A healthcare system in Shreveport, Louisiana, has been cited by federal workplace safety officials for failing to protect employees from coronavirus exposure. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited Christus Shreveport-Bossier Health System for failing …
The Financial Conduct Authority said today’s High Court judgment in its coronavirus business interruption insurance test case found in favour of policyholders on the majority of the key issues. “Our aim throughout this court action has been to get clarity …
Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s Financial Conduct Authority (FCA) to clarify insurance coverage for COVID-19 related business interruption claims. The FCA says the court brought …
London judges have ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain’s Financial Conduct Authority (FCA) said on Tuesday. The FCA, which brought …
Claims inflation for the commercial liability business will increase through 2020, although it was accelerating even before the coronavirus pandemic hit. This trend, known as social inflation, has led the insurance industry to reduce capacity and increase prices to try …
In every crisis, lessons must be learned, but opportunities also are revealed. And so it goes with the COVID-19, which has shown the need for contract certainty in the re/insurance industry, while at the same time providing an impetus toward …
A collective failure by political leaders to heed warnings and prepare for an infectious disease pandemic has transformed “a world at risk” to a “world in disorder,” according to a report on international epidemic preparedness. “Financial and political investments in …
The tailwinds propelling the global reinsurance sector are sufficient impetus for the ratings agency AM Best to retain its stable outlook for the reinsurance industry, despite multiple challenges. During a virtual press briefing on Sunday, the ratings agency described the …
Judith Ramirez received a letter this month that she’d been dreading: The Honolulu hotel that furloughed her from a housekeeping job in March, during the lockdown triggered by the coronavirus pandemic, made her layoff permanent. Ramirez, 40, was originally told …
Economic uncertainty and volatility, in combination with COVID-19-related losses, is leading to a heightened level of cautiousness among property reinsurers unless pricing and terms and conditions meet specific thresholds, according to Lara Mowery, global head of distribution, Guy Carpenter. For …
