Special Coverage: COVID-19

Buffett's Berkshire posts record Q1 loss amid pandemic

Posted: May 04, 2020

Warren Buffett's Berkshire Hathaway Inc. is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses.

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Delaware Auto Insurers Issue Rebates, Reduce Rates During Coronavirus Pandemic

Posted: May 04, 2020

The Delaware Department of Insurance has announced that many consumer-friendly automobile insurer actions are being implemented due to reduced vehicle use throughout the COVID-19 pandemic. As filed with the department, these actions represent millions of dollars being returned to or …

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Maryland Insurance Administration Warns Against COVID-19 Insurance Scams

Posted: May 04, 2020

Maryland Insurance Commissioner Al Redmer Jr. has warned consumers to watch for insurance scams related to the COVID-19 pandemic. Reports of pandemic-related fraud are increasing around the country, according to a press release issued by the Maryland Insurance Administration. People …

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Senators Seek to Address Privacy Concerns Over Tech Firms’ Covid-19 Contact Tracing

Posted: May 04, 2020

A group of Republican U.S. senators said Thursday they would introduce legislation to address consumer privacy concerns surrounding technology companies’ efforts to help build contact tracing apps to fight the new coronavirus outbreak. Senator Roger Wicker, who chairs the Commerce …

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At The Right Price, Berkshire Will Write Pandemic Cover, Buffett Says

Posted: May 04, 2020

At The Right Price, Berkshire Will Write Pandemic Cover, Buffett Says The chairman of Berkshire Hathaway said that while his insurance units aren't heavily exposed to underwriting losses from the COVID-19 pandemic, they would be willing to insure pandemics in the ...

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UK broker seeks funds for COVID-19 business interruption claims

Posted: May 04, 2020

U.K.-based leisure and hospitality insurance broker NDML Ltd. has asked the government to release funds from local terrorism risk reinsurer Pool Reinsurance Co. Ltd. to help pay business interruption claims related to the coronavirus pandemic.

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Property insurance market falls 20% due to pandemic

Posted: May 04, 2020

Nicolaus Prawiro, deputy director at insurer PT Asuransi Cakrawala Proteksi Indonesia, said that country's property insurance market fell nearly 20% year-over-year in the first quarter due to the coronavirus pandemic.

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Lemonade Encourages Customers to Fuel ‘Social Good’ by Taking COVID-19 Research Surveys

Posted: May 04, 2020

Lemonade Encourages Customers to Fuel ‘Social Good’ by Taking COVID-19 Research Surveys Lemonade is encouraging its members to take online surveys – lots of them – in order to positively impact the COVID-19 crisis. The InsurTech focused on digital homeowners and renters insurance ...

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Worst-Case P/C Coronavirus Losses in Key Lines Could Hit $80B: Willis Towers Watson

Posted: May 04, 2020

Worst-Case P/C Coronavirus Losses in Key Lines Could Hit $80B: Willis Towers Watson Key property/casualty insurance lines could face COVID-19 insured losses reaching a combined $80 billion in a worst-case scenario modeled by Willis Towers Watson as part of a new report. U.S. and ...

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How AI Can Help Pharma Risk Managers Beat Their Regulatory Nightmares and Get the Rest They Need

Posted: May 04, 2020

Artificial intelligence is revolutionizing the pharmaceutical industry by empowering companies to dramatically accelerate the development of new drugs while cutting costs by hundreds of millions of dollars. Advertisement But the growing use of the technology in the industry is also fast creating...

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Gallagher Releases Pandemic Group Insurance Product for India’s Front-Line Workforce

Posted: May 04, 2020

International insurance broker Gallagher announced the release of a Pandemic Group Insurance product, providing a comprehensive COVID-19 indemnity cover solution to the India market. For essential workers and front-line services including hospital and healthcare providers, food distribution, and pha...

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COVID-19 general insurance losses could be up to $80 billion – Willis Towers

Posted: May 04, 2020

With the impact of the pandemic still uncertain, new report presents three possible scenarios

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The Dig In Podcast 004: Insurance digital strategy for now and then

Posted: May 04, 2020

Forrester analyst Ellen Carney joins the show to discuss how insurance companies are likely to spend their digital and technology budgets in the wake of COVID-19, in order to adapt to the current situation and beyond.

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MedRisk Adds COVID-19 Screening Component to PTConsult

Posted: May 04, 2020

King of Prussia, PA, April 28, 2020 – Although physical therapy clinics are considered essential businesses, some workers’ compensation patients hesitate to start or continue physical therapy during the COVID-19 pandemic. To address patient and claims representative concerns regarding in-clinic …

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Near $50 billion loss but Buffett believes insurance business won't be as hard hit as others

Posted: May 04, 2020

Why Warren Buffett thinks Berkshire Hathaway may have dodged the worst of the coronavirus hit

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Midwest Insurers AmeriTrust, Grange Unveil COVID-19 Relief for Businesses

Posted: May 04, 2020

Grange Insurance Co., based in Columbus, Ohio, and AmeriTrust Group Inc. in Southfield, Michigan, are offering relief plans to business insurance customers in response to the COVID-19 pandemic. Grange Insurance has launched Businessowner Policy (BOP) payback, which will return 20% …

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Managing risk as businesses reopen after COVID-19

Posted: May 04, 2020

Should the assumption of risk and liability be a concern for reopening businesses?

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Republicans Rally Around Call for Legal Immunity for Businesses When They Reopen

Posted: May 04, 2020

The top Republicans in the U.S. Congress displayed a united front on Friday in their drive for coronavirus-related liability protections for businesses, saying such measures will be crucial to talks about future relief legislation. Senate majority leader Mitch McConnell and …

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