International
Argo Group Experiences Both International and U.S. COVID-19 Losses
Argo Group International Holdings expects pretax net catastrophe losses of $29 million during the 2020 first quarter, the bulk of which stems from costs relating to the COVID-19 pandemic. The ...
Coronavirus-Related Event Cancellations Shift Swiss Re’s Q1 to a Loss
Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus outbreak began to bite, it said on Thursday. The Zurich-based company booked a hit of $476 ...
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 ...
Venture Funding Drop Leaves Digital Insurers Vulnerable to Takeover
Some digital insurers will be in serious jeopardy as standalone companies in the months ahead, thanks in part to a big coronavirus crisis-related drop in venture funding. That reality, in turn, could ...
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 ...
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 ...