Special Coverage: COVID-19

Allianz's net profit falls by 29% in Q1

Posted: May 12, 2020

Yet again, COVID-19 is the culprit

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Allianz Posts 29% Drop in Q1 Net Profit as COVID-19 Crisis Slows Business

Posted: May 12, 2020

German insurer Allianz on Tuesday posted a 29% fall in net profit in the first quarter from a year earlier as the coronavirus outbreak slows business. The insurer had last month flagged the drop when it published preliminary figures, and …

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Lack of COVID testing hampers insurance claims

Posted: May 12, 2020

Carrier refuses payout without tests, despite statewide shut-down

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How to Be Productive Working at Home by Paul Laughlin

Posted: May 12, 2020

Although the speed of recent changes for us all has been breathtaking, learning how to be productive when working from home is not new. Given that so many leaders, perhaps including you, are suddenly facing the challenge of working from home as a new normal, it seems only fair to share what I’ve...

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How to Adapt to a VUCA+V World by Frederik Bisbjerg

Posted: May 12, 2020

The term VUCA (volatile, uncertain, complex, ambiguous) was coined by the U.S. military as a reaction to an increasingly complex situation, with many frontiers and unknowns around the world. For business, the pandemic crisis has taken the VUCA elements of the corporate environments to a whole ne...

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Top health and safety concerns for reopening businesses

Posted: May 12, 2020

As more and more businesses reopen, the risk of spreading the coronavirus remains.

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Loss prevention tips for cargo, transportation companies hurt by COVID-19

Posted: May 12, 2020

Allianz offers guidance for cargo and transportation companies in developing contingency plans in the COVID-19 pandemic.

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Infections Near U.S. Meat Plants Rise at Twice National Rate

Posted: May 12, 2020

The coronavirus spread at more than twice the national rate in U.S. counties with major meatpacking plants in the first week after President Donald Trump issued an executive orderdirecting that they be reopened. Confirmed Covid-19 cases jumped 40% during the …

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Meat Giant Sued for Worker’s Covid-19 Death in Philadelphia

Posted: May 12, 2020

The family of a beef plant worker who died because of the coronavirus has brought a wrongful death lawsuit in a Philadelphia court against JBS SA, the world’s biggest meat company. Ferdinand Benjamin filed the suit on Thursday after his …

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Iowa Insurance Division adopts final ‘Best Interest’ rule for annuity sales

Posted: May 11, 2020

The Iowa Insurance Division filed an adopted regulation to require annuity agents to act in the best interest of their customers on May 11. Iowa’s annuity standards follow efforts by the National Association of Insurance Commissioners (NAIC) to develop a model Suitability in Annuity Transactions Mod...

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Travelers, Adapting to a COVID-19 World, Will Hire Hundreds of Key Tech Experts

Posted: May 11, 2020

Travelers, Adapting to a COVID-19 World, Will Hire Hundreds of Key Tech Experts Travelers said it is hiring hundreds of people before the end of 2020, a large number of which will be in the technology space to help the insurer conduct business virtually. The Hartford-based ...

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Restaurant seeks fast-track ruling on COVID-19 insurance coverage

Posted: May 11, 2020

This is one of 'hundreds, if not thousands, of lawsuits' filed by businesses in Pennsylvania seeking to recover losses.

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Treasury signals concerns over COVID-19 coverage legislation

Posted: May 11, 2020

The U.S. Department of the Treasury on Friday said officials have concerns about proposals to compel insurers to pay business interruption losses arising from the COVID-19 pandemic.

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Protected: Helping Clients Navigate Covid-19 With A Consultative Approach and Clinical Solutions

Posted: May 11, 2020

This content is password protected. To view it please enter your password below: Password: The post Protected: Helping Clients Navigate Covid-19 With A Consultative Approach and Clinical Solutions appeared first on Risk & Insurance.

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Commercial Insurers Likely to Endure Major Losses Through Much of 2021: Fitch

Posted: May 11, 2020

Commercial Insurers Likely to Endure Major Losses Through Much of 2021: Fitch While insurance rates have risen for nine consecutive quarters due to large catastrophe losses and accelerating claims inflation, Fitch Ratings expects that technical profits won't be seen until the ...

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COVID-19 and a New Theory of Capitalism by Paul Carroll

Posted: May 11, 2020

In 1970, economist Milton Friedman published an idea that has driven capitalism for the last half-century: The only responsibility of a corporation is to generate profits for shareholders. That sole focus has produced distortions that have made many, including senior executives, increasingly unc...

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Iran-Linked Hackers Recently Targeted Coronavirus Drugmaker Gilead -Sources

Posted: May 11, 2020

LONDON/WASHINGTON — Hackers linked to Iran have targeted staff at U.S. drugmaker Gilead Sciences Inc in recent weeks, according to publicly-available web archives reviewed by Reuters and three cybersecurity researchers, as the company races to deploy a treatment for the …

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Auditor: Coronavirus, Oil Glut Could Cost Louisiana Local Governments $1B

Posted: May 11, 2020

The coronavirus battle and the world oil glut could cost cities, parishes and school boards in Louisiana anywhere from $404 million to $1.1 billion over two fiscal years, the state’s Legislative Auditor’s Office said on May 7. Business shutdowns and …

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EU Regulator Urges National Governments to Provide Insurance for Future Lockdowns

Posted: May 11, 2020

EU Regulator Urges National Governments to Provide Insurance for Future Lockdowns National governments must help provide insurance cover for future lockdowns, the industry's European Union regulator said on Monday, as the private sector cannot afford to provide such broad coverage ...

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U.S. Businesses, Patients Sue China Seeking Damages From Coronavirus Outbreak

Posted: May 11, 2020

Before the coronavirus outbreak, Saundra Andringa-Meuer was a healthy 61-year-old mother of six who never smoked or drank alcohol. Then she became seriously ill with the disease after traveling from her Wisconsin home to help her son move from college …

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