to see between two and six tropical storms or hurricanes this year, federal forecasters said this week. The annual National Weather Service prediction came as wary Hawaii residents begin to emerge from …
Posted: May 22, 2020
The Tokio Marine Group, PHLY’s parent company, will provide a 50% match and contribute an additional $500,000 donation bringing the total to $1.5 million. PHLY will also continue to match employee donations to charities.
Posted: May 22, 2020
Maryland property and casualty insurance consumers will receive more than $250 million in premium relief during the COVID-19 State of Emergency, according to a Maryland Insurance Administration (MIA) press release. As of May 14, property and casualty insurance companies have …
Posted: May 22, 2020
Everyone’s favorite hand sanitizer may have to stand trial for claiming it can stop you from getting sick. A trio of lawsuits has hit Purell’s maker, Gojo Industries Inc., since the World Health Organization declared the coronavirus outbreak a public …
Posted: May 22, 2020
Generali Sees Net Profit Plunge Due to COVID-19-Related Investment Losses Generali's first-quarter net profit plunged 84.8 percent to €113 million ($124 million) from €744 million ($815.5 million) reported in Q1 2019 as a result of the impact of the COVID-19 pandemic ...
Posted: May 22, 2020
U.K.-based insurer Aviva PLC expects £160 million ($195.5 million) in claims related to the COVID-19 pandemic and weaker second quarter sales.
Posted: May 22, 2020
A report by A.M. Best Co. Inc. expects the Indian nonlife insurance sector to face uncertainty and challenges due to COVID-19 pandemic-driven economic turbulence.
Posted: May 22, 2020
Month-to-month changes in the insurance industry's fiscal outlook will impact digital choices.
Posted: May 22, 2020
Austin, TX, May 22, 2020 — The National Alliance for Insurance Education & Research announced that it will conduct two in-person courses after it had temporarily suspended all in-person classroom sessions due to COVID-19. The decision was made in accordance …
Posted: May 22, 2020
My article on the longer-term business model implications of Covid-19 asked whether COVID-19 creates an opening for new, or updated, products and services that insurers should be offering to the market. This article is an attempt to answer that question, focusing on P&C/general insurance. Person...
Posted: May 22, 2020
Country's largest insurer says it expects operating profits to be "resilient" – but come in lower than 2019
Posted: May 22, 2020
As the pandemic began to sweep across the world, reports of people panic-buying life insurance appeared in the media. RGA reviewed the available data to determine if a COVID-19-inspired spike in sales is in fact taking place and to consider whether the current crisis could prove to be the tipping p...
Posted: May 22, 2020
A Pennsylvania Supreme Court Decision may help policyholders seeking claims coverage for COVID-19 losses.
Posted: May 22, 2020
Each of these industries is grappling with its own specific set of struggles but share many of the challenges.
Posted: May 22, 2020
With U.S. insurance companies facing criticism over their response to the coronavirus outbreak, three industry groups on Thursday proposed putting the Federal Emergency Management Agency (FEMA) in charge of a taxpayer-backed program to protect businesses from revenue losses during future …
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