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New Jersey Bill Requiring Insurers Explain BI Policies Lands on Governor’s Desk

Apr 1 2021 // A New Jersey bill that requires insurers issuing business interruption policies in the state provide policyholders with a summary of coverage for loss of use and occupancy of a commercial property has passed the state...

Report: Texas Work Comp Insurers See More than 44K COVID-19 Claims by Mid-February

Apr 1 2021 // An updated report on workers’ compensation claims in Texas related to COVID-19 shows that as of Feb, 14, 2021, insurance carriers reported more than 44,000 COVID-19 claims and 200 fatalities to the state’s...

Former USPS Carrier Sentenced in Maryland for Working While Receiving Disability Comp

Apr 1 2021 // A former U.S. Postal Service (USPS) carrier has been sentenced on a federal charge in Maryland for making false statements to obtain disability compensation. U.S. District Judge Paula Xinis sentenced Ronald S. Repass, age...

Insurers Have Not Yet Embraced Cryptocurrency Craze Despite Demand

Apr 1 2021 // If Elon Musk’s Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck. Insurers have yet to...

London Market Insurers’ 2020 Profits Canceled by COVID-19 but Rates Are Rising

Apr 1 2021 // Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event...

SPAC Mania Anxiety Grows; Bankers, Regulators, Insurers Try to Keep Pace

Apr 1 2021 // Anxiety is growing that the wellspring of special-purpose acquisition companies, a 2020s echo of the dot-com mania of the 1990s, is bumping up against the limits of both Wall Street and Washington. The pipeline of SPACs...

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