Now that the Center for Disease Control (CDC) has officially issued warnings about travel to China due to the coronavirus, the availability of travel insurance to that area has diminished. While travel to other countries has not been affected as of now, until the virus is cured and contained, things could continue to ratchet down.… Continue reading The Coronavirus Is Now a “Pre-Existing Condition” As Far As Travel Insurers Are Concerned
Tag: business interruption
CDC Warns of “Severe” Disruption to Daily Life in U.S. as Coronavirus Spreads
The U.S. Centers for Disease Control and Prevention is warning Americans to prepare for an outbreak of the coronavirus that’s rocked China and hammered the global economy — saying it’s not a question of “if” but “when” the virus will come to the United States. The warning came as new coronavirus cases spread far beyond… Continue reading CDC Warns of “Severe” Disruption to Daily Life in U.S. as Coronavirus Spreads
Market Panic Over Coronavirus Isn’t Warranted, Says Allianz CEO
Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe’s biggest insurer. Chief Executive Officer Oliver Baete said the firm was more concerned about the safety of its clients than any impact to its business, in an… Continue reading Market Panic Over Coronavirus Isn’t Warranted, Says Allianz CEO
Coronavirus Tests Europe’s Open Borders as Italy Death Toll Rises
Italy reported a sixth death from the coronavirus Monday, as authorities imposed quarantines and other restrictions in the country’s economic heartland to fight what is now the world’s third-biggest national outbreak after China and South Korea. Italian authorities on Monday shut down schools, universities and museums across the country’s north, and banned public and private… Continue reading Coronavirus Tests Europe’s Open Borders as Italy Death Toll Rises
Insuring Against the Business Risks of Coronavirus
The coronavirus epidemic that has afflicted Wuhan, China is having economic ripple effects for the global economy, slowing orders and disrupting supply chains. News reports indicate that the impacts are already being felt in industries as diverse as electronics, auto manufacturing, airlines and passenger cruises. Travel, transportation, hospitality, health care and event planning are only… Continue reading Insuring Against the Business Risks of Coronavirus
Research: Coronavirus Could Infect Two-Thirds of the Globe
As the number of coronavirus cases jumps dramatically in China, a top infectious-disease scientist warns that things could get far worse: Two-thirds of the world’s population could catch it. So says Ira Longini, an adviser to the World Health Organization who tracked studies of the virus’s transmissibility in China. His estimate implies that there could… Continue reading Research: Coronavirus Could Infect Two-Thirds of the Globe
Chubb Launches Unique Non Damage Terrorism Solutions for Businesses
Chubb has launched a unique insurance solution aimed at bridging gaps in traditional terrorism business interruption policies. Chubb’s Non Damage Terrorism Solutions is a single policy offering non damage business interruption, plus employee and customer care assistance as a result of a terrorism loss. In addition, this policy also provides event cancellation coverage following an… Continue reading Chubb Launches Unique Non Damage Terrorism Solutions for Businesses
WHO Declares Health Emergency as Coronavirus Outbreak Spreads
The World Health Organization (WHO) declared a global public health emergency over the spread of the Wuhan coronavirus on Thursday, citing the potential of the virus to spread to countries not prepared to deal with the contagion. Declaring the public health emergency of international concern (PHEIC), WHO director general Tedros Adhanom Ghebreyesus emphasised multiple times… Continue reading WHO Declares Health Emergency as Coronavirus Outbreak Spreads
Coronavirus Triggers Damage Control from Governments, Companies
Government officials and corporate executives around the world are scrambling to limit the damage from the fast-spreading coronavirus as Russia tightened its border with China and the U.S. announced plans for a second evacuation of the Chinese city at the center of the epidemic. In response to the virus, companies including Tesla Inc. and IKEA… Continue reading Coronavirus Triggers Damage Control from Governments, Companies
Many Global Firms, Excluded from Epidemic Insurance, Face Heavy Coronavirus Costs
Many global companies from hotels and airlines to industrial houses are expected to have to foot the bill for disruptions caused by a new coronavirus in China, with epidemics usually excluded from insurance cover, experts said. With 132 deaths in China and new cases being reported around the world, companies are set to face billions… Continue reading Many Global Firms, Excluded from Epidemic Insurance, Face Heavy Coronavirus Costs