If the novel COVID-19 pandemic is brought under control soon, the disease’s impact on the insurance industry as a whole may be pretty much a wash. It not, the industry may be on the verge of an historic catastrophe. A …
Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators said. Disputes over cover for businesses struggling to stay afloat during coronavirus lockdowns have erupted in countries …
America’s meat-processing plants are starting to reopen but not all workers are showing up. Some still fear they’ll get sick after coronavirus outbreaks shut more than a dozen facilities last month. Employees are taking leave, paid and unpaid — or …
If only 10 percent of health care workers contract COVID-19 and all of their claims are deemed compensable, workers’ compensation loss costs for that sector could double or even triple in some states, according to an analysis by the National …
Business interruption insurance has been a much-debated topic during the coronavirus crisis, with some businesses already pushing back against virus-related claim denials. In several cities, groups of businesses have filed lawsuits challenging virus exclusions in their business interruption policies, such …
While the potential cost of relaxing a tenet of the workers’ compensation system to deal with extraordinary circumstances of COVID-19 could top $50 billion, it’s more likely to be one-fifth of that, an analyst reported recently. States like Michigan and …
Before the coronavirus outbreak, furniture deliveries at Sunnyland Outdoor Living meant two employees sitting side-by-side in a truck. Now, one will be driving the truck while the second follows in a car. And when Sunnyland’s workers reach a customer’s home, …
Insurer American International Group Inc. on Monday posted a 93% drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe loss the industry has ever …
Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment portfolios. Executives, lawyers and analysts say …
A group of Republican U.S. senators said Thursday they would introduce legislation to address consumer privacy concerns surrounding technology companies’ efforts to help build contact tracing apps to fight the new coronavirus outbreak. Senator Roger Wicker, who chairs the Commerce …
