Fifteen U.S. minor league baseball teams on Tuesday sued several insurers for not paying out claims for business interruption losses after the cancellation of “much or all” of the league’s season as a result of the coronavirus pandemic, according to …
Commercial insurers are scrutinizing building managers’ efforts to avoid outbreaks of Legionnaires’ disease as they re-open movie theaters, gyms, schools and offices that had been closed for months due to the coronavirus pandemic, industry sources told Reuters. Legionnaires’ disease is …
U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 …
U.S. trade credit insurers have approached the U.S. Treasury Department and Federal Reserve seeking financial backing for claims payments to support business supply chains hit by the novel coronavirus pandemic, three people familiar with the matter said. Trade credit insurance, …
As U.S. businesses reopen after weeks of pandemic lockdowns, many have been posting coronavirus disclaimers or requiring employees and patrons to sign waivers before entering. From hair salons and recreation centers to stock exchanges and wedding photographers, the notices have …
Shareholders of American International Group Inc. strengthened their support for the U.S. insurance company’s executive compensation plan after the board made changes to its pay packages, according to vote totals AIG released on Thursday. Nearly 94% of the shareholder votes …
American International Group Inc. faces a crucial test on Wednesday, when shareholders are to vote on whether the board of directors has adequately addressed their concerns about executive pay. Investors offered relatively weak support for AIG’s pay proposals in the …
Insurer American International Group Inc. on Monday posted a 93% drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe loss the industry has ever …
Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment portfolios. Executives, lawyers and analysts say …
The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters. The campaign involves …
