December 15, 2020
A bipartisan group of lawmakers released proposed Covid-19 relief legislation that may provide momentum for breaking a months-long impasse, by separating out coronavirus liability protections and state aid — the two most contentious and partisan items. After Republicans and Democrats …
October 21, 2020
Banks that facilitated the U.S. government’s Paycheck Protection Program at first saw the effort as a small revenue booster with a patriotic bonus, shepherding $525 billion in loans to businesses slammed by the fallout of the COVID-19 pandemic. But as …
August 11, 2020
Senate Majority Leader Mitch McConnell’s insistence that legal liability protections for businesses, schools and colleges be included in any new coronavirus relief bill is approaching a moment of reckoning. Warning that an avalanche of litigation would undercut any rebound from …
August 10, 2020
What pandemic? Allstate’s doing just fine. The giant personal lines insurer reported net income of $1.2 billion for the second quarter, an increase of 49% compared to the prior year quarter. Underwriting income improved to $904 million – a rise …
July 29, 2020
Stimulus talks between President Donald Trump’s representatives and Democrats bogged down Tuesday over demands by Senate Majority Leader Mitch McConnell that his proposed changes to liability law be included wholesale in the aid package. House Speaker Nancy Pelosi said McConnell’s …
July 20, 2020
After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from Fitch Ratings. The ongoing pandemic is “substantially affecting” …
April 17, 2020
WASHINGTON/SAN FRANCISCO, April 17 (Reuters) – Over two frantic weeks, the U.S. government pledged $350 billion to Main Street businesses across America desperate for cash after coronavirus lockdowns. Now a picture is emerging of who got the money. More than …
April 5, 2020
The Travelers Companies announced that it will accelerate commission payments to eligible agents and brokers to help them ease liquidity concerns due to the COVID-19 crisis. In total, Travelers said it is accelerating more than $100 million, which it called …
April 1, 2020
An insurtech small business insurer is cutting April premiums by 25% for its customers with general liability, professional liability and commercial auto policies to help them get through the coronavirus crisis. Next’s founder and CEO Guy Goldstein said he is …
March 25, 2020
U.S. senators will vote on Wednesday on a $2 trillion bipartisan package of legislation to alleviate the devastating economic impact of the coronavirus pandemic, hoping it will become law quickly so they can get out of Washington. Here are major …