A major water leak in central Japan on Wednesday disrupted supply to more than 130 businesses near the production center of Toyota Motor Corp. The accident in Japan’s manufacturing heartland threatened interruptions at major auto firms and power companies. A …
Robust global economic recovery, higher risk awareness and the strongest rate hardening for 20 years in non-life insurance commercial lines will combine to push premiums 10% above pre-COVID-19-crisis levels this year, creating a faster bounceback than from the global financial …
A New Jersey bill that would allow business interruption insurers in the state to add a rider for virus and pandemic coverage is moving forward, with some in the industry saying it could encourage more insurers to provide this coverage. …
See a need and then fill it. That’s the secret of most successful businesses—and that was the driving motivator of insurtech Thimble, which is currently working on coverage for small business customers during business interruptions. Jay Bregman, co-founder of the …
A bill filed in Texas would require business interruption insurance policies to cover losses from a pandemic. Under SB 249, filed by Sen. Charles Schwertner, business interruption insurance would be required to “cover loss caused by a pandemic, including loss …
CALGARY, Alberta – Restrictions imposed by British Columbia to fight the spread of COVID-19 infections after the holiday break have disrupted work at construction sites of a Rio Tinto hydropower project and BC Hydro’s Site C dam. A total of …
Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies …
Louisiana lawmakers won’t try to force business interruption insurance policies to cover the widespread closures caused by the COVID-19 pandemic. Sen. Rick Ward, a Port Allen Republican, shelved the proposal amid concerns it could crater the state’s insurance industry and …
A dive shop in South Florida is one of the first businesses in the state to file suit against its insurer for the denial of a business interruption claim initiated because of the current coronavirus pandemic. The lawsuit, Mace Marine …
New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that hasn’t stopped some states from rolling …
