Special Coverage: COVID-19
Posted: Apr 17, 2020
Massachusetts Attorney General Maura Healey’s office has called on the Massachusetts Division of Insurance (DOI) to direct all auto insurance companies doing business in the state to lower premiums during the COVID-19 pandemic. In a letter sent Monday to Massachusetts …
Posted: Apr 17, 2020
Estimated reach of 2.1 million Commercial members (age 18 and up) and 108,000 Medicare members.
Posted: Apr 17, 2020
According to Nielsen, their backers are no longer in a position to provide them with the funding they need and with the Coronavirus outbreak so fresh they were forced to end their journey.
Posted: Apr 17, 2020
Auto InsuranceStay-at-home Pandemic Orders Reduce Auto Claims Almost by HalfAs Coronavirus Empties Streets, Speeders Hit the GasBusiness InterruptionUK Watchdog Orders Insurers to Pay Small Business Claims QuicklyCannabis Insurance Pandemic Could Shrink Cannabis Insurers’ Premiums, Market Cyber Ins...
Posted: Apr 17, 2020
Some 250 years ago, Benjamin Franklin warned us that, “In this world, nothing is certain except death, taxes, and the seasonal flu.” Or, at least, that’s what I think he said. We can’t verify the quote. None of his contemporaries are alive today. They paid their taxes and then died. Scientists know...
Posted: Apr 17, 2020
Some global regulators are advising insurers to suspend dividend payments in response to the COVID-19 pandemic. If insurers do, they won’t have to worry about their credit quality, S&P Global Ratings said in a recent report. “Insurers’ decision to curb …
Posted: Apr 17, 2020
According to Nielsen, their backers are no longer in a position to provide them with the funding they need and with the Coronavirus outbreak so fresh they were forced to end their journey.
Posted: Apr 17, 2020
Auto insurance refunds U.S. auto insurers will return more than $10 billion to their customers nationwide, according to an estimate released on April 11 by the Insurance Information Institute (Triple-I). We’ve listed many of the companies that are offering refunds in a previous post. This wee...
Posted: Apr 17, 2020
Policyholders are considering filing a class action lawsuit against insurer Hiscox Ltd. in the United Kingdom for rejecting their business interruption claims due to the coronavirus pandemic.
Posted: Apr 17, 2020
Malaysia-based RAM Rating Services Berhad expects the local insurance sector to remain resilient this year despite the considerable economic impact of the Covid-19 pandemic.
Posted: Apr 17, 2020
As the COVID-19 crisis swept through the world, companies began frantically looking for information.Naturally, they turned to their insurance brokers with questions. Am I covered for income loss? How is COVID-19 impacting my particular industry? When will it be safe to open offices again? Compan...
Posted: Apr 17, 2020
Insurers Suspending Dividends Shouldn’t Worry About Their Credit Quality: S&P Some global regulators are advising insurers to suspend dividend payments in response to the COVID-19 pandemic. If insurers do, they won't have to worry about their credit quality, S&P Global ...
Posted: Apr 17, 2020
At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended consequences. Fitch Ratings cautions that the move could pose risks to the …
Posted: Apr 17, 2020
Amazon has no clarity yet on when its warehouses in France might reopen, the head of its French business said on Thursday, after the e-commerce giant clashed with unions over the measures taken to limit the risks of coronavirus contagion. …
Posted: Apr 17, 2020
Allianz SE Chief Executive Officer Oliver Baete warned the coronavirus has upended insurers’ business models and will cause “massive” losses across the industry. The virus has forced closures across the entire economy and not just in a limited number of …
Posted: Apr 17, 2020
The insurance industry is in the midst of a crisis as bad as the Great Recession and possibly worse than the Great Depression. The crisis worsens each day because of the COVID-19 pandemic. We do not know when the worst will end. We cannot predict when the pandemic itself will end. B...
Posted: Apr 17, 2020
Potential business disruptions are part of a company’s regular continuity plan. Still, few were prepared for the impact of a global pandemic that has shut down businesses around the world. Many companies have faced challenging decisions like laying off or furloughing employees for an extended perio...
Posted: Apr 17, 2020
Non-public companies should review their D&O policies when evaluating coverage that may respond to COVID-19-related losses.
Posted: Apr 17, 2020
A senior FBI cybersecurity official said on Thursday that foreign government hackers have broken into institutions conducting research into treatments for COVID-19, the sometimes fatal respiratory illness caused by the new coronavirus. Federal Bureau of Investigation Deputy Assistant Director Tonya...
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