Special Coverage: COVID-19

Firms walk legal tightrope as earnings season kicks off

Posted: Apr 15, 2020

U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced.

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Dog Bite Prevention Coalition: Tips for Sheltering at Home with Pets

Posted: Apr 15, 2020

Most Americans are under stay-a-home orders at this stage of the coronavirus pandemic, and stress is running high for myriad reasons. The pandemic has affected pets too. “Dogs that are used to kids being at school and adults at work are now finding themselves surrounded by their families 24/...

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QBE Plans $825M Capital Raise to Help Weather COVID-19 Uncertainty

Posted: Apr 15, 2020

QBE Plans $825M Capital Raise to Help Weather COVID-19 Uncertainty QBE Insurance is planning to raise about $825 million in capital as a result of the economic and investment market uncertainty created by the coronavirus crisis. The company will raise approximately ...

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Stay-at-Home Pandemic Orders Reduce Auto Claims Almost by Half: Snapsheet

Posted: Apr 15, 2020

Stay-at-Home Pandemic Orders Reduce Auto Claims Almost by Half: Snapsheet Insurers are reporting a 40 to 50 percent drop in claims volume for personal auto and a 30 to 40 percent reduction for commercial auto due to the coronavirus pandemic, an executive for ...

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Hiscox fires back in UK virus businesses interruption spat

Posted: Apr 15, 2020

Hiscox Ltd. said in a statement Wednesday that its “core policy wordings” for U.K. businesses do not cover most business interruption claims related to the coronavirus pandemic.

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Hiscox fires back in UK virus business interruption spat

Posted: Apr 15, 2020

Hiscox Ltd. said in a statement Wednesday that its “core policy wordings” for U.K. businesses do not cover most business interruption claims related to the coronavirus pandemic.

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Arkansas expands COVID comp coverage

Posted: Apr 15, 2020

Arkansas Republican Gov. Asa Hutchinson signed an executive order Monday expanding workers compensation for occasional exposure to COVID-19 to first responders and health care workers.

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Regulator Warns Most Small UK Companies Lack Pandemic Insurance

Posted: Apr 15, 2020

Regulator Warns Most Small UK Companies Lack Pandemic Insurance Most insurance policies bought by smaller UK companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on ...

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Companies Walk Legal Tightrope as Earnings Season Kicks Off

Posted: Apr 15, 2020

WASHINGTON — U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced. Measures to contain the …

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Despite Insurance Industry Concerns, More States Introduce COVID-19 BI Bills

Posted: Apr 15, 2020

New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that hasn’t stopped some states from rolling …

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As Coronavirus Empties Streets, Speeders Hit the Gas

Posted: Apr 15, 2020

NEW YORK — Empty roads in the United States and Europe are tempting drivers to go out and shift into high gear. From Los Angeles to New York, London and Berlin, coronavirus lockdowns have drained traffic from normally crowded roads. …

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Fox News moves to dismiss coronavirus-related lawsuit

Posted: Apr 15, 2020

Fox News commentators’ statements on the coronavirus were “core political speech” protected by the First Amendment, Fox News said in a motion filed Tuesday seeking to dismiss a lawsuit filed by a Washington state group that charges the news organization with violating the state’s Consumer Protection...

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Insurance employment remains steady as economy faces uncertainty

Posted: Apr 15, 2020

Recent data shows positive employment trends in the insurance industry; however, the full effects of COVID-19 remain unknown.

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Coronavirus underscores opportunities for insurers in the gig economy

Posted: Apr 15, 2020

The industry needs to do a better job of working with this vulnerable segment of workers

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Legal Roundup: 3M Sues Over COVID-19 Price Gouging, College Students Demand Reimbursement and More

Posted: Apr 15, 2020

3M Sues Over N95 Mask Price Gouging  The Case: 3M sued a New Jersey company for attempting to resell N95 masks to New York City officials at a 500% markup. The lawsuit also alleges that the company, Performance Supply LLC, falsely claimed to be affiliated with 3M, according to CNBC. Advertisement...

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Fairfax estimates $1.4 billion first-quarter loss due to virus

Posted: Apr 15, 2020

Fairfax Financial Holdings Inc., which owns Crum & Forster, Allied World Assurance Co. Holdings Ltd. and several other insurers, expects to post a $1.4 billion loss for the first quarter of 2020 due to coronavirus-related investment losses.

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Analysts: Auto Insurance Coronavirus Rebates a Solid Move in the Short Term

Posted: Apr 15, 2020

Analysts: Auto Insurance Coronavirus Rebates a Solid Move in the Short Term Auto insurers have seen something new with the coronavirus pandemic: an historic reduction in driving due to millions of customers staying home and sheltering in place. That change led to carriers ...

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Swiss Re makes major commitment to support global COVID-19 relief efforts

Posted: Apr 15, 2020

The funds aim to assist developing nations in tackling the pandemic

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Most small UK companies not insured for pandemic: Watchdog

Posted: Apr 15, 2020

Most insurance policies bought by smaller United Kingdom companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on Wednesday, as insurers come under fire for being slow to act.

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CORONAVIRUS WRAP-UP: PROPERTY AND CASUALTY (4/15/2020)

Posted: Apr 15, 2020

Litigation Legal Experts Prepare for Battles Over Business Interruption Cover Travelers Sued Over Coronavirus Coverage Meal Delivery Services Sued Over Restaurant Prices Amid Pandemic Pandemic Relief Swiss Re Donates CHF 5 Million to Support COVID-19 Relief Efforts Axis Capital, Swiss Re Pledge D...

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