Special Coverage: COVID-19
Posted: Mar 30, 2020
The property/casualty industry estimates that business interruption losses from the coronavirus just for small businesses in the U.S. could be between $220-$383 billion per month — or a quarter to half of the total industry surplus available to pay all …
Posted: Mar 30, 2020
LONDON — Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal …
Posted: Mar 30, 2020
The battle over business-interruption losses is heating up. Legislators in at least three states — New Jersey, Ohio and Massachusetts — have proposed bills to require that insurers pay out for certain claims related to Covid-19. The American Property Casualty …
Posted: Mar 30, 2020
North American property/casualty insurers reported improved 2019 operating performance, but near-term performance will likely be more challenging with the onset of coronavirus and the resulting economic impact, according to a report from Fitch Ratings. Fitch’s rating outlook for the U.S. …
Posted: Mar 30, 2020
Lloyd’s Underwriters Say Hello to Working at Home Thousands of London's underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won't need them. Working at home due to the coronavirus ...
Posted: Mar 30, 2020
Two Democratic state representatives in Ohio have filed a bill in the General Assembly that would require insurers that provide business interruption insurance to cover losses that arise from viruses and pandemics, regardless of whether their policies contain exclusions for …
Posted: Mar 30, 2020
With more than two-thirds of the U.S. population ordered to stay home amid the coronavirus pandemic, it’s tougher for burglars to find an empty house to target. But the cooped-up residents seem more likely to fight each other. That’s what …
Posted: Mar 30, 2020
Australian insurer QBE Insurance Ltd. on Monday withdrew its 2020 financial targets due to COVID-19 uncertainty.
Posted: Mar 30, 2020
Risk managers must undertake a fine balancing act in dealing with the coronavirus when it comes to the Americans with Disabilities Act, but are being aided by some leniency on the part of the U.S. Equal Employment Opportunity Commission, say experts.
Posted: Mar 30, 2020
Connecticut Insurance Department Commissioner Andrew N. Mais has called on insurers to immediately institute an extension of coverage for personal delivery drivers in light of the disruption caused by the COVID-19 pandemic. “The emergency social distancing and closing of restaurants …
Posted: Mar 30, 2020
Shock move would retrospectively force carriers to pay for coronavirus claims
Posted: Mar 30, 2020
Stay Informed The staff at Insurance Journal is covering many aspects of the disease as it impacts the industry and will continue to alert you to the latest reports available. The following is an updated list of articles and resources …
Posted: Mar 30, 2020
The spread of the coronavirus and COVID-19 – and how governments, businesses, and individuals are dealing with it – raises many issues relevant to property/casualty insurers and their customers. Triple-I has launched a webpage to help readers find what they need from the information we gathe...
Posted: Mar 30, 2020
As COVID-19 rages on, businesses are seeing all sorts of closures. Twenty-eight states currently have statewide or partial shelter-in-place orders and 23 states have closed all non-essential businesses. These closures are drawing attention as to which businesses are considered essential, with many f...
Posted: Mar 30, 2020
Analysts at U.K.-based investment banking firm Barclays PLC expect the lockdown in India due to the coronavirus outbreak to cost $120 billion.
Posted: Mar 30, 2020
Don Nakornthab, director of economic policy at Thailand's central bank, said that the coronavirus outbreak is expected to cost the tourism industry 250 billion Thai baht ($7.6 billion) in lost revenue this year.
Posted: Mar 30, 2020
APCIA’s Sampson Doubles Down on Voluntary Industry Action to Combat COVID-19 Losses The head of one of the U.S. property/casualty insurance industry's largest trade associations is doubling down on his opposition of attempts by federal and state governments to make business ...
Posted: Mar 30, 2020
Oklahoma Tribes Sue Over Coronavirus Casino Closures The Case: The Chickasaw and Choctaw nations in Oklahoma have separately sued their insurance companies over business interruption coverage during the coronavirus pandemic. The Native American tribes have closed casinos and other businesses in an...
Posted: Mar 30, 2020
A common target of insurtechs, small businesses are likely to demand changes from their insurance providers in the post-covid-19 world.
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