COVID-19 claims News

Department Store Century 21 Shutting Down, Blames Insurers

Century 21 Stores, an iconic New York off-price department store chain, filed for bankruptcy with plans to shut down, becoming the latest victim of the retail industry carnage that’s accelerated during the pandemic. The retailer will hold going out of …

Panel Rejects Petitions to Consolidate COVID-19 Business-Interruption Claims

A federal court on Wednesday rejected two separate petitions to consolidate lawsuits filed by policyholders against insurers that denied COVID-19 business-interruption claims under a single judge, but said it might approve consolidation of other actions that make similar claims against …

Insurers’ Coronavirus Costs Are Less Than Feared So Far

The coronavirus pandemic dealt a relatively modest $2.5 billion blow to five insurers with large U.S. operations in the second quarter — a cost that was far less than feared and which the industry has absorbed without touching capital, analysts …

Webinar Counters Insurer Warnings About COVID-19 Impact on Work Comp Profits

A well-known workers’ comp number cruncher and an actuary are calling Chicken Little on insurance industry warnings about the cost of COVID-19 claims. Health Strategy Associates owner Joe Paduda and Bickmore Actuarial principal Mark Priven dispute assertions by Moody’s, the …

Viewpoint: How COVID-19 and Recession Are Upending Workers’ Comp

COVID-19 and the onset of a deep global recession are reshaping every corner of workers’ compensation, from legal issues surrounding coverage to the delivery of care to injured workers. Some of the changes can be anticipated based on prior recessions. …