Special Coverage: COVID-19
Posted: May 13, 2020
Years of profitable underwriting and healthy reserves in 2019 in the workers compensation sector will help the industry weather coronavirus-related claims and lower premium in the coming months, officials with the National Council for Compensation Insurance said Tuesday.
Posted: May 13, 2020
Vijay Bhupathiraju, retail analyst at U.K.-based data analytics firm GlobalData PLC, said that the COVID-19 pandemic has cost the Chinese retail industry 3 trillion Chinese yuan ($423 billion) in lost sales.
Posted: May 13, 2020
Hamdi Al-Tabba, head of the Arab Businessmen Union, said that Arab nations could lose nearly $323 billion due to the COVID-19 pandemic.
Posted: May 13, 2020
Eddie Efekoha, president of the Chartered Insurance Institute of Nigeria, expects the deadline for insurers to recapitalize to be extended further due to the COVID-19 pandemic.
Posted: May 13, 2020
COVID-19 ushered in an unprecedented era of workforce management. In the span of a few weeks, companies emptied offices, scrambled to introduce remote work plans, and devised ways to keep employees engaged and productive as they worked full days in pajamas. Advertisement Meanwhile, companies had...
Posted: May 13, 2020
As COVID-19 wreaks havoc on the U.S. economy, American businesses are closing their doors and laying off workers in record numbers. Many have now discovered they’re left with significant losses as most policies do not cover losses from mandated government closures due to a pandemic. Advertisement...
Posted: May 13, 2020
The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit insurance during the COVID-19 crisis. The scheme will be delivered through a reinsurance agreement with trade credit insurers currently operating …
Posted: May 13, 2020
The coronavirus crisis has halted regular development cycles and thrown potential entrepreneurs out of their comfort zone.
Posted: May 13, 2020
As businesses around the country prepare to reopen, there is a concerted effort made to prioritize the safety of the workforce. Employers are also preparing to face more leaves of absence than ever as they account for employee childcare needs, at-risk groups with pre-existing conditions and possibl...
Posted: May 13, 2020
With so many lawsuits arising out of coverage denials for coronavirus-caused losses, how terms are defined will matter.
Posted: May 13, 2020
Cities and counties across the country may have handed plaintiff’s attorneys an argument to use in lawsuits against insurers that seek business-interruption coverage for losses caused by coronavirus closure orders. Jurisdictions as far asunder as Los Angeles, Calif. and Key …
Posted: May 12, 2020
U.S. House Minority Whip Steve Scalise (R-Louisiana) answered questions from Bob Rusbuldt, Big “I” president & CEO, on a variety of subjects including how America can quickly recover from the coronavirus pandemic, reauthorizing the NFIP and the 2020 presidential election.
Posted: May 12, 2020
As insurers evaluate the costs associated with business interruption claims, the insured’s documentation will play a vital role.
Posted: May 12, 2020
During the COVID-19 pandemic, P&C agents and brokers can find alternative sources of income in the life insurance market.
Posted: May 12, 2020
The proposed legislation would require insurers to pay claims that standard property policies do not typically cover.
Posted: May 12, 2020
Commercial Insurance Rates Climb 14 Percent in Q1: Marsh Global average commercial insurance prices increased 14% in the first quarter of 2020 – but the rate hikes were not due to the COVID-19 pandemic, according to insurance broker Marsh in its ...
Posted: May 12, 2020
This is the latest in a series of innovations unveiled by AIG Life during the COVID-19 pandemic to help customers buy life insurance safely and manage their wellbeing
Posted: May 12, 2020
An executive order by California Gov. Gavin Newsom last week is the most aggressive yet among the directives issued by 13 states that require workers’ compensation insurers to pay at least some COVID-19 claims. Pressure is growing on workers’ compensation …
Posted: May 12, 2020
San Francisco-based children’s clothing boutique Mudpie Inc. has filed a class action lawsuit on behalf of California-based retail stores against an insurance provider, saying the small businesses were wrongfully denied coverage for losses resulting from government-mandated public health shutdowns r...
Posted: May 12, 2020
The range of businesses taking insurers to court for coronavirus-related losses continued to expand last week with a New Orleans-based hotel group and a day care center in New York suing their insurers.
Statistics
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