Articles by Carolyn Cohn

UK Insurers in Talks with Government About Creating Trade Credit Backstop

British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …

Many Insurance Policies Bought by Small UK Firms Don’t Cover Pandemic: Regulator

Most insurance policies bought by smaller UK companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on Wednesday, as insurers come under fire for being slow to …

Insurers Worry About D&O Claims Against Executives From Coronavirus

Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses, industry sources say. Two cases have been filed in the United States in …

How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London

Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tools of …

Olympics’ Postponement Likely to Cost Insurers Much Less than Cancellation

Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say. The Tokyo Olympics were postponed …

After Australia’s 2019 Floods, Insurers Begin to Bail, Banks Keep Lending

Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …

Insurers Face Big Investment Losses, Trade Credit Claims from Coronavirus Crisis

Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from …

European Banks, Lloyd’s of London Develop Coronavirus Contingency Plans

Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak. For many companies it will be a first-time experiment …

Parametric Insurance Could Offer Hotels Relief from Coronavirus Cancellations

Organizers of events called off because of the coronavirus are likely to miss out on insurance payouts because typical policies do not cover epidemic outbreaks. Hotels hit by cancellations may fare better. That is because a new type of insurance …

Global Insurers Face Hefty Claims If Coronavirus Forces Olympics Cancellation

Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of dollars. Japan has more than 200 cases of …