Travelers, Insured Law Firm Spar Over Civil Authority Business Income Loss Claim April 21, 2020 Travelers Cos. has gone to federal court in California seeking a declaratory judgment that it is not obligated to pay...
Lloyd’s Gathers Business Interruption Data for UK Regulator April 20, 2020 Lloyd’s of London is collating details of insurers’ business interruption coverage for the Prudential Regulation Authority and is in discussions...
Chubb CEO Greenberg Warns Retroactive Measures Would ‘Bankrupt’ Insurance Industry April 16, 2020 By Katherine Chiglinsky Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some...
UK Insurers, Banks Are Weathering Effects on Capital of COVID-19 Crisis: BoE’s Woods April 16, 2020 By Huw Jones and David Milliken Britain’s banks have enough funds to keep lending to the economy even under the deep recession scenario outlined by a...
Hiscox Says Its Business Interruption Exposure Is Limited in Europe, U.S. April 16, 2020 Hiscox’s core policy wordings do not provide cover for business interruption as a result of the general lockdown measures taken...
Trump Tells Insurers to Pay Virus Claims If Pandemics Not Excluded April 14, 2020 By Jim Sams President Donald Trump has staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics,...
Litigation Builds Against Insurers Over Coronavirus Business Interruption April 8, 2020 By Jef Feeley and Katherine Chiglinsky Barbara Snowden dreamed of opening a wig shop to help women who’d lost their hair during chemotherapy feel better as...
Canadian Insurers Hit with Lawsuit on Refusal to Pay COVID-19 Biz Income Claims April 6, 2020 By L.S. Howard A class action lawsuit has been filed against Canada’s top indemnity insurers for breach of contract in their refusal to...
This Insurance Would Have Helped in Coronavirus Crisis But Nobody Bought It April 3, 2020 By Russ Banham Like everyone else, Peter Lacovara is coping with COVID-19, working at home to limit contagion to the coronavirus and stay...
How Social Inflation May Affect Coronavirus Business Interruption Losses April 2, 2020 COVID-19 could produce a big increase in social inflation, according to A.M. Best. The reason: expectations that businesses will sue...