Lloyd’s of London is proposing solutions that could provide customers with greater protection against a future wave of the COVID-19 virus or future systemic – “black swan” – catastrophes, such as another pandemic, a global cyber attack or a solar …
Specialist insurer Beazley has launched a contingency policy designed to cover event organizers if a transmission failure disrupts or cancels a live virtual event. The insurer acknowledged that streaming live events is not new but the policy responds to an …
Cities and counties across the country may have handed plaintiff’s attorneys an argument to use in lawsuits against insurers that seek business-interruption coverage for losses caused by coronavirus closure orders. Jurisdictions as far asunder as Los Angeles, Calif. and Key …
The chairman of Berkshire Hathaway said that while his insurance units aren’t heavily exposed to underwriting losses from the COVID-19 pandemic, they would be willing to insure pandemics in the future. “The answer is we insure a lot of things. …
A popular seafood restaurant chain that has been shuttered by the coronavirus and restrictions on dining has gone to court to get its insurer to pay for its business interruption losses. It believes its insurer is obligated in part because …
International insurance broker Gallagher announced the release of a Pandemic Group Insurance product, providing a comprehensive COVID-19 indemnity cover solution to the India market. For essential workers and front-line services including hospital and healthcare providers, food distribution, and pharmaceutical manufacturers, …
Direct Auto Insurance affiliates will give personal auto insurance policyholders a 15% credit on their April premiums in an effort to assist customers impacted by COVID-19. Policyholders do not have to take any action to receive the credit. The credit …
The group of property/casualty insurers offering auto insurance premium discounts to recognize that insureds are driving less during the coronavirus crisis continues to grow, and now includes all major auto insurers. Most discounts are for personal lines auto customers, however …
At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended consequences. Fitch Ratings cautions that the move could pose risks to the …
A ruling last week not to wipe out holders of a World Bank financial instrument providing emergency funds to poor countries in a pandemic, was just a stay of execution if bond markets are to be believed. The riskier $95 …
