The European Union’s executive body urged caution on Tuesday in the face of calls for a public-private scheme for insuring companies against economic lockdowns in future pandemics. “This is a very complex debate and needs time to mature,” John Berrigan, …
Plaintiffs attorneys are looking deep into the weeds for evidence to support claims for business income lost because of COVID-19 public safety orders. Lawyers for footwear wholesaler Marc Fisher LLC and its affiliates are asking a Connecticut state court to …
The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings. This net profit figure was down from $56 …
LONDON – When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman …
A federal judge in Sherman, Texas on Wednesday ruled against insurer FM Global that sought to dismiss a $500 million COVID-19 business-interruption lawsuit by the nation’s third-largest chain of movie theaters. The decision broke a month’s-long losing streak for policyholders …
The Hartford CEO Christopher Swift expressed confidence that the property/casualty insurer has weathered the worst of the COVID-19 pandemic and that related concerns about business interruption claims have become minimal. “I have never been more excited about The Hartford’s future,” …
AM Best is maintaining a negative market segment outlook on the United Kingdom non-life insurance segment, citing economic uncertainty as a key headwind for UK non-life insurers. In addition, COVID-19-related lockdown measures coincided with the country’s exit from the European …
Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event cancellations and business interruption policies, with the impact …
Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a number of states have responded by filing legislation to …
South Africa may still be short of the halfway mark of the pandemic even after two distinct waves of the coronavirus swept through the country over the past year. “We are basically planning for two-and-a-half more waves,” Sanlam Ltd. Chief …
