Special Coverage: COVID-19

Webinar: Building resilient businesses and communities in the time of COVID-19

Posted: May 14, 2020

On May 14 the Insurance Information Institute (Triple-I), co-hosted a webinar with ResilientH20 Partners that focused on managing extreme weather events in the midst of the COVID-19 pandemic. The panelists discussed the changing role of stakeholders across the private sector, governments and non...

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Lloyd’s COVID-19 Claims Payouts to Rival 9/11 Terror Attacks

Posted: May 14, 2020

Lloyd’s COVID-19 Claims Payouts to Rival 9/11 Terror Attacks Lloyd's of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result of the COVID-19 pandemic. This payout is on a par with the Sept. 11 terrorist attacks, which cost ...

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AGs seek enforceable measures for meatpacking industry

Posted: May 14, 2020

A coalition of 20 attorneys general sent a letter to President Donald Trump on Tuesday asking the president to issue enforceable measures to protect the safety and health of meatpacking and poultry processing workers from COVID-19.

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Marsh: Global commercial insurance prices up 14% in Q1 2020

Posted: May 14, 2020

Rates increased for the tenth consecutive quarter despite the minimal impact of the COVID-19 pandemic.

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World’s insurers face $203 billion in losses from the coronavirus

Posted: May 14, 2020

Lloyd’s of London estimates the industry will suffer around $203B in losses from the pandemic this year.

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Oklahoma Senate OKs Bill Limiting Coronavirus Liability for Businesses

Posted: May 14, 2020

The Oklahoma Senate has approved legislation giving liability relief to essential businesses and those working to safely reopen, as well as a measure protecting manufacturers and people who make or donate materials related to the COVID-19 pandemic. A previously passed …

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Zurich Insurance Estimates Coronavirus Pandemic Claims to Hit $750 Million for 2020

Posted: May 14, 2020

Zurich Insurance estimates that the overall property and casualty (P&C) claims from the COVID-19 pandemic will be in the region of $750 million for 2020. To put that into context, Zurich’s CFO George Quinn said the expected COVID-19 claim level …

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Missouri Family Files Workers’ Comp Claim in Nurse’s Death from Virus

Posted: May 14, 2020

Attorneys for the family of a Missouri nurse who died from COVID-19 filed a claim for death benefits under the state’s workers’ compensation laws. Celia Yap-Banago, 69, died April 21 after caring for a patient with COVID-19 at Research Medical …

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Kansas GOP Lawmakers Want to Limit Coronavirus Lawsuits

Posted: May 14, 2020

Republican legislators in Kansas are joining a broader effort to shield doctors, hospitals and businesses from lawsuits stemming from the coronavirus, with business and medical groups pushing them to act quickly. The effort faces strong opposition from labor unions, trial …

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World’s Insurers Face $203 Billion Losses From Coronavirus

Posted: May 14, 2020

Lloyd’s of London, the world’s largest insurance exchange, estimates the industry will suffer around $203 billion in losses from the coronavirus pandemic this year. The projected losses include about $107 billion from underwriting claims, with the rest from insurers’ investment …

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Legislation to Limit Car Accident Claims Advances in Louisiana

Posted: May 14, 2020

Louisiana’s Republican lawmakers have advanced proposals to limit damage claims against businesses in car wreck lawsuits, pushing ahead with the pre-coronavirus priority as Democrats argued the debate was inappropriate amid a pandemic. House and Senate committees approved “tort reform” measures …

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California Prepares for More Wildfires as Coronavirus Challenges Budget

Posted: May 14, 2020

SACRAMENTO, Calif. — California has had 60% more wildfires so far in 2020 than last year because of drier weather, Governor Gavin Newsom said on Wednesday, and he promised increased funding for firefighting even as the state’s budget faces a …

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LabCorp to Make COVID-19 Testing Services Available at Workplaces

Posted: May 14, 2020

May 14 — Diagnostic services provider LabCorp said on Thursday it would make its COVID-19 tests available at workplaces, as employers across the United States look to bring people back to work safely. The company said it would provide customized …

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GOP Lawmakers Look to Limit Car Accident Claims in Louisiana

Posted: May 14, 2020

BATON ROUGE, La. — Louisiana’s Republican lawmakers Tuesday advanced proposals to limit damage claims against businesses in car wreck lawsuits, pushing ahead with the pre-coronavirus priority as Democrats argued the debate was inappropriate amid a pandemic. House and Senate committees …

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Firms, CEO charged over misleading COVID claims

Posted: May 14, 2020

The U.S. Securities and Exchange Commission said on Thursday it has charged two companies and a chief executive officer with making misleading claims related to COVID-19, the disease caused by the novel coronavirus.

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Lloyd's expects COVID-19 claims to match 9/11

Posted: May 14, 2020

Lloyd's of London is likely to pay out $3.0 billion to $4.3 billion in insurance claims related to the coronavirus pandemic, similar to losses from the 9/11 attacks, it said on Thursday.

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Pandemic relief measures in insurance to start: UK watchdog

Posted: May 14, 2020

Measures to help customers struggling to pay premiums on insurance policies during the coronavirus crisis will come into effect on Monday, Britain's Financial Conduct Authority said on Thursday.

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SEC Accuses Two Companies of Making Misleading COVID-19 Claims

Posted: May 14, 2020

The Securities and Exchange Commission has charged two companies it says claimed to offer products to combat the COVID-19 virus. One complaint is against against Applied BioSciences Corp. and the other is against Turbo Global Partners, Inc. and its chief …

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New Jersey Insurance Companies Directed to Provide Premium Reductions

Posted: May 14, 2020

The New Jersey Department of Banking and Insurance has directed insurance companies in the state to provide premium reductions to consumers and businesses during the COVID-19 emergency, citing reduced risk of loss due to the pandemic. The department issued a …

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