Hiscox Action Group Launches £40M Arbitration Claim for COVID Biz Interruption Dispute June 15, 2020 By L.S. Howard The law firm that represents the Hiscox Action Group has commenced an arbitration against Hiscox Insurance for non-payment of business...
South Africa Regulator Probes Insurance Contracts Over Unpaid COVID-19 BI Claims June 12, 2020 By Roxanne Henderson A South African regulator is studying insurance contracts after customers complained that claims related to the coronavirus were unfairly rejected....
Some Question Insurers’ Estimates of Coronavirus Business Interruption Claims June 12, 2020 By Alwyn Scott and Suzanne Barlyn U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses...
The BIG Idea for Business Interruption Coverage: What It Is and Isn’t June 10, 2020 By Susanne Sclafane Good faith coverage disputes over pandemic-related business interruption coverage don’t have to be fought out in courts, and retroactive rewrites...
S&P Pegs Coronavirus Losses at $15-$30B. Chief Risk Officers Think That’s Low. June 9, 2020 By Susanne Sclafane Analysts for Standard & Poor’s Global Ratings shared a view that U.S. underwriting losses from COVID-19 would fall in the...
AXA Identifies 1,700 Restaurant Contracts with Unclear Terms on Pandemic Payouts June 4, 2020 French insurer AXA has identified 1,700 contracts signed with restaurant owners in France where the terms are not clear as...
British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover June 1, 2020 By Huw Jones and Carolyn Cohn Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should...
EU Urged to Create Insurance Catastrophe Backstop for Pandemics, Huge Cyber Attacks May 26, 2020 A European Union framework is needed to provide insurance cover for catastrophes such as pandemics and huge cyber attacks, the...
Update: AXA to Pay Business Interruption Claims to Restaurants After Court Ruling May 26, 2020 By Maya Nikolaeva and Sudip Kar-Gupta A Paris court ruled last week that AXA should pay a restaurant owner two months of revenue losses caused by...
French Court Orders AXA to Pay Restaurant’s COVID-19 Business Interruption Losses; AXA Vows to Appeal May 22, 2020 By Elizabeth Pineau and Maya Nikolaeva A Paris court ruled that insurer AXA must pay a restaurant owner two months’ worth of coronavirus-related revenue losses, the...