Articles by Noor Zainab Hussain

Insurers Are Creating Products for World Where Pandemics Could Become New Norm

Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap, they offer businesses from …

More Americans Traveling Abroad Won’t Leave Home Without Insurance

In the new reality of COVID-19, some Americans may still be willing to travel abroad – but they’re going to make sure they’re insured up to the hilt. U.S. travel insurers are seeing a surge in demand for highly priced …

Insurers Zurich and Chubb Raise Cover for Canada Oil Sands Pipeline: Filings

Major insurers Zurich and Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian regulatory filings show. The Trans Mountain pipeline, which ships types of crude oil and refined products to British Columbia from …

AIG Takes Hit from Coronavirus in Q1; Sees Industry’s ‘Biggest CAT Loss Ever’ Ahead

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 …

Analysis: Insurers Feel Rising Legal Heat for COVID-19 Business Interruption Exclusions

Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000 pounds ($123,460.00) to cover losses during the coronavirus lockdown. Now he fears for the future as he battles for the …

Travelers Sees Q1 Profit Fall From Storms; It’s Watching COVID-19 Workers’ Comp Claims

Property and casualty insurer Travelers Cos. Inc. reported a 25% drop in quarterly profit on Tuesday and warned that potential claims tied to compensation coverage for furloughed and laid-off employees would hit results for the year. The coronavirus pandemic has …

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 …

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 …