Hiscox said it expected to pay up to $175 million to settle claims if disruption from the COVID-19 pandemic that has put billions of people on lockdown lasts more than six months.That sum would decrease to up to $150 million if the disruption lasted six months or less.

Global reinsurer capital rose by 7% to $625 billion in 2019,Net income of 23 large global reinsurers almost doubles to $18.2 billion

Apr 23, 2020

Mike Van Slooten, Head of Business Intelligence for Reinsurance Solutions, and author of the ARA report, said: “Reinsurers faced a challenging operating environment in 2019. On the underwriting side, carriers were confronted with higher retrocessional costs, adverse development of recent catastrophe losses, and deteriorating trends in US casualty business. At the same time, interest rates in the key US and UK markets went into reverse, as policymakers sought to address worsening prospects for global economic growth.”

Car insurers should repay premiums,British lawmakers say

Apr 23, 2020

Major U.S. motor insurers are offering credit to auto and motorcycle policy holders following a decline in driving, as most Americans stay at home under widespread orders to help contain the spread of the novel coronavirus.

US State files lawsuit against China on coronavirus handling

Apr 22, 2020

The lawsuit alleges that during the critical weeks of the initial outbreak, the Chinese authorities deceived the public, suppressed crucial information, arrested whistleblowers, denied human-to-human transmission in the face of mounting evidence, destroyed critical medical research, permitted millions of people to be exposed to the virus, and even hoarded personal protective equipment (PPE, causing a global pandemic that was unnecessary and preventable.

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