A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among the defendants named in the lawsuit filed by the Chicksaw Nation in Oklahoma state court are several underwriters for… Continue reading Native American Casino Owner Sues Lloyd’s, AIG Over Coronavirus Losses
Tag: business interruption insurance
Almost No Company Is Safe from Coronavirus Impact
Companies have endured financial meltdowns, civil wars and natural disasters. But nothing in modern memory has dented both demand and supply so quickly for so many industries as the novel coronavirus. The virus, which has infected more than 85,000 people, has swept through Asia and Europe, disrupted global travel and hobbled supply chains that churn… Continue reading Almost No Company Is Safe from Coronavirus Impact
Coronavirus Hits Come Fast for Aviation Sector
The airline industry is becoming a leading indicator of the global economic contraction now projected for the first quarter, and possibly for the full year, as the new coronavirus escapes containment efforts in China. German companies seem particularly aggressive in trying to cut expenses in line with declining revenue trends as passenger demand dries up.… Continue reading Coronavirus Hits Come Fast for Aviation Sector
California Bill Would Make Utilities Pay Some Blackout Costs
Californians left in the dark by electric companies that shut off their power to prevent wildfires could get paid for things such as lost wages or spoiled food under a bill that advanced Thursday in the Legislature. In the state plagued by catastrophic blazes started by strong winds knocking down power lines, large investor-owned utilities… Continue reading California Bill Would Make Utilities Pay Some Blackout Costs
Zurich Insurance Partnership Tackles Supply Chain Risk
Insurance firm Zurich is introducing a new supply chain risk management service in conjunction with riskmethods, reports Global Banking and Finance Review. Through the partnership, Zurich Insurance Group will provide corporate customers with riskmethods’ supply chain risk identification and management technologies. The company provides risk mitigation tools for vendor, cyber, natural disaster and human capital-related… Continue reading Zurich Insurance Partnership Tackles Supply Chain Risk
2019: Cyber Joins Business Interruption As A Leading Global Risk for Companies for First Time
In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union and other countries, cyber risk is now a core concern for businesses in 2019 and beyond. According to the Allianz Risk Barometer 2019, Cyber incidents (37% of responses) are neck-and-neck… Continue reading 2019: Cyber Joins Business Interruption As A Leading Global Risk for Companies for First Time
Aon Launches Non-Damage Business Interruption Coverage
Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, today announces the launch of a new Non-Damage Business Interruption (NDBI) cover that is designed to protect the income streams of the growing number of companies with high levels of intangible assets. NDBI policies protect companies’ revenues… Continue reading Aon Launches Non-Damage Business Interruption Coverage