Articles by Noor Zainab Hussain and Carolyn Cohn

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 …

Insurers Rush to Exclude Coronavirus Epidemic from Event-Cancellation Protection

Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. The Shanghai Grand Prix …

Many Global Firms Face High Coronavirus Costs Due to Insurance Exclusions

Many global companies from hotels and airlines to industrial houses are expected to have to foot the bill for disruptions caused by a new coronavirus in China, with epidemics usually excluded from insurance cover, experts said. With new cases being …

Many Global Firms Face High Coronavirus Costs Due to Insurance Exclusions

Many global companies from hotels and airlines to industrial houses are expected to have to foot the bill for disruptions caused by a new coronavirus in China, with epidemics usually excluded from insurance cover, experts said. With 132 deaths in …

Forex Firm Travelex Resumes Customer-Facing Operations After Ransomware Attack

More than two weeks after a crippling ransomware attack forced Travelex staff to use pen and paper to calculate foreign currency exchanges, the company said the first of its customer-facing systems in Britain was up and running again. The cyber …

Update: U.K.-Based Foreign Exchange Firm, Travelex, Crippled by Ransomware Attack

Staff at foreign exchange firm Travelex are using pen and paper to serve thousands of customers after the company said cyber hackers were holding its systems to ransom, leading to a global blackout on its online currency exchange services. The …

Reinsurers Pressure Life Insurers Over Vaping Health Risks

Global reinsurers are stepping up their warnings to life insurer clients about the potential risks of vaping, putting pressure on underwriters to charge certain vapers higher rates than smokers, or even exclude them altogether. U.S. authorities said last month that …

Insurance Cost Strategy Key to Lyft’s Path to Profitability

Ride-hailing company Lyft Inc. on Wednesday said higher-than-expected third-quarter revenues and an improved outlook showed it was well on its way to profitability by the end of 2021. As pressure to become profitable mounts in the ride-hailing industry, Lyft executives …

Space Insurance Premiums Could Double After European Vega Rocket Crash

Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …