Coronavirus News
Hurt by COVID 19, W.R. Berkley’s Profit Plunges
Larger investment losses and COVID-19 took a substantial bite out of W.R. Berkley's 2019 second-quarter net income, but the specialty insurer and reinsurer still stayed in the black overall. Net ...
Chubb Unveils Public-Private Program for Pandemic Biz Interruption
Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses ...
Is COVID Physical Damage? Plaintiffs Relying on Bacteria, Ammonia and Cat Urine Rulings
In 1963, congregants noticed a strange odor in the basement of the First Presbyterian Church in Littleton, Colo. Some suspected a gas leak or maybe spilled stationary ink. Others thought the smell ...
The Risk of ‘Take-Home’ COVID-19 and the ‘Next Asbestos’
Estimates of the size of COVID-19's impact on the insurance industry vary widely, but some companies (including Chubb and Willis Re) have suggested that, considering both asset and liability losses, ...
1 in 4 U.S. COVID-19 Deaths Are Coming From Nursing Home Residents
Nursing home residents account for nearly 1 in 10 of all the coronavirus cases in the United States and more than a quarter of the deaths, according to an Associated Press analysis of government data ...
California Compels Insurers to Reduce Workers Comp Premiums
California on Wednesday announced the first regulation requiring insurance companies to reduce premiums paid by employers for U.S. workers' compensation insurance, citing lower risk factors as ...
Cyber Security, Intergenerational Imbalances Among Swiss Re’s New Emerging Risks to Watch
Pandemic threats were once on the list of potential emerging risks facing the insurance industry and society. Now that this risk has materialized with the COVID-19 crisis, it is perhaps a good time ...
U.S. Carriers Beat Back Coronavirus Claims With Massive Cost Estimates
U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has ...