A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …
A federal appeals court has ruled that a Massachusetts hospital is entitled to coverage for losses due to COVID-19 under a health care endorsement in its policy from Continental Casualty Co. The First Circuit Court of Appeals concluded that Lawrence …
Texas insurance carriers reported nearly 100,000 COVID-19 claims and 472 fatalities to the Texas Department of Insurance, Division of Workers’ Compensation (DWC), according to a factsheet released this week by DWC. More than two-thirds of all COVID-19 claims (72%) involved …
Taiwan’s insurance industry has buffered itself against surging COVID claims after raising capital, the head of the island’s market regulator said. The property insurance companies have no problems fulfilling their obligations in paying claims so far, Huang Tien-mu, the chairperson …
Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …
The number of workers’ compensation claims reported to the Texas Department of Insurance, Division of Workers’ Compensation (DWC) increased 20% during the first 27 months of the COVID-19 pandemic (January 2020 through March 31, 2022) compared to the prior 27 …
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) reported more than 78,000 COVID claims and 422 fatalities as of Feb. 6, 2022. DWC’s March report, “COVID-19 In The Texas Workers’ Compensation System,” is based on a data call …
Because of job losses and shrinking payrolls during the pandemic recession, the workers’ compensation industry’s net written premium dropped 10% to $42 billion in 2020. However, private insurers posted a profitable calendar year combined ratio of 87, the industry’s fourth …
An updated report on workers’ compensation claims in Texas related to COVID-19 shows that as of Feb, 14, 2021, insurance carriers reported more than 44,000 COVID-19 claims and 200 fatalities to the state’s workers’ compensation division. The report, COVID-19 in …
MILAN – Europe’s insurance industry doesn’t have the capacity to deal with the systemic risk of a pandemic and more protection needs to be put in place through private-public partnerships, the head of Italian insurer Generali said on Thursday. Speaking …
