For four decades, the Riverbend Festival delighted music fans in Tennessee with headlining acts like Lionel Ritchie and ZZ Top, but this year the show won’t go on. “Riverbend is reevaluating and restructuring in order to be successful in the …
Parametric Insurtech startup BirdsEyeView has closed a seed funding round for an undisclosed amount led by SFC Capital, with the funds matched by the European Space Agency (ESA). BirdsEyeView uses satellite data to structure insurance coverage for severe weather events …
Concerns about COVID-19 have prompted the cancellation of one of New Jersey’s premier road races for the second year in a row. The New Jersey Marathon and Half Marathon were scheduled to be held in and around Long Branch on …
Britain launched a government-backed reinsurance scheme totaling more than 750 million pounds ($1 billion) on Thursday to cover live events against cancellation risk due to the COVID-19 pandemic, after intense industry lobbying. Insurers stripped coronavirus cover from event cancellation policies …
The “king of beers”—Budweiser— is venturing into the Canadian insurance industry with the launch of Budweiser Insurance. The major brand made its intentions known in two separate announcements. Addressing those who doubted the seriousness of the effort, Mike D’Agostini, Budweiser …
Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents and reinsurers may often disagree about how the reinsurance contracts apply, …
Seattle, Wash., ticketing company Brown Paper Tickets has agreed to pay $9 million in restitution to an estimated 45,000 customers. The Seattle Times reported the payments will go to ticket buyers owed refunds and event organizers owed box-office revenue largely …
Olympic officials on Wednesday unveiled the first of many COVID-19 rules for the Tokyo Games this summer, banning singing and chanting during events and mandating participants to wear masks at “all times” except when eating, sleeping or outdoors. The measures, …
LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …
BERLIN— The Tokyo Olympics will top the agenda when the International Olympic Committee’s executive board meets on Wednesday – but with the board firmly backing the event, any talk of scrapping it altogether due to the COVID-19 pandemic is highly …
