Austin City Limits has joined the ranks of major music festivals to be canceled because of the coronavirus. Festival organizers said in a statement on July 1 that scrapping the three-day October event was “the only responsible solution.” The announcement …
New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance Act. “This is the only bill I have written that people are …
Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter profit. The …
Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential losses. The holding company for specialty insurance and reinsurance, ILS …
Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus outbreak began to bite, it said on Thursday. The Zurich-based company booked a hit of $476 million for anticipated and …
Britain’s competition regulator said it has opened investigations into thousands of complaints about companies refusing to pay refunds for canceled weddings and other events during the coronavirus pandemic. Britain has been in lockdown since March, forcing people to stay at …
The Tokyo Olympics were postponed on Tuesday into 2021, the first such delay in the Games’ 124-year modern history, as the coronavirus crisis wrecked the last international sporting showpiece still standing this year. Though a huge blow to Japan, which …
SXSW, the 10-day technology, film and music festival that has taken place in Austin every March since 1987, will not be held this year after Mayor Steve Adler declared a local disaster in response to the spread in Texas of …
Austin Mayor Steve Adler declared a local disaster on March 5 that effectively cancels this year’s South by Southwest festival. The 10-day event was scheduled to begin March 13 and expects hundreds of thousands of attendees to fly in from …
Massachusetts officials are launching an aggressive plan to regularly disinfect the state transit system and are calling on colleges and high schools to cancel study abroad programs as more than 700 residents have been quarantined amid the global spread of …
