Special Coverage: COVID-19

Report: Regulators Sat on Complaint as Virus Outbreak Grew at Iowa Plant

Posted: May 19, 2020

State safety regulators declined to inspect an Iowa pork plant after receiving a complaint alleging workers were exposed to the coronavirus in crowded conditions — a decision that critics said allowed a burgeoning outbreak to grow unabated. An April 11 …

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Rating Bureau Chief Assesses Impact of COVID-19 on California Work Comp

Posted: May 19, 2020

Bill Mudge has been put in a unique position during the pandemic. He’s got a sizeable workforce he’s had to reconfigure and manage much differently, and he heads the bureau that regulators, employers and insurers in the largest state in …

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Insurer Beazley Raises $300M to Strengthen Balance Sheet on COVID-19 Uncertainties

Posted: May 19, 2020

Beazley, the Lloyd’s specialist insurer, announced it raised £247 million (approximately $300 million) in capital via an equity placement designed to strengthen its balance sheet as a result of the continuing uncertainty created by the COVID-19 crisis. During the first …

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Staying nimble is key for insurance agents post-COVID-19

Posted: May 19, 2020

The insurance landscape will shift as regions begin to open up and small businesses come back online.

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COVID-19 is Making the Business Case for Brokers to Embrace Change

Posted: May 19, 2020

The new simplified issue term product features API capabilities, an advisor portal for tracking application (or applicant) status and commissions, and Haven Life's "seamless digital buying experience."

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Nursing Home With Oregon’s Deadliest Virus Outbreak Sued

Posted: May 19, 2020

The daughter of a woman who died after contracting the coronavirus at a Portland long-term care facility filed a $1.8 million lawsuit Thursday claiming elder abuse. Angela Brown says her 75-year-old mother, Judith Jones, contracted coronavirus and died because of …

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Carrier Groups Ready Proposal for Federal Pandemic Loss Fund–Not PRIA

Posted: May 19, 2020

Carrier Groups Ready Proposal for Federal Pandemic Loss Fund–Not PRIA Property/casualty insurance industry carrier groups are working to develop a proposed federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but it won't be ...

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COVID-19: Tough path ahead for global reinsurers

Posted: May 19, 2020

Report changes sector outlook from stable to negative

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COVID-19: Rocky path ahead for global reinsurers

Posted: May 19, 2020

Report revises sector outlook from stable to negative

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Are Life Insurers Writing Less Business Because of COVID-19?

Posted: May 19, 2020

COVID-19 has changed many aspects of our lives, so it isn’t surprising to see life insurance markets affected. But some stories create false impressions that should be corrected. The story that some life insurers are writing fewer policies “because of COVID-19” has gained traction in both traditi...

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Carrier Groups Ready Proposal For Federal Pandemic Loss Fund–Not PRIA

Posted: May 19, 2020

Carrier Groups Ready Proposal For Federal Pandemic Loss Fund–Not PRIA Property/casualty insurance industry carrier groups are working to develop a proposed federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but it won't be ...

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P/C Insurers Back a Federal Pandemic Loss Fund But Not a Backstop Like TRIA

Posted: May 19, 2020

Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the Terrorism Risk Insurance Act as some have urged. …

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How Coronavirus Has Affected Auto Insurance Shopping

Posted: May 19, 2020

This year began with auto insurance buyers shopping around more than ever but by mid-March shopping began to slow down before returning to normal a few weeks later. According to the data firm LexisNexis, shopping has closely mirrored other pandemic …

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Requiring insurers to cover pandemic-related shutdowns would jeopardize industry’s solvency, experts say

Posted: May 19, 2020

Most insurance experts believe legislative proposals that would require insurers to cover business-interruption (BI) claims stemming from COVID-19 related shutdowns, even if the insurance policies exclude pandemic-related losses, threaten the solvency of the insurance industry. This is the findi...

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Remote working likely lasting legacy of coronavirus lockdown

Posted: May 19, 2020

Companies from Nationwide Mutual Insurance Co. to Twitter Inc. plan to allow some or all employees to continue working remotely even after COVID-19 restrictions are lifted and businesses reopen.

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Extended global recession top concern: World Economic Forum

Posted: May 19, 2020

The economic fallout from COVID-19 dominates business concerns, with two-thirds identifying a prolonged global recession as a top risk, according to an analysis released Tuesday from the World Economic Forum.

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Is the CPCU the Instruction Manual of Insurance? Here’s What Designees Say

Posted: May 19, 2020

Editor’s Note: Risk & Insurance is an affiliate of The Institutes, which offers the CPCU The COVID-19 pandemic has made it abundantly clear that risks are ever changing. In addition to assessing the risks of the pandemic, insurance professionals have to think about the ways in which it could affect...

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Pandemic brings struggles to Panasonic

Posted: May 19, 2020

Japan-based Panasonic Corp.'s net profit fell nearly 21% year-over-year to around 226 billion Japanese yen ($2.1 billion) in the financial year ended March 31, due to weak sales of home appliances and auto electronic parts as a result of the coronavirus pandemic.

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Subaru reports huge production loss due to pandemic

Posted: May 19, 2020

Japan-based Subaru Corp.'s suspension of operations at plants in the United States and Japan in April due to the coronavirus pandemic resulted in a production loss of 150,000 vehicles.

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Regulator mulls stimulus package for insurers

Posted: May 19, 2020

The U.A.E. Insurance Authority is considering launching a stimulus package to support the insurance sector amid the COVID-19 pandemic.

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