Global Economy
Allianz SE Withdraws 2020 Profit Target Over COVID-19 Uncertainties
Allianz SE withdrew its forecast for the year as Europe's biggest insurer struggles with the fallout from the Covid-19 pandemic. Given the economic uncertainty, the board "does not assume that ...
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 & ...
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 ...
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 ...