Soon after the attacks on the World Trade Center and other locations on the morning of September 11th, President Bush declared that the atrocities were “an act of war.” That statement prompted a call to me from a friend and …
President Donald Trump has staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay. Trump spoke about the issue for a minute and a half during his daily coronavirus task force …
In the midst of this pandemic, insurance buyers and their brokers are looking for COVID-19 pandemic coverage, which is like buying property insurance when your house is on fire, according to Tracey Gibbons, senior vice president, Underwriting, at Third Point …
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 …
One of the nation’s biggest health insurers is waiving patient payments for hospital stays tied to the coronavirus. CVS Health’s insurer Aetna said Wednesday that many of its customers will not have to make co-payments or other forms of cost …
A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close by civil …
The coronavirus (COVID-19) outbreak is not currently anticipated to have a meaningful adverse impact on financial results reported by U.S. property/casualty companies, nor their ratings, according to Fitch Ratings. The nature of insured commercial exposures along with restrictive language embedded …
Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of dollars. Japan has more than 200 cases of …
The coronavirus has not only sickened tens of thousands of people, killed several hundred, and disrupted life for millions, but has also sharply impacted the second-largest economy in the world. Many Chinese companies have suspended operations, and international companies like …
With the coronavirus outbreak that originated in Hubei province, China, showing no signs of abating any time soon, some companies that buy and sell goods in the Chinese market are taking interest in the legal defense of “force majeure.” The …
