USA - Latest Insurance News

Life-or-Death Decisions by Hospitals, Doctors Come With Threat of Lawsuits

Apr 2 2020 // Doctors and hospitals overwhelmed in the pandemic will have to make their excruciating life-or-death decisions meticulously or they risk being second-guessed by a jury when the onslaught is over. Lawyers who defend health...

Initial Insured Losses for UK’s February Floods Estimated at £297M (US$367.8M): PERILS

Apr 2 2020 // Initial insured losses for the floods that hit the UK in February are estimated at £297 million (US$367.8 milion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...

Insurers Worry About D&O Claims Against Executives From Coronavirus

Apr 2 2020 // Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses,...

China Re Is Weighing Establishing U.S. Operation: Reuters

Apr 1 2020 // BEIJING, April 1 (Reuters) – China Reinsurance Group Corp said on Wednesday it will carefully consider its plan to set up a business entity in the United States, based on its global strategy and the implementation of...

Coronavirus Relief Loans Will Be Available for Small Businesses Friday

Apr 1 2020 // The United States’ new $350 billion small-business coronavirus rescue loan program could see millions of applications when it launches on Friday, senior Trump administration officials said on Tuesday. Officials from...

New Argo Group CEO Rehnberg Aims for Transparency and Straight Shooting

Mar 31 2020 // Argo Group had been under fire for months over allegations that its board spent excessively on executive compensation when Kevin Rehnberg became interim CEO in November 2019. Three months later, Rehnberg was named as its...

Cannabis Deemed an ‘Essential’ Business. Will Insurance Landscape Change?

Mar 26 2020 // It’s not just toilet paper and hand sanitizer people have been stocking up on during the COVID-19 crisis. Inventory levels at adult use cannabis stores in the U.S. showed a quick decline after the COVID-19 crisis...

U.S. Lawsuit Wants China to Pay for Business Income Losses from Coronavirus

Mar 26 2020 // An attorney who represented victims of the Las Vegas shooting massacre has filed a federal lawsuit against China’s government over the new coronavirus, saying that officials hid information about the outbreak and...

Cyber Insurance Sales to U.S. Businesses Picking Up: Marsh

Mar 26 2020 // The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing...

Pandemic Hampers World’s Weather Forecasts with Halting of Commercial Flights

Mar 26 2020 // The pandemic that has idled scores of commercial flights is having a little-noticed consequence for meteorologists, whose forecasts rely in part on data collected from planes. That means a crucial eye in the sky has...

Lloyd’s Returns to Profit, Says in ‘Strong Position’ to Respond to COVID-19

Mar 26 2020 // While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was...

As Coronavirus Threatens Gig Workers, Uber Presses for New Worker Classification

Mar 25 2020 // As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours. But as the coronavirus brings large parts of the country to a halt, drivers and companies are...

Some Details of the $2 Trillion U.S. Senate Coronavirus Rescue Bill

Mar 25 2020 // U.S. senators will vote on Wednesday on a $2 trillion bipartisan package of legislation to alleviate the devastating economic impact of the coronavirus pandemic, hoping it will become law quickly so they can get out of...

How East Insurance Regulators Are Responding to the Coronavirus Pandemic

Mar 25 2020 // As insurers continue to monitor the spread and impact of COVID-19, insurance regulators across the East region of the U.S. are issuing guidance on how the industry can respond. “There is almost no aspect of the...

UK, U.S. Banks and Regulators Warn of Wave of Coronavirus Scams

Mar 25 2020 // UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus...

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...

Supply Chain Problems Move from China to U.S. and Other Nations

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...

Western Supply Chains Begin to Buckle on Expanding Coronavirus Lockdowns