Tag: coronavirus business interruption

March 5, 2021

U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources say. New policies and renewals now define terms like […]

November 30, 2020

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since Covid-19 sparked government-ordered shutdowns in March, judges have dismissed more […]

July 30, 2020

Insurers in the European Union are confronted with risks on several fronts that are intensified by the COVID-19 pandemic, and could face lengthy legal battles from claims relating to lockdowns, the bloc’s insurance watchdog said on Thursday. Insurers and reinsurers […]

May 11, 2020

National governments must help provide insurance cover for future lockdowns, the industry’s European Union regulator said on Monday, as the private sector cannot afford to provide such broad coverage on its own. Countries have introduced lockdowns to fight the coronavirus […]

May 7, 2020

Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators said. Disputes over cover for businesses struggling to stay afloat during coronavirus lockdowns have erupted in countries […]

April 30, 2020

Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential losses. The holding company for specialty insurance and reinsurance, ILS […]