COVID-19 is proving to be a major challenge for insurers, especially those that provide cover for canceled events such as sports matches and concerts. Disputes over coverage have led some policyholders to take legal action, with AXA recently losing a lawsuit against five restaurant operators. The insurer said it will appeal the ruling.

U.S. Treasury warns cyber insurers payments to hackers may violate sanctions

Oct 2, 2020

The average ransomware payment jumped by 60% to $178,254 between the first and second quarters, according to Coveware a firm that helps negotiate and facilitate cyber ransom payments.

Sophisticated insurers and financial institutions are already aware of the sanctions concern, said Sumon Dantiki, a King & Spalding LLC lawyer who advises on national security and cyber matters.

France needs new pandemic business insurance law – minister

Oct 2, 2020

“The state is not going to pick up the tab for businesses’ operating losses each time there’s a new pandemic,” Le Maire said in an online interview session with Le Monde newspaper.

France urges parts review after Airbus A380 engine blowout

Oct 2, 2020

France’s BEA agency made the recommendation in a final report into the accident in which an Air France jet carrying more than 500 passengers lost the front section of one of its four engines while flying over Greenland, before landing safely in Canada.

The move follows a perilous investigation involving a 21-month international aerial and ground search across the ice sheet to find a crucial titanium alloy fragment, buried 3 metres below the surface and just a metre away from a hidden crevasse.

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