Global Economy
Swedish Example Inspires UK Insurers in Bid to Avoid Coronavirus Biz Income Payouts
Insurers are set to argue against paying out fully on claims made by businesses forced to shut because of the pandemic, saying that shops in Sweden lost money even without a strict lockdown. The ...
Trade Disruption Possible if Sailors Stranded by COVID Restrictions Refuse to Work
Merchant ship crew members stranded at sea for months due to coronavirus-related travel restrictions could now start refusing to further extend their contracts and stop working, potentially ...
A Former Morgan Stanley Diversity Officer Sues the Bank, Alleging Racial Bias
A former Morgan Stanley diversity officer sued the bank on Tuesday, alleging racial discrimination, retaliation and violation of equal pay laws, according to a court filing. The plaintiff, Marilyn ...
Disgruntled Hiscox Policyholders Launch $50M Arbitration Claim Over COVID Business Interruption Dispute
The law firm that represents the Hiscox Action Group has commenced an arbitration against Hiscox Insurance for non-payment of business interruption insurance totaling £40 million ($50 million). The ...
Fairfax CEO Watsa Snatches Up $149M of ‘Ridiculously Cheap’ Company Shares
Fairfax Financial Holdings Ltd. said Prem Watsa, its chair and CEO, has purchased in the market 482,600 subordinate voting shares of Fairfax for just under $149 million. "At our AGM and on our first ...
Ransomware Attacks Spiked 25 Percent in 2020 First Quarter: Beazley
There was a 25 percent spike in ransomware attacks in the first quarter of 2020 versus the fourth quarter 2019, based on incidents reported to in-house breach response team for insurer Beazley's ...
Amazon Starts Using AI for Warehouse Social Distancing Risk Reduction
Amazon.com Inc on Tuesday launched an artificial intelligence-based tracking system to enforce social distancing at its offices and warehouses to help reduce any risk of contracting the new ...
U.S. Commercial Insurers Can Handle COVID-19 in the Short Term: Fitch Ratings
For U.S. commercial insurers, 2020 was once projected to be an improved, even booming year. Then COVID-19 happened, with the ongoing pandemic increasingly making heavy losses all but certain. Still, ...