Latest COVID-19 Headlines
All the headlines from our COVID-19 Topic Page, ordered by recency.
India in Lockdown Rushes to Maintain Back Office Functions for Global Businesses
Mar 25 2020 // Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the nation mandates increased...
What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus
Mar 25 2020 // As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements. David A....
Casino Gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL
Mar 24 2020 // A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among...
Coronavirus (COVID-19): Does Business Income Respond?
Mar 24 2020 // Over the past two weeks, the VU has received countless questions concerning COVID-19 (the coronavirus) and the business income policy. As authorities require businesses to limit activities or shut down completely, the fear...
Coronavirus and the Auto Exposure
Mar 24 2020 // Over the last several days the VU has fielded several auto insurance related questions. These questions cannot be classed simply as personal auto or business auto questions because the most common question involves both...
COVID-19 Should Force Rethink of Wisdom of Monopoly State Funds
Mar 24 2020 // The COVID-19 outbreak is expected to hit the workers’ compensation insurance market hard. After a long stretch of declining costs that saw rates fall nationwide from 2015 to 2019, claims for workers infected by the...
Insurance Makes ‘Essential Business’ List for States Restricting Commerce Due to Virus
Mar 24 2020 // Insurance industry professionals might take some pride in knowing that they are considered essential. In states where only essential businesses are allowed to keep operations going during the coronavirus epidemic, it...
Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?
Mar 24 2020 // On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or...
Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact
Mar 24 2020 // Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and...
UK Travel Insurers Expect to Pay Record Coronavirus Claims of US$319M
Mar 24 2020 // UK travel insurers expect to pay record claims of at least £275 million (US$319 million) due to the coronavirus pandemic, according to first estimates from the Association of British Insurers (ABI). The vast majority of...
Consumer Groups Want Auto Premiums to Reflect Coronavirus Curb on Driving
Mar 24 2020 // The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers...
Western Supply Chains Begin to Buckle on Expanding Coronavirus Lockdowns
Mar 23 2020 // Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most...
Coronavirus Outbreak Exposes Flaws in Design of Pandemic Bonds
Mar 23 2020 // To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds” several years ago: the idea was to leverage private capital from Wall...
French Insurers to Contribute $216M to Coronavirus Solidarity Fund for Businesses
Mar 23 2020 // French insurance lobby FFA said on Monday insurers would contribute up to 200 million euros ($216 million) to funds set up by the government to help companies deal with a significant drop in activity due to the coronavirus...
Treasury Secretary Mnuchin Says Coronavirus Lockdown to Last Until June
Mar 23 2020 // The lockdown affecting large segments of the American public to try to curb the spread of the coronavirus is likely to last 10 to 12 weeks, or until early June, U.S. Treasury Secretary Steven Mnuchin said on...
FEMA Tackles COVID-19 While Also Facing Past Disasters, Spring Flood Season
Mar 23 2020 // It wasn’t until Wednesday, five days after President Donald Trump declared a national emergency, that the Federal Emergency Management Agency announced it was “leading the federal coordination” to the...
‘Cancel for Any Reason’ Travel Policies Offered in New York as Coronavirus Spreads
Mar 23 2020 // Six global and national insurance companies have agreed to offer ‘cancel for any reason’ travel policies in New York state as the coronavirus pandemic continues to spread. The insurance companies offering this...
Manufacturers: Mostly On Their Own to Face Coronavirus Insurance
Mar 23 2020 // Remote Work Not Much Help for Assembly Lines Property/casualty insurance professionals are trying to provide advice and empathy to their manufacturing clients coping with the effects of the spread of the coronavirus. But...
Coronavirus Impact on Workers’ Compensation Limited But Some Workers May Be Covered
Mar 23 2020 // The outbreak of coronavirus has already resulted in some workers’ compensation claims and more are expected. But whether those claims are going to succeed depends on the individual circumstances and the state where...
Cruel Paradox: Beating Virus Means U.S. Recession
Mar 20 2020 // The coronavirus is dealing a death blow to the longest U.S. economic expansion on record, triggering layoffs and putting intense strain on the nation’s financial system. In a cruel paradox, the very steps that are...
