The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses caused by …
Just over 81,000 Arizona small businesses were approved for loans worth $8.6 billion under a government program meant to keep people employed during the COVID-19 pandemic, according to data released Monday by the federal government. The Arizona companies reported saving …
Circus Circus Hotel and Casino has filed a lawsuit against AIG Specialty Insurance Co. alleging that AIG wrongfully denied coverage for the company’s losses resulting from the COVID-19 pandemic. The lawsuit was filed by in the U.S. District Court of …
How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already complex claims situation. Illustrating some of the specific reinsurance coverage questions …
Hospitals rapidly approached capacity across the Sunbelt, and the Miami area closed indoor dining at restaurants and gyms again because of the surging coronavirus Monday, as the U.S. emerged from a Fourth of July weekend of picnics, pool parties and …
Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new lines. New insurance ventures sprang …
Nevada health officials reported 843 more confirmed cases of coronavirus on Sunday and four more known deaths. The cumulative number of statewide COVID-19 cases now is 22,418 with 534 known deaths. That’s 1,700 more patients since July 2 when the …
The Anchorage Department of Health released a list of businesses where people who later tested positive for COVID-19 spent extended periods of time. The health department named 19 locations in the Municipality of Anchorage, Palmer and Seward to which the …
Chubb’s disclosure of second quarter 2020 global net catastrophe losses underscores the damage COVID-19 is doing to some carriers’ bottom lines. The global property/casualty insurer estimated $1.8 billion in pretax catastrophe losses for Q2, or $1.5 billion after tax. Of …
A multistory health club shuttered by the coronavirus pandemic collapsed into a heap of rubble on a Brooklyn street Wednesday, three weeks after building inspectors ordered a halt to some construction work at the location because of structural problems. The …
