pandemic News

COVID-19 Vaccination Rates of Seafarers a Threat to Marine Insurers

COVID-19 once again poses an intensifying threat to supply chain resilience. Marine reinsurers and insurers, in particular, should stay vigilant as to the potential implications for the risk environment. Low rates of vaccination, the continued problem of crews stranded at …

Global Insurance Recovery Will Be Faster, Stronger Than in 2008–Swiss Re

NEW YORK — The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s …

Viewpoint: A Resurgence in Catastrophes and COVID-19 Clash

Hurricane season has arrived. Although we’re still ahead of the historical September peak, PCS has already recorded two tropical events making landfall in the United States and notes outside forecasts of another busy year. Further, hot and dry conditions in …

WCRI Study Shows No Treatment Delays Caused by COVID, but Some Care Avoided

COVID-19 did not delay medical treatment for workers’ compensation claimants, but did decrease the amount of emergency care and other services provided to injured workers, a study released Thursday by the Workers’ Compensation Institute concludes. Research by WCRI economist Olesya …

US Senate Panel Hears From Chubb, Others on Insuring Pandemic Risk

NEW YORK — New Jersey business owner Adenah Bayoh told a U.S. Senate committee hearing on Wednesday she paid about $275,000 a year to insure her group of restaurants, only to discover the limits of her policy during the coronavirus …

UK Government Set for Leading Role in Insuring Live Entertainment

LONDON — The British government is expected to announce an insurance scheme in the coming weeks for live events, including festivals, theater and sports, to allow them to go ahead despite the pandemic, insurance industry sources said. Insurers have since …

Viewpoint: How Zoom and the ‘Quarantine 15’ Created a Perfect Storm for Soft Tissue Injuries

In a normal year, work-related musculoskeletal disorders (MSDs), also known as soft tissue injuries, account for roughly 34% of lost work-days in the U.S. and one-third of the dollars spent on workers compensation claims. But this was anything but a …

N.H. Hotel Group Chalks Rare Win in Pandemic-Related Business Interruption Lawsuit

CONCORD, N.H. (AP) — A judge has ruled in favor of a group of hotels whose owners sued their insurance carriers over lost business during the coronavirus pandemic. Businessman Mark Stebbins of Schleicher & Stebbins Hotels, LLC, one of the …

Regulators Withdraw Controversial California Work Mask Rules

SACRAMENTO, Calif. (AP) — California’s workplace regulators have withdrawn a controversial pending mask regulation while they consider a rule that more closely aligns with Gov. Gavin Newsom’s promise that the state will fully reopen from the pandemic on Tuesday. The …

‘Zombie’ Companies Likely to Keep Commercial Insurance Rates Rising

NEW YORK — The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely …