Special Coverage: COVID-19

California orders insurers to provide COVID-19 data

Posted: Mar 27, 2020

Insurers doing business in California have until April 9 to submit data regarding business interruption coverage provided under their existing commercial insurance policies related to COVID-19 under an order issued Thursday by Insurance Commissioner Ricardo Lara.

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Insurers Expect Coronavirus Claims Will Strike ‘Event Driven’ D&O Line

Posted: Mar 27, 2020

Insurers Expect Coronavirus Claims Will Strike ‘Event Driven’ D&O Line What may be the first U.S. securities lawsuits alleging misdeeds related to coronavirus were filed this month — one against a cruise line and another against a pharmaceutical company that claimed ...

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Lloyd’s Confronts COVID-19 Claims in 14 Insurance Categories

Posted: Mar 27, 2020

Lloyd’s Confronts COVID-19 Claims in 14 Insurance Categories Lloyd's insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market's 2019 results. Neal said ...

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Restaurateur Sues The Hartford, Seeking Coverage for Coronavirus Business Interruption

Posted: Mar 27, 2020

A well-known California restaurateur has filed a lawsuit against a unit of The Hartford, seeking a declaration that the owner’s commercial insurance policy covers losses caused by a statewide business shutdown ordered to prevent the spread of coronavirus. The lawsuit, …

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North Carolina, Georgia Regulators: Insurance is Essential Business

Posted: Mar 27, 2020

Regulators in North Carolina and Georgia are clarifying that insurance is considered an essential business as states move to limit what industries remain open during the current coronavirus outbreak. On March 24, North Carolina Insurance Commissioner Mike Causey requested that …

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North Carolina, Georgia Regulators: Insurance Is Essential Business

Posted: Mar 27, 2020

Regulators in North Carolina and Georgia are clarifying that insurance is considered an essential business as states move to limit what industries remain open during the current coronavirus outbreak. On March 24, North Carolina Insurance Commissioner Mike Causey requested that …

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Oklahoma to Issue Temporary New Licenses for Insurance Producers, Adjusters

Posted: Mar 27, 2020

Oklahoma Insurance Commissioner Glen Mulready has approved waiving certain requirements for new licenses issued to producers and adjusters. These measures will ensure services remain available during the state’s response to COVID-19. The Oklahoma Insurance Department (OID) contracts with a national...

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Federal Disaster Declaration Approved for Louisiana Due to COVID-19

Posted: Mar 27, 2020

President Donald Trump has granted a federal disaster declaration in Louisiana and ordered assistance to supplement recovery efforts in the areas affected by COVID-19. Louisiana’s governor asked the White House to declare a major disaster in his state to free …

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Empty streets call for reversal on car insurance costs

Posted: Mar 27, 2020

With much of everyday society driven into quarantine, could the coronavirus pandemic drive down car insurance premiums? With fewer cars on the road, that’s what consumer advocacy groups are calling for.

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Florida Declared Federal Disaster Due to Virus

Posted: Mar 27, 2020

President Donald Trump declared Florida a disaster area Wednesday because of the new coronavirus outbreak, while another of the state’s largest metropolitan areas moved toward a near-shutdown. The president acted a day after Gov. Ron DeSantis requested the declaration, becoming …

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Will COVID-19 Foul Up Our Weather Forecasts?

Posted: Mar 27, 2020

Airlines have had to dramatically cut flight schedules due to the coronavirus pandemic, and some experts believe this has begun to hurt weather forecasting. What?! It turns out that forecasting models depend heavily on data collected by aircraft. The European Centre for Medium-Range Weather Fo...

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Coronavirus Is Delaying Vital Safety Work Across Oil and Gas

Posted: Mar 27, 2020

The , is delaying vital maintenance across the oil and natural gas industries in Europe and North America. Restrictions on the numbers of contractors on rigs, pipelines and production sites are forcing companies to delay work that’s been planned for …

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For insurers, coronavirus provides a lesson in not to fail customers

Posted: Mar 27, 2020

The way insurance companies respond to the COVID-19 crisis is indicative of how the industry will meet the biggest challenges going forward: the disappearing retail customer, over-regulation, shrinking product margins, low customer loyalty and public distrust.

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New York Gym Chain Sued for Charging Fees Amid Virus Closure

Posted: Mar 27, 2020

New York Sports Clubs customer claims in a lawsuit she’s still being charged membership fees even after facilities have been shuttered by the coronavirus. The club’s owner, Town Sports International Inc., is making it “virtually impossible” to cancel memberships and …

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Viewpoint: Observations on Climate and Pandemics

Posted: Mar 27, 2020

Climate and Pandemics COVID-19 is a slowly unfolding catastrophe that poses a serious threat to humanity worldwide. Unlike a tornado, hurricane, or even flood, it is hard to say when the event will end. Unlike heat waves and droughts, it …

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Trade credit insurers expect to bear sizable losses: A.M. Best

Posted: Mar 27, 2020

Trade credit insurers will likely see significant losses due to travel bans, disruptions and a volatile economy amid the COVID-19 pandemic, A.M. Best & Co. said in a report Friday.

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The BI Top 10: Week of March 23, 2020

Posted: Mar 27, 2020

The coronavirus outbreak’s impact on policyholders continues to dominate the news. The only non-pandemic story to make this week’s Top 10 concerns Pacific Gas & Electric’s pleading guilty to 84 involuntary manslaughter counts related to the 2018 Camp Fire in California.

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PG&E’s Falling Stock Price Worries California Wildfire Victims Eyeing Deal

Posted: Mar 27, 2020

The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric’s $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A …

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California Commissioner Wants Data on Business Interruption Coverage

Posted: Mar 27, 2020

California Insurance Commissioner Ricardo Lara has directed insurance companies to submit data to the California Department of Insurance regarding coverage of commercial business interruption related to COVID-19. It is hoped the data will help state policymakers understand the scope of …

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Aetna Waiving Patient Co-Pays for Coronavirus Hospital Stays

Posted: Mar 27, 2020

One of the nation’s biggest health insurers is waiving patient payments for hospital stays tied to the coronavirus. CVS Health’s insurer Aetna said Wednesday that many of its customers will not have to make co-payments or other forms of cost …

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