Special Coverage: COVID-19

Coronavirus Leads Companies with Supply Chain Disruptions to Invoke ‘Force Majeure’

Coronavirus Leads Companies with Supply Chain Disruptions to Invoke ‘Force Majeure’

Posted: Feb 13, 2020

With the coronavirus outbreak that originated in Hubei province, China, showing no signs of abating any time soon, some companies that buy and sell goods in the Chinese market are taking interest in the legal defense of “force majeure.” The …

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Coronvirus Led to Cancellation of Telecoms Meeting, but Insurance Cover Is Excluded

Coronvirus Led to Cancellation of Telecoms Meeting, but Insurance Cover Is Excluded

Posted: Feb 13, 2020

Companies that have spent money on a major telecoms conference in Barcelona that has been canceled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organizers’ standard insurance, they said on Thursday. The GSMA telecoms body …

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Insurers Rush to Exclude Coronavirus Epidemic from Event-Cancellation Protection

Insurers Rush to Exclude Coronavirus Epidemic from Event-Cancellation Protection

Posted: Feb 13, 2020

Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. The Shanghai Grand Prix …

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CDC Cites Label Error in Mixup Involving Coronavirus Patient

CDC Cites Label Error in Mixup Involving Coronavirus Patient

Posted: Feb 13, 2020

SAN DIEGO — A labeling error caused a woman infected with the novel coronavirus to be mistakenly released from a hospital but the oversight was noticed as she was returning to a San Diego military base where more than 200 …

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Insurers Rush to Strip Coronavirus from Event-Cancellation Cover

Insurers Rush to Strip Coronavirus from Event-Cancellation Cover

Posted: Feb 13, 2020

LONDON, Feb 13 — Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. …

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Carriers Rush to Exclude Coronavirus Epidemic From Event-Cancellation Policies

Carriers Rush to Exclude Coronavirus Epidemic From Event-Cancellation Policies

Posted: Feb 13, 2020

Carriers Rush to Exclude Coronavirus Epidemic From Event-Cancellation Policies Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the ...

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Uncertainty Clouds Business Risks Related to Covid-19 Coronavirus

Posted: Feb 13, 2020

Supply-chain disruptions due to Covid-19 could affect health care worldwide and lead to health, travel, life, workers comp, business interruption, and other claims.  The Covid-19 coronavirus death toll has passed 1,300 and will likely continue to climb, with more than 60,000 cases reported wo...

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Coronavirus Clouds U.S. Outlook But Economic Impact Should be Modest: S&P

Coronavirus Clouds U.S. Outlook But Economic Impact Should be Modest: S&P

Posted: Feb 12, 2020

The coronavirus outbreak in China is clouding the global outlook and leading to both business caution and potential overall weakness in U.S. growth, according to S&P Global. However, given its limited exposure, the U.S. economy should experience only modest impact. …

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Infectious Disease: A Good Reason to Buy Medical Travel Insurance – But Check the Terms

Posted: Feb 12, 2020

Faced with Covid-19 coronavirus, people – as they tend to during infectious outbreaks – have become concerned about whether and to what extent their insurance will cover costs associated with the event. In the case of travel insurance, there’s good, bad, and ambiguous news. If you contract coron...

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Coronavirus: What Should Insurers Do? by Ross Campbell

Coronavirus: What Should Insurers Do? by Ross Campbell

Posted: Feb 12, 2020

The news of an outbreak in China of a new type of coronavirus (2019-nCoV), leading to respiratory illness, recalls previous potential pandemic infections. Coronavirus was behind SARS (Severe Acute Respiratory Syndrome) in 2002 and MERS (Middle East Respiratory Syndrome) in 2012. The outbreak is bei...

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For businesses suffering from coronavirus losses, insurance may offer a remedy

For businesses suffering from coronavirus losses, insurance may offer a remedy

Posted: Feb 11, 2020

As a hub for international travel and tourism, South Florida businesses are hardly immune from the economic consequences of this epidemic.

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As Coronavirus Fails To Ease, Interest In ‘Force Majeure’

As Coronavirus Fails To Ease, Interest In ‘Force Majeure’

Posted: Feb 11, 2020

With the coronavirus outbreak that originated in Hubei province, China, showing no signs of abating any time soon, some companies that buy and sell goods in the Chinese market are taking interest in the legal defense of “force majeure.” The …

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Thai Insurer Offers First Coronavirus Insurance Policy

Thai Insurer Offers First Coronavirus Insurance Policy

Posted: Feb 10, 2020

The world’s best-performing insurance firm has seized on the latest health concern to offer Thailand’s first policy to cover the novel coronavirus. TQM Corp., with partner Bangkok Insurance Pcl, this week introduced a policy that costs 299 baht ($9.62) and …

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Coronavirus spurs ISO to provide business interruption endorsement

Coronavirus spurs ISO to provide business interruption endorsement

Posted: Feb 10, 2020

Coverage is for loss of business income or extra expenses incurred because the civil authority ordered a closing to prevent the spread of disease.

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Coronavirus Cases Outside China “Could be Spark” for Bigger Fire, Says WHO

Coronavirus Cases Outside China “Could be Spark” for Bigger Fire, Says WHO

Posted: Feb 10, 2020

BEIJING/GENEVA — The World Health Organization (WHO) said on Monday the spread of coronavirus cases which had no history of travel to China could be “the spark that becomes a bigger fire” as people across China trickled back to work …

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Coronavirus Update: Deaths Surpass 900; World Health Experts Head to Beijing

Coronavirus Update: Deaths Surpass 900; World Health Experts Head to Beijing

Posted: Feb 10, 2020

BEIJING, Feb 10 — An advance team of international experts led by the World Health Organization (WHO) has left for Beijing to help investigate China’s coronavirus epidemic, which authorities said on Monday had now claimed 908 lives on the mainland. …

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Coronavirus Hits Trade Fairs, Industry Conferences

Coronavirus Hits Trade Fairs, Industry Conferences

Posted: Feb 07, 2020

Feb 7 (Reuters) – Over two dozen large trade fairs and industry conferences in China and overseas have been postponed or hit by travel curbs and concerns about the spread of a coronavirus, potentially disrupting billions of dollars worth of …

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China’s Coronavirus Deaths, Rise; Supply Chains, Production, Travel Disrupted

China’s Coronavirus Deaths, Rise; Supply Chains, Production, Travel Disrupted

Posted: Feb 07, 2020

WUHAN, CHINA– China’s fast-moving coronavirus spread among passengers of a quarantined Japanese cruise liner on Thursday and dragged down production at more global businesses, as scientists across the world searched for a vaccine. The death toll from the virus in …

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Thai Broker TQM, Insurer Are First to Roll Out Thai Coronavirus Policy

Thai Broker TQM, Insurer Are First to Roll Out Thai Coronavirus Policy

Posted: Feb 07, 2020

Thai Broker TQM, Insurer Are First to Roll Out Thai Coronavirus Policy The world's best-performing insurance firm has seized on the latest health concern to offer Thailand's first policy to cover the novel coronavirus. TQM Corp., with partner Bangkok Insurance Pcl, this ...

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Hong Kong Insurers Say Sales Have Fallen to ‘Almost Nothing’ Due to Coronavirus

Hong Kong Insurers Say Sales Have Fallen to ‘Almost Nothing’ Due to Coronavirus

Posted: Feb 07, 2020

For Hong Kong insurers, the coronavirus outbreak is a second blow. Already reeling from at-times violent demonstrations that slowed the flood of Chinese travelers — one of the biggest sources of new policyholders — to a trickle, the spread of …

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