Articles by Suzanne Barlyn and Alwyn Scott

Insurers, Covid-Hit Businesses May Be at Odds Over Interruption Claims for Disasters

As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged or evacuated because of natural catastrophes …

Insurers Exploring ‘New World’ of Police Officer Professional Liability

U.S. insurers and brokers are starting to craft professional liability coverage for police officers, spurred on by signs that policymakers in some cities and states want to use a financial stick to curb police misconduct. They see a potential market …

Some Question Insurers’ Estimates of Coronavirus Business Interruption Claims

U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 …

AIG Shareholders Approve Insurer’s Executive Compensation Plan

Shareholders of American International Group Inc. strengthened their support for the U.S. insurance company’s executive compensation plan after the board made changes to its pay packages, according to vote totals AIG released on Thursday. Nearly 94% of the shareholder votes …

Insurers’ Loss Estimates Linked to Coronavirus Range Widely: Analysis

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 …

GE Investors Handed Setback in Investor Lawsuit Over Insurance Liabilities

A federal judge in Manhattan on Thursday partially dismissed a lawsuit by investors in General Electric Co. that accused the company of concealing $24 billion in insurance liabilities and using fraudulent accounting to prop up its power business. Judge Jesse …

Shareholder Suit Alleges GE Hid Insurance Liabilities, SEC Probe

General Electric Co. was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars. The complaint filed by …

Washington-based Spirit Aerosystems Hit with Worker Discrimination Suit

Employees laid off by Spirit AeroSystems Holdings Inc. in 2013 filed a lawsuit earlier this month accusing the aircraft parts supplier of singling them out by age and disability. Twenty-four plaintiffs were named and another 150 may join the case, …

Washington-based Spirit Aerosystems Hit with Worker Discrimination Suit

Employees laid off by Spirit AeroSystems Holdings Inc. in 2013 filed a lawsuit on Monday accusing the aircraft parts supplier of singling them out by age and disability. Twenty-four plaintiffs were named and another 150 may join the case, attorney …

U.S. Issues Draft Rules on Commercial Use of Drones; Insurers Welcome

The U.S. aviation regulator proposed rules on Sunday for commercial drone flights that would lift some restrictions but would still bar activities such as the delivery of packages and inspection of pipelines that have been eyed by companies as a …