Business interruption
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Ohio and Massachusetts lawmakers propose re-writing business interruption policies to include coronavirus losses.
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The backstop is just one of many ideas being floated, as governments and insurers look to improve preparedness.
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The lawsuit will be a test case for property insurers holding that business interruption policies do not cover pandemic shutdowns.
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The UK government agreed a pact with insurers, while the New Jersey State Assembly pulled a coronavirus-related bill.
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The World Bank’s pandemic bond is expected to partially pay out as deaths surpass trigger points. -
The UK terrorism insurance scheme looks to add additional layers to its main 1 March retrocession renewal.
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The manager bought back and cancelled 900,000 ordinary shares worth $180,000 at the end of last week, as the process of winding up the business continues.
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The Reinsurance Opportunities Fund also repurchased $43.4mn of shares in September.
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Typhoon Faxai losses are unlikely to have a significant impact on the ILS markets, based on current industry estimates.
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The risk modelling firm has released the highest estimate for industry losses so far and the top end of its prediction could hit some ILWs.
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Widespread data theft from an email provider ranked as the most likely significant loss scenario in a report by the broker and analytics platform.
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Chris Beazley’s role has been expanded to include head of reinsurance for MS Amlin after his departure.
