All business interruption articles – Page 11
-
AnalysisPandemic risk act enters US Congress
Like the Terrorism Risk Insurance Act (TRIA), federal government would serve as a backstop to maintain marketplace stability
-
AnalysisFERMA calls for EU-wide NDBI resilience framework
The framework would respond to a range of catastrophic events, such as pandemic and cyber-attacks, that create severe non-damage business interruption losses
-
AnalysisMost insurers can withstand COVID stress test - AM Best
Insurers are likely to see a significant hit to earnings in 2020, rather than a material decline in risk-adjusted capitalisation
-
AnalysisLloyd’s pegs COVID losses at $4.3 billion
Estimates total industry losses of $203 billion; claims on a par with 9/11 and the combined impact of hurricanes in 2005 and 2017
-
AnalysisDon’t damage trust, Airmic warns insurers
Insurers can “either interpret ambiguous contract wordings with their balance sheet in mind, or they can act as partners to long-standing customers”
-
AnalysisFERMA launches non-damage BI taskforce
Aim is to find a solution that provides cover for non-damage BI for all types of catastrophe risks, not just pandemic
-
AnalysisGVNW calls for pandemic risk pool
Pandemic shows that existing insurance solutions do not offer sufficient protection for the economy, says German risk management association
-
AnalysisFCA seeks “clarity” on business interruption claims
Insurers given up to six months to reassess whether their products are still offering value to customers
-
AnalysisHow to avoid restart risks
Pre-start up safety reviews can help reduce losses when idle facilities are put back into operation - Swiss Re Corporate Solutions
-
AnalysisChubb’s Greenberg warns against retroactive BI payments
Evan Greenberg warns against ”self-inflicted harm from government attempts to force insurers to retroactively pay uncovered business interruption claims”
-
FeaturesSpotlight on business interruption insurance
The COVID-19 outbreak has laid bare the limitations of business interruption insurance, with companies across the globe discovering gaps in coverage
-
AnalysisInsurers ‘looking down the barrel’ at class action
Why the insurance industry is under fire for failing to pay business interruption claims - DMH Stallard
-
AnalysisFERMA: Pandemic risk pools will provide future financial resilience
France’s CCR, Spain’s Consorcio, UK’s Pool Re and Germany’s Extremus scheme offer possible models
-
AnalysisHiscox faces legal action over rejecting coronavirus BI claims
Customers have written to the UK business secretary, Alok Sharma, with their concerns
-
AnalysisCOVID-19: BI policies not fit for purpose - Ludlow
Business interruption needs to cover a broader range of intangible perils, argues Airmic CEO John Ludlow
-
AnalysisWTW launches COVID-19 tracking tool
Willis Towers Watson has updated its Global Peril Diagnostic modelling tool to provide up-to-date information on confirmed global COVID-19 cases alongside clients’ property portfolios.
