Business interruption

New capital could flow into the ILS sector if rates increase sufficiently, Fitch officials said.

It made a 4.4% gain over the past year from its insurance holdings, and has made 7.9% per annum since inception.

A New South Wales Supreme Court judge gives the go-ahead for the hearing to start on 2 October.

Nearly 1,000 insurance disputes over pandemic coverage were filed by the end of July, according to data highlighted by sister title Inside P&C.

The research firm says the pandemic will become the leading example of “silent” coverage uncertainty.

Earlier this month, we recapped some of the issues causing rising tensions in the retro market, where providers are pushing for release of capital trapped in connection to Covid-19 claims.

State Farm policies in question contain a virus exclusion, protecting the insurer from liability.

Accounting for expected H2 cat losses, the $500mn cover is only $20mn away from triggering.

The Australian carrier is also drawing down on other aggregate covers.

Lawyers are diligent in finding avenues to bring litigation against insurers, FedNat’s CEO Michael Braun told analysts on Thursday.

The UK insurer has exposure to BI losses through a Canadian dentistry book.

Axa estimated its total 2020 impact from Covid-19 for the group at EUR1.5bn, which it booked in the first half.