Commercial Lines
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 ...
Several Insurance Commissioners Wary of Business Interruption COVID-19 Claims
Insurance commissioners in at least seven states have advised business owners not to get their hopes up if pursuing business interruption claims. Scott Seaman, a partner with the Hinshaw & ...
The Hartford Watches Closely for COVID-19 Financial Impact After Relatively Sane Q1
The Hartford's 2020 first-quarter numbers are yet another example of the coronavirus pandemic not yet affecting underwriting results in a major way. But net income took a big hit. First-quarter net ...
Rough Sailing Ahead for Cruise Ship Passengers Seeking COVID-19 Class Action Suits
After two passengers on their luxury cruise tested positive for Covid-19 in March, Emilio and Barbara Hernandez were so frantic to get off the ship, they wrote a note to the captain. The Costa ...
AXA, Zurich, QBE Among Carriers Facing Claim Threat From UK Hospitality Sector
Top insurers such as AXA , RSA, QBE and Zurich face a potential multi-million pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption ...
Hiscox Policyholders Will Sue Over COVID-19 Business Interruption Exclusions
Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox's pandemic exclusions to its commercial business interruption policies. More than 300 UK policyholders have joined the ...
S&P Predicts Failure for COVID-19 Business Interruption Retroactive Coverage Efforts
Standard & Poor's said it does not expect state legislators to succeed in their efforts to retroactively expand business interruption insurance coverage for COVID-19-related losses. The reason: ...
Pandemic to Change Future of Workers Comp, Personal Auto: Forrester
The global COVID-19 pandemic "will change the insurance industry irrevocably over the coming decade," says a new report from Forrester, with some of the biggest impacts hitting workers compensation ...