Industry News
A Double-Whammy for Travelers When Carriers Refuse Virus Payouts
Purchasers of travel insurance are finding their policies all but worthless as the global pandemic forces them to change their plans, or worse, leaves them sick at sea. Most travel insurance ...
Lawsuit Seeks COVID-19 Business Interruption Claims Payments From Canadian Insurers
A class action lawsuit has been filed against Canada's top indemnity insurers for breach of contract in their refusal to pay business interruption claims from the COVID-19 crisis. "Indemnity insurers ...
Markel, Citing Coronavirus Concerns, Moves Its 2020 Annual Meeting to the Internet
Markel Corporation will be holding its 2020 annual meeting virtually, with only company officers and other personnel in physical attendance at the session. The specialty insurer said it made the ...
Lloyd’s Placed on Rating Watch Negative by Fitch Due to COVID-19 Uncertainty
Fitch Ratings has placed Lloyd's of London's 'AA-' Insurer Financial Strength (IFS) ratings on rating watch negative, on the uncertainty and increased risk to Lloyd's earnings and underwriting ...
Executives On The Move at The Hanover, Everest Re and Sayata Labs
A Zurich North America veteran joined The Hanover Insurance Group as vice president and general counsel. Everest Re Group Ltd. hired a Hiscox veteran as chief financial officer of Everest Insurance. ...
New InsurTech Venture Capital Financings Dropped by Half in Q1
Already, the coronavirus pandemic has taken a big bite out of InsurTech venture capital financings. Venture capital investments in the sector reached $760 million in the 2020 first quarter, about 50 ...
Top Tech Mistakes for Insurers; Fixing What’s Not Broken Leads the List
Property/casualty insurance carriers embarking on massive projects because "the system is too old" are making one of the most common technology mistakes in the industry, according to an executive of ...
Liability Worries May Leave Many U.S. Banks Sitting Out of Small-Biz Pandemic Rescue Plan
Thousands of U.S. banks, including some of the country's largest lenders, have said they may not participate in the federal government's small-business rescue program due to concerns about taking on ...