shutdowns News

Some Insurance Regulators Skeptical About Business Interruption Claims

Insurance commissioners in at least seven states have advised business owners not to get their hopes up if pursuing business-interruption claims. Scott Seaman, a partner with the Hinshaw & Culbertson law firm in Chicago, posted a blog on Friday that …

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 …

Consumer Groups Want Premium Offsets as Virus Shutdowns Reduce Miles Driven

The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. …

Business Asks Government to Act to Avert ‘Devastating’ Hit

WASHINGTON — The nation’s largest business organization is asking government leaders to act rapidly to help companies have access to cash and avert a “potentially devastating” hit to the economy as the coronavirus pandemic forces closures and quarantines worldwide. In …

U.S. Orders More Airbus A220 Inspections After Engine Failures

Engines on Airbus SE’s new A220 aircraft must undergo stepped-up inspections for compressor rotor cracks after a third in-flight shutdown, U.S. aviation regulators said, calling the matter an “urgent safety issue.” The Federal Aviation Administration’s updated requirements are scheduled to …