Claims / Legal
AIG President Zaffino on Surviving COVID-19: Ongoing Adaptation Is Key
If there's one thing that AIG's top leaders have tried to get across, it is this: COVID-19 is like nothing else the industry has faced, it will impact nearly every part of what insurers do in the ...
German Judge Challenges VW’s Defense in Diesel Damages Landmark Case
A German federal court judge cast doubt on Volkswagen's reasoning after the carmaker urged the court to dismiss a claim for damages brought by an owner of a diesel powered VW Sharan family van. ...
Neptune Partnerships Help Double Its Lloyd’s Capacity
Neptune Flood, an online flood insurance company, has entered into strategic underwriting partnerships that double its capacity at Lloyd's. Neptune, a Lloyd's Coverholder since 2017, is now working ...
COVID-19 Pushes AIG’s P/C Insurance Business Into the Red
After years of losses and just 12 months of underwriting income, American International Group's property/casualty business has lost money again. For that, COVID-19 is to blame. AIG said the P/C arm ...
Insurers Struggle to Accurately Predict Upcoming Coronavirus Costs
Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive ...
Worst-Case P/C Coronavirus Losses in Key Lines Could Hit $80B: Willis Towers Watson
Key property/casualty insurance lines could face COVID-19 insured losses reaching a combined $80 billion in a worst-case scenario modeled by Willis Towers Watson as part of a new report. U.S. and ...
Tesla Founder Musk Cancels Company’s D&O Cover, Pledging to Replace With ‘Personal Coverage’
Tesla founder and CEO Elon Musk is getting into the insurance business again, sort of. Musk has cancelled his company's directors and officers insurance (D&O), replacing it with a promise to ...
Coronavirus-Related Event Cancellations Shift Swiss Re’s Q1 to a Loss
Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus outbreak began to bite, it said on Thursday. The Zurich-based company booked a hit of $476 ...