Commercial Lines
101 and Climbing: No. of Federal COVID Biz Interruption Lawsuits Expected to Rise
As of last Wednesday, a federal court had received notice that 101 lawsuits have been filed as of seeking coverage from insurers for business interruption losses caused by COVID-19, and plaintiffs ...
WCIRB Lowers Mid-Range Estimate of COVID Workers Comp Costs by $10B
The Workers' Compensation Insurance Rating Bureau of California published estimated costs of allowing state workers to receive benefits for COVID-19 claims without proving virus exposure at work, ...
Court Orders AXA to Pay Restaurant’s COVID-19 Business Interruption Losses
A Paris commercial court ruled that insurer AXA must pay a restaurant owner two months' worth of coronavirus-related revenue losses, the restaurateur's lawyer said on Friday, possibly opening the ...
Climate Change Making Hurricanes Stronger: Study
Hurricanes have grown stronger over the last four decades—and climate change is likely to blame, says a new study from the National Oceanic and Atmospheric Administration and the Cooperative ...
VC Firm Eos Venture Partners Closes InsurTech Investment Fund
Eos Venture Partners said it has closed an $85 million InsurTech investment fund that will tap into new insurance industry needs. To be known as the Strategic Investment Fund, the investment vehicle ...
The Latest Launches From AXA XL and Liberty Mutual/Ironshore
Two units with AXA XL have teamed up to offer a new product for U.S. domiciled multinational businesses. A policy offered by a division of Liberty Mutual's Ironshore has been expanded to offer more ...
Insurance Groups Team Up on Federal ‘Business Continuity Protection Program’
Two property/casualty insurance industry carrier groups and an agents association have unveiled a proposed federal program to replace revenues lost by businesses shut down during pandemics like ...
Generali Sees Net Profit Plunge Due to COVID-19-Related Investment Losses
Generali's first-quarter net profit plunged 84.8 percent to €113 million ($124 million) from €744 million ($815.5 million) reported in Q1 2019 as a result of the impact of the COVID-19 pandemic ...