Business interruption

The latest estimate is marginally below a previously disclosed $75mn UK BI claims cap.

The Swiss carrier says any increase in P&C claims arising from the ruling won’t materially impact its earlier assessment of $750mn in Covid-19 claims.

The insurer could have total gross losses of more than EUR500mn, according to a French publication.

The estimate fell below the midpoint of Hiscox's prior modelled BI loss range.

Reinsurance recoveries and a drop in overall claims will offset the BI loss hike.

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.

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

The retro vehicle has only picked up a small share so far but this will grow.