Industry News
Lloyd’s, AIG, AXA Sued by Native American Casino Owner Over Coronavirus Losses
A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are ...
Insurers Gain Reprieve With Olympics Delay Rather Than Cancellation
Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a ...
Insurers Know They’re Essential, and Coronavirus Business Shutdowns Prove It
Insurance industry professionals might take some pride in knowing that they are considered essential. In states where only essential businesses are allowed to keep operations going during the ...
Fitch Downgrades Outlook for London Insurance Sector Over COVID-19 Impact
Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the ...
French Insurers Will Contribute $216M to Coronavirus Solidarity Fund
French insurance lobby FFA said on Monday insurers would contribute up to 200 million euros ($216 million) to funds set up by the government to help companies deal with a significant drop in activity ...
Ransomware Attacks More Than Doubled in 2019: Beazley
A new report from Beazley Breach Response (BBR) Services reveals that the number of ransomware attack notifications against clients increased by 131 percent in 2019, as sums demanded by surged along ...
APCIA Asks Regulators for More Coordination on COVID Data Calls
Delivering remarks about the property/casualty insurance industry's response to the growing impacts of COVID-19 on policyholders late last week, an industry group executive called on the NAIC to ease ...
Pandemic Bonds Prove Better for Investors Than Stricken Nations
To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of "pandemic bonds" several years ago: the idea was to leverage private capital ...