coronavirus pandemic News

California Beset With Fires and Virus Sells $2.4 Billion in Debt

Last September, California entered its bi-annual bond sale flush with a ratings upgrade from Fitch Ratings and a $21 billion budget surplus. A year later, California kicks off its fall debt sales under dramatically different circumstances. Wildfires scorching thousands of …

Directors’ Liability Insurance Rates Surge on Virus Litigation Fears

LONDON — Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters fear the coronavirus pandemic will lead to hefty litigation claims. Premiums for directors’ liability insurance, known as D&O, …

Fashion Company Sues to Close Fifth Avenue Boutique, Blames Pandemic

NEW YORK — Italian fashion company Valentino SpA has sued the landlord of its American flagship store on Manhattan’s Fifth Avenue, seeking to void its lease because the coronavirus pandemic has made keeping the store open impossible. In a complaint …

As S.C. Hospitality Industry Grows, So Do New Coronavirus Numbers

COLUMBIA, S.C. — South Carolina’s hard-hit hospitality industry in May clawed back some of the jobs lost amid the ongoing coronavirus pandemic as businesses across the state continue to reopen — and new COVID-19 case numbers continue to soar. On …

Texas Officials Prepare for Hurricane Season as Pandemic Threat Continues

More hurricanes and tropical storms than usual could make landfall in the United States this summer, forecasters predict. That is sending Texans and officials who are increasingly facing severe weather events scrambling to prepare for another natural disaster while they …

Driving Hasn’t Found Its New Normal Yet

Memorial Day weekend, the typical start of the U.S. summer driving season, has come and gone. Data on just how much driving Americans did is trickling in, and it’s a bit noisy. Apple mobility trends show searches for directions down …

Coronavirus to Spur Largest Single Loss in Insurance History – Chubb CEO

The, will likely spur the largest single loss in insurance industry history, said Evan Greenberg, chief executive officer of Chubb Ltd, during a call with analysts on Wednesday. Chubb, one of the world’s largest insurers, reported its first-quarter financial results …

Chubb CEO Warns Retroactive Measures Would ‘Bankrupt’ Industry

Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses. “The insurance industry is a fundamental part of the economic plumbing of this country,” Greenberg said in …

U.S. Backs Contentious Meat-Plant Change With Supply at Risk

As American meat producers are forced to shutter and slow output at plants amid coronavirus outbreaks, the U.S. government is giving companies a green light to run some facilities at higher speeds — something experts and labor advocates have long …

Railroads Push Against Oil Industry Demands for Storage in Rail Cars

NEW YORK — Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the number of places available to stockpile oil is rapidly dwindling. Oil demand …