Latest COVID-19 Headlines
All the headlines from our COVID-19 Topic Page, ordered by recency.
Lloyd’s Returns to Profit, Says in ‘Strong Position’ to Respond to COVID-19
Mar 26 2020 // While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was...
Florida Regulator Outlines How Industry Can Help Insureds During COVID-19 Response
Mar 26 2020 // The Florida Office of Insurance Regulation has issued an additional memorandum related to the coronavirus outbreak to all the insurers and entities it regulates in an effort to provide general guidance on the treatment of...
How Policy Silence on Pandemics May Bedevil Insurers on Coronavirus Claims
Mar 26 2020 // Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an insurtech that specializes in analyzing insurance policy language suggested recently, explaining that without specific...
400 Cybersecurity Pros Volunteer to Fight Hacking Tied to Coronavirus
Mar 26 2020 // An international group of nearly 400 volunteers with expertise in cybersecurity formed on Wednesday to fight hacking related to the novel coronavirus. Called the COVID-19 CTI League, for cyber threat intelligence, the...
North Carolina Urges Insurers To Be ‘Flexible,’ Available During COVID-19 Emergency
Mar 25 2020 // North Carolina Insurance Commissioner Mike Causey has asked the state’s insurance companies to be economically flexible with consumers in light of the COVID-19 health emergency. “Some of the mitigating efforts...
Coronavirus and the CGL
Mar 25 2020 // Although the Virtual University has not received questions regarding how the commercial general liability (CGL) policy will respond to the coronavirus (COVID-19), the CGL’s response must still be understood. Various...
As Coronavirus Threatens Gig Workers, Uber Presses for New Worker Classification
Mar 25 2020 // As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours. But as the coronavirus brings large parts of the country to a halt, drivers and companies are...
Some Details of the $2 Trillion U.S. Senate Coronavirus Rescue Bill
Mar 25 2020 // U.S. senators will vote on Wednesday on a $2 trillion bipartisan package of legislation to alleviate the devastating economic impact of the coronavirus pandemic, hoping it will become law quickly so they can get out of...
How East Insurance Regulators Are Responding to the Coronavirus Pandemic
Mar 25 2020 // As insurers continue to monitor the spread and impact of COVID-19, insurance regulators across the East region of the U.S. are issuing guidance on how the industry can respond. “There is almost no aspect of the...
UK, U.S. Banks and Regulators Warn of Wave of Coronavirus Scams
Mar 25 2020 // UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus...
India in Lockdown Rushes to Maintain Back Office Functions for Global Businesses
Mar 25 2020 // Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the nation mandates increased...
What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus
Mar 25 2020 // As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements. David A....
Casino Gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL
Mar 24 2020 // A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among...
Coronavirus (COVID-19): Does Business Income Respond?
Mar 24 2020 // Over the past two weeks, the VU has received countless questions concerning COVID-19 (the coronavirus) and the business income policy. As authorities require businesses to limit activities or shut down completely, the fear...
Coronavirus and the Auto Exposure
Mar 24 2020 // Over the last several days the VU has fielded several auto insurance related questions. These questions cannot be classed simply as personal auto or business auto questions because the most common question involves both...
COVID-19 Should Force Rethink of Wisdom of Monopoly State Funds
Mar 24 2020 // The COVID-19 outbreak is expected to hit the workers’ compensation insurance market hard. After a long stretch of declining costs that saw rates fall nationwide from 2015 to 2019, claims for workers infected by the...
Insurance Makes ‘Essential Business’ List for States Restricting Commerce Due to Virus
Mar 24 2020 // Insurance industry professionals might take some pride in knowing that they are considered essential. In states where only essential businesses are allowed to keep operations going during the coronavirus epidemic, it...
Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?
Mar 24 2020 // On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or...
Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact
Mar 24 2020 // Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and...
UK Travel Insurers Expect to Pay Record Coronavirus Claims of US$319M
Mar 24 2020 // UK travel insurers expect to pay record claims of at least £275 million (US$319 million) due to the coronavirus pandemic, according to first estimates from the Association of British Insurers (ABI). The vast majority of...
