Global Economy
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 ...
AXIS Coronavirus Loss Estimates Based on Quarantines Lasting Until July 31
AXIS Capital President and CEO Albert Benchimol said that most of the company's insurance policies don't cover coronavirus pandemic-related claims. There are some that do, however, and those costs ...
Workplaces Try Avoiding COVID-19 Liabilities With AI Cameras to Track Social Distancing
Stores and workplaces eager to avoid spreading the novel coronavirus are equipping existing security cameras with artificial intelligence software that can track compliance with health guidelines ...
Aon’s C-Level Execs, Most Employees Hit With Pay Cuts Due to Coronavirus Uncertainties
Aon announced it will temporarily cut the pay of the company's named executive officers by 50 percent in response to the COVID-19 crisis. In addition, 70 percent of its global workforce will see a 20 ...
Italy’s Generali Asserts Ability to Remain Independent, Even With COVID-19 Uncertainties
Italy's top insurer, Assicurazioni Generali, said on Saturday it was confident of being able to rebuff a potential takeover bid, thanks to a "solid" group of core domestic shareholders and a strong ...
States Increasingly Expand Workers Comp Eligibility in COVID-19 Cases
Sympathetic state lawmakers and regulators in states both red and blue promise to make COVID-19 a major cost driver for workers' compensation insurers. The governors of Kentucky, Arkansas, North ...
Reinsurance Rendez-Vous 2020 Canceled Due to Coronavirus Pandemic
The 64th Rendez-Vous de Septembre (RVS) in Monaco, which was scheduled to be held Sept. 12-17, has been cancelled due to the uncertainties linked to the coronavirus pandemic. For 63 years, the RVS ...
Everest Re Expects $150M in Q1 Pretax Losses From Coronavirus-Related Claims
Everest Re Group estimated pre-tax losses of $150 million during the first quarter from claims related to the coronavirus pandemic. The company expects that the majority of pandemic losses will come ...