business-interruption claim News

Legislation to Force Insurers to Pay COVID-19 Claims Stalls as Virus Rages

California legislation that would have forced insurers to pay more coronavirus business-interruption claims was put on hold last week when state lawmakers decided not to return from their summer recess because of a resurgence of the disease. Assembly Bill 1552 …

Pandemic-Proofing: Insurance May Never Be the Same Again

Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap, they offer businesses from …

Chubb Urges U.S. and Insurers to Team Up for Future Pandemic Costs

Chubb Ltd. proposed that insurers and the U.S. government work together to cover future business-interruption losses from pandemics, as the industry faces a flurry of lawsuits over costs related to coronavirus-related shutdowns. Chubb, the large global insurer led by Evan …

Minor League Baseball Teams Sue Insurers for Pandemic Business Losses

Fifteen U.S. minor league baseball teams on Tuesday sued several insurers for not paying out claims for business interruption losses after the cancellation of “much or all” of the league’s season as a result of the coronavirus pandemic, according to …

More States Introduce COVID-19 Business-Interruption Bills

New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that hasn’t stopped some states from rolling …