A class action lawsuit has been filed against Canada’s top indemnity insurers for breach of contract in their refusal to pay business interruption claims from the COVID-19 crisis. “Indemnity insurers are wrongfully refusing to honor their contracts,” said E.F. Anthony …
Insurance carriers are continuing to step forward with offers of help for customers and communities affected by the coronavirus crisis. Allstate announced that its Allstate, Esurance and Encompass personal auto insurance customers will receive a Shelter-in-Place Payback, a premium credit …
Global insurer Chubb announced that it will not conduct any layoffs among its 33,000 employees while in the midst of the COVID-19 pandemic health crisis. The insurer has also pledged to give $10 million to pandemic relief efforts globally. “We …
World insurers told governments on Monday that making them pay out on losses suffered due to the coronavirus that were not covered by policies risked destabilizing the insurance industry. With the global economy hammered by measures to halt the spread …
The founder of one of the world’s best-performing insurance firms this year never imagined its policies to cover illness from the coronavirus would draw “overwhelming” demand when it began selling them well before the pathogen spread across Thailand and the …
Fitch Ratings has placed Lloyd’s of London’s ‘AA-‘ Insurer Financial Strength (IFS) ratings on rating watch negative, on the uncertainty and increased risk to Lloyd’s earnings and underwriting performance due to claims from the COVID-19 pandemic. The negative rating watch …
Florida Governor Ron DeSantis issued a statewide executive order Wednesday requiring all citizens in the state to stay at home except for those doing essential business or activities. The move comes as the state has more than 8,000 cases of …
COVID-19 could produce a big increase in social inflation, according to A.M. Best. The reason: expectations that businesses will sue their insurers in an attempt to access their business interruption coverage for losses relating to the coronavirus pandemic. A.M. Best …
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 care providers are already giving advice on …
Aon plc, the global re/insurance broker, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) insurers. The new bind feature enables Lloyd’s and the London company markets …
