Special Coverage: COVID-19

CORONAVIRUS WRAP-UP: PROPERTY AND CASUALTY (4/21/2020)

Posted: Apr 21, 2020

Automobile InsuranceActing on ‘Thin’ Data, Auto Insurers Retain Flexibility With Premium CreditsSpeeders Take Over Empty Roads — With Fatal ConsequencesBusiness Interruption Triple-I Economists: Enforced COVID-19 Business Interruption Payouts Would Damage Industry Fight Over Pandemic Insurance Int...

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New York Nurses Sue State and Two Hospitals Over ‘Inadequate’ Virus Protection

Posted: Apr 21, 2020

The New York State Nurses Association sued the state and two hospitals on Monday to force them to provide equipment and adopt safety measures to prevent the spread of COVID-19 among the association’s members in the hard-hit state. The association …

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Ferrari rolls out coronavirus testing to get staff ready for work

Posted: Apr 21, 2020

Workers at Ferrari are signing up en masse for voluntary coronavirus screening so they can return to work as soon as possible in an ambitious scheme that could serve as a blueprint for manufacturers desperate to resume production.

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Cruise ship virus losses may hit marine liability insurers

Posted: Apr 21, 2020

While it’s hard to predict how COVID-19 will affect marine protection and indemnity mutual insurers, shipowners, including cruise lines that have been hit hard by the pandemic, may incur liability claims and extra expenses that could trigger P&I coverage, experts say.

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Top exec with coronavirus a reportable event? It all depends

Posted: Apr 21, 2020

Determining when or if companies must inform investors that their top executives have contracted coronavirus calls for a delicate balancing act between complying with regulatory requirements and respecting employees’ privacy rights, observers say.

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Travelers posts lower profit as catastrophe claims jump

Posted: Apr 21, 2020

Travelers Cos. Inc. on Tuesday reported a 25% fall in quarterly profit, hurt by higher catastrophe losses, as insurers braced for a slew of claims due to disruptions caused by the coronavirus pandemic.

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Some InsurTechs Pursue Growth Plans Despite Pandemic Onslaught

Posted: Apr 21, 2020

Some InsurTechs Pursue Growth Plans Despite Pandemic Onslaught InsurTechs, like all companies these days, aren't immune to business challenges created by the coronavirus pandemic, which has left many businesses shut down or struggling to function in the face of ...

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Boeing's Japanese component suppliers halt production

Posted: Apr 21, 2020

Japanese aerospace components manufacturers Kawasaki Heavy Industries Ltd. and Subaru Corp. have suspended production of aircraft components for U.S.-based Boeing Co. for about two weeks due to the coronavirus pandemic.

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China faces trillions of dollars of lawsuits over handling of outbreak

Posted: Apr 21, 2020

The Chinese government is facing multiple lawsuits amounting to trillions of U.S. dollars over the way it has handled the coronavirus pandemic.

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Sava Re expects 20% drop in profit due to pandemic

Posted: Apr 21, 2020

Slovenia-based insurer and reinsurer Pozavarovalnica Sava dd expects coronavirus pandemic to reduce its net profit by around 15%-20% this year.

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Thai Re expects to report 10% premium growth despite pandemic

Posted: Apr 21, 2020

Oran Vongsuraphichet, chief executive of Thai Reinsurance PCL, said that the reinsurer expects to grow its premiums 10% growth this year despite the coronavirus pandemic.

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Ferrari Provides Coronavirus Tests so Employees Can Return to Work

Posted: Apr 21, 2020

Workers at Ferrari are signing up en masse for voluntary coronavirus screening so they can return to work as soon as possible in an ambitious scheme that could serve as a blueprint for manufacturers desperate to resume production. Under its …

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Danish Insurer Tryg Expects Wave of Travel Claims as Customers Cancel Holidays

Posted: Apr 21, 2020

Danish insurer Tryg expects to be hit by a wave of travel insurance claims as customers cancel their summer holidays due to travel restrictions imposed to tackle the coronavirus pandemic, it said on Tuesday. Denmark’s biggest insurance company said it …

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The Dig In Podcast 002: How insurtech unicorn Hippo is responding to virus crisis

Posted: Apr 21, 2020

Rick McCathron, chief insurance officer of the digital home insurance carrier Hippo, talks rapidly ramping up work-at-home and virtualizing home inspections as the coronavirus fallout spread.

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4 Tyson Foods Poultry Workers in Georgia Die of Coronavirus

Posted: Apr 21, 2020

Four employees of a major poultry producer’s operations in rural southwest Georgia have died after becoming infected with the coronavirus, a company spokesman said Friday. Tyson Foods spokesman Gary Mickelson said three of the employees worked at the company’s chicken …

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South Carolina: Hurricane Response Plan a ‘Good Question’ Amid Virus Outbreak

Posted: Apr 21, 2020

With hurricane season less than two months away, officials in South Carolina said they don’t yet have a good plan in place if a storm hits during the coronavirus outbreak, particularly for people potentially displaced from their homes in the …

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FM Global gets "AA" financial rating from Fitch's coronavirus stress test

Posted: Apr 21, 2020

It also gets a "stable" outlook from the ratings firm

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Pandemic Risk Insurance Act and the future of business interruption insurance

Posted: Apr 21, 2020

What is PRIA, and how may it help mitigate the damages caused by the coronavirus pandemic?

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Pulse of Insurance Shopping During Crisis by Jaimie Pickles

Posted: Apr 21, 2020

As insurance carriers and agencies continue to adjust to new ways of working due to COVID-19, we are working with them to better understand the challenges and opportunities they are facing, including how: consumer behavior is trending; advertising is changing; carrier and agent personnel are dis...

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States Easing Path to Workers’ Compensation Benefits for Coronavirus Workers

Posted: Apr 21, 2020

Sympathetic state lawmakers and regulators in states both red and blue promise to make COVID-19 a major cost driver for workers’ compensation insurers. The governors of Kentucky, Arkansas, North Dakota and Florida and state regulators in Illinois, Washington, Michigan and …

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