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: coronavirus
Big Tech Could Emerge from Coronavirus Crisis Stronger than Ever
While the rest of the economy is tanking from the crippling impact of the coronavirus, business at the biggest technology companies is holding steady — even thriving. Amazon said it was hiring 100,000 warehouse workers to meet surging demand. Mark Zuckerberg, Facebook’s chief executive, said traffic for video calling and messaging had exploded. Microsoft said… Continue reading Big Tech Could Emerge from Coronavirus Crisis Stronger than Ever
Why the Push-Back on Business Interruption Insurance?
Widespread Interruptions As the national effort ramps up to arrest the spread of COVID-19, the infamous coronavirus, many small businesses are facing tough times. The government has recommended restricting gatherings to fewer than 10 people and urged restaurants and the like not to serve food on the premises, but only to do so through take-out… Continue reading Why the Push-Back on Business Interruption Insurance?
Japan, IOC Agree to Postpone 2020 Tokyo Olympics by About One Year
Japanese Prime Minister Shinzo Abe said he agreed with the International Olympic Committee’s president that the Summer Olympics previously scheduled to start in Tokyo on July 24, 2020, would be delayed by around one year. Mr. Abe spoke by phone Tuesday with IOC President Thomas Bach. Citing the spreading coronavirus pandemic, the Japanese leader said… Continue reading Japan, IOC Agree to Postpone 2020 Tokyo Olympics by About One Year
Target and Walmart Aren’t Protecting Staff Amid Pandemic, Workers Say
Management at retail giants Walmart and Target are not doing enough to protect staff working through the coronavirus crisis, according to some workers. As school districts, restaurants and several businesses have closed around the US due to the coronavirus outbreak, large corporate retail stores like Target and Walmart have remained open, but with reduced operating… Continue reading Target and Walmart Aren’t Protecting Staff Amid Pandemic, Workers Say
Fitch Ratings Revises London Market Insurance Sector Outlook to Negative
Fitch Ratings said the move reflected the “disruption and the related impacts on the credit quality of London Market insurers” caused by the outbreak Fitch Ratings has revised its outlook for the underlying fundamentals of the London Market to negative as a result of the ongoing coronavirus pandemic that has killed thousands across the globe.… Continue reading Fitch Ratings Revises London Market Insurance Sector Outlook to Negative
Fitch Ratings’ Outlook on Fundamentals of U.S. P/C Insurance Sector Revised to Negative
Fitch Ratings has revised its outlook for the underlying fundamentals of the U.S. property/casualty (P/C) insurance sector to negative from stable (sector outlook). The sector outlook revision is due to increased concerns over COVID-19, the disease caused by the coronavirus, and related impacts on near term performance and the credit quality of insurers. Fitch’s outlook… Continue reading Fitch Ratings’ Outlook on Fundamentals of U.S. P/C Insurance Sector Revised to Negative
Coronavirus Hits Weddings, Spurs Fights Over Insurance Policies
Weddings are happy events, now hard to find in the age of the coronavirus. They’re being canceled, which means lost work for florists, dressmakers, organists and bands, but not for Eden Denevan, an enterprising wedding invitation designer now offering this suggested wording for couples: “In light of the current global pandemic and social distancing recommendations,… Continue reading Coronavirus Hits Weddings, Spurs Fights Over Insurance Policies
Low Cargo Volumes Drive TwoPort Miami Terminals to Plan Temporary Closures
Two PortMiami terminals have scheduled temporary closures because of low import container volume. The South Florida Container Terminal (SFCT) gate at PortMiami will be closed Friday. “We have only had one blanked sailing and the closure is only due to low import volume in the terminal,” Mark J. Baker, the terminal director, said in an… Continue reading Low Cargo Volumes Drive TwoPort Miami Terminals to Plan Temporary Closures
Virus Strikes Brexit With Both Sides’ Top Officials in Isolation
The coronavirus has struck at the heart of the post-Brexit trade talks between Britain and the European Union, with both sides’ top negotiators now in isolation. David Frost, the U.K.’s chief negotiator, is isolating himself after showing symptoms of the virus, a Downing Street spokesman said on Friday. On Thursday, Michel Barnier, Frost’s EU counterpart,… Continue reading Virus Strikes Brexit With Both Sides’ Top Officials in Isolation