Special Coverage: COVID-19
Posted: May 01, 2020
To cut pay or not to cut pay? That’s been a key question facing brokers amid the global COVID-19 pandemic. Aon said it was imposing an approximately 20% salary cut on about 70% of its staff, while Marsh and Willis Towers Watson said they intended to avoid pay cuts.
Posted: May 01, 2020
Britain's financial watchdog said it would urgently ask the courts to clarify uncertainty over whether businesses can claim compensation for disruption caused by the coronavirus pandemic.
Posted: May 01, 2020
Pinnacol Assurance donated nearly $2 million to an array of funds that support businesses and workers in Colorado impacted by the COVID-19 pandemic. Through its philanthropic giving program, Pinnacol donated the following amounts to the following funds: $1 million to …
Posted: May 01, 2020
Lack of Clarity on Infection, Fatality Rates Hinders Ability to Assess COVID-19 Impact: KCC With social distancing and strict lockdowns around the world showing some success in "flattening the curve" of the coronavirus pandemic, leaders are starting to make tough decisions regarding when ...
Posted: May 01, 2020
Willis Towers Watson is withdrawing its 2020 guidance due to the uncertainties caused by the COVID-19 pandemic. The broker said it will re-assess the guidance once it has a clearer understanding of the depth, duration, and geographic reach of the …
Posted: May 01, 2020
Berkshire Hathaway Inc.’s annual meeting will be nothing like the extravaganzas of years past, but will give Warren Buffett a chance to show how resilient his cash-rich conglomerate may be to the coronavirus pandemic, and the investment opportunities it offers. …
Posted: May 01, 2020
Insurance broker Willis Towers Watson on Friday estimated property/casualty insurance losses between $32 billion and $80 billion across key classes in the United States and United Kingdom from the novel coronavirus, surpassing claims from the 9/11 attacks.
Posted: May 01, 2020
In a case where no insurance company or insurance claim was involved, the Pennsylvania Supreme Court issued a ruling that could potentially negate one of the insurance industry’s standard bases for denial of coverage of business income claims—i.e. that COVID-19 …
Posted: May 01, 2020
Tornadoes in 2020 claimed 73 lives as of April 24, according to this article citing NOAA’s Storm Prediction Center. The tornadoes have all occurred in eight southern states, with Tennessee and Mississippi having the most. This is the deadliest year for tornadoes in the U.S. since 2011. Fo...
Posted: May 01, 2020
Insurance broker Willis Towers Watson on Friday estimated general insurance losses between $32 billion and $80 billion across key classes in the United States and UK from the novel coronavirus, surpassing claims from the 9/11 attacks. A report by the …
Posted: May 01, 2020
Swiss Re Ltd. reported a net loss of $225 million in the first quarter, compared with a profit of $429 million in the previous year, due to the COVID-19 pandemic.
Posted: May 01, 2020
LoJack de Mexico S. de RL de CV, which recovers stolen vehicles, said that robbery of transport trucks has increased 25% in the country during the COVID-19 lockdown.
Posted: May 01, 2020
French reinsurer Scor SA said that its property/casualty underwriting business has not been materially exposed to the COVID-19 pandemic, but it is monitoring developments around business interruption.
Posted: May 01, 2020
China's three largest airlines have warned of deep financial impact from the COVID-19 pandemic, as each reported significant first-quarter losses.
Posted: May 01, 2020
“Agile” had become a bit of a buzzword in the business world. Every company wants to work with partners that are quick and responsive, and for good reason. We live in a deeply interconnected, fast-paced world. The current COVID-19 crisis underscores just how quickly the global risk environment can...
Posted: May 01, 2020
First quarter results still report higher net earnings
Posted: May 01, 2020
Banks are dusting off their no-deal Brexit plans as concerns deepen that Britain and the European Union won’t agree a trade deal by December as the COVID-19 pandemic compounds fundamental disagreements over future relations. Financial services exports to the EU …
Posted: May 01, 2020
Allianz SE withdrew its forecast for the year as Europe’s biggest insurer struggles with the fallout from the Covid-19 pandemic. Given the economic uncertainty, the board “does not assume that Allianz can achieve the target range for operating profit for …
Posted: May 01, 2020
Mississippi Gov. Tate Reeves said Wednesday that he will ask state lawmakers to provide legal protection for businesses that might be sued if they reopen and customers or employees become ill with COVID-19. “I am supportive of Mississippi providing liability …
Posted: May 01, 2020
Mississippi Gov. Tate Reeves said Wednesday that he will ask state lawmakers to provide legal protection for businesses that might be sued if they reopen and customers or employees become ill with COVID-19. “I am supportive of Mississippi providing liability …
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