You might be going out of your mind staying at home during the pandemic. But that’s proving to be a benefit for insurers. A number of property-and-casualty insurers have noted that the frequency of many types of claims, like auto accidents or workplace injuries, is sharply declining amid lockdowns across the country. This is emerging… Continue reading Insurers Benefitting from Stay-at-Home Orders
Tag: Covid-19
Mask Factories in LA Shut Down As Hundreds of Workers Get Sick
Francisco Tzul has worked in the Los Angeles garment industry for eight years, sewing clothing on cramped factory floors and struggling to get by on low wages. An undocumented immigrant from Guatemala, Tzul found himself out of work when the pandemic hit in March. So when he heard in May that LA Apparel, a brand… Continue reading Mask Factories in LA Shut Down As Hundreds of Workers Get Sick
Essential Workers in Many States Fighting for COVID-Related Workers Comp Benefits
Lauded for their service and hailed as everyday heroes, essential workers who get the coronavirus on the job have no guarantee in most states they’ll qualify for workers’ compensation to cover lost wages and medical care. Fewer than one-third of the states have enacted policies that shift the burden of proof for coverage of job-related… Continue reading Essential Workers in Many States Fighting for COVID-Related Workers Comp Benefits
Private Equity Firms Weathering Impact of COVID-19
Private equity investments appear to be weathering the impact of the pandemic across multiple sectors and geographies, according to the results of a Private Equity and COVID-19 study by Willis Towers Watson, indicating that despite a subdued environment for exit deals in the first six months of the year, there has been little evidence of… Continue reading Private Equity Firms Weathering Impact of COVID-19
Wimbledon 2021 Will Not Be Insured Against Pandemic
The world-famous lawn tennis tournament in Wimbledon will not be able to insure itself for a pandemic event in the coming year, despite the corona crisis. The British daily “The Telegraph” reported, citing testimony from tournament organizer Richard Lewis. The Grand Slam tournament in London, which started on Monday, had little financial damage this year… Continue reading Wimbledon 2021 Will Not Be Insured Against Pandemic
Nearly 26,000 Nursing Home Residents Died from COVID-19
Nearly 26,000 nursing home residents across the country have died from COVID-19, federal officials said Monday, the first public acknowledgement about the scope of the disease in the care facilities. According to the Centers for Medicare and Medicaid Services (CMS), states reported more than 60,000 cases of the coronavirus among nursing home residents, and the… Continue reading Nearly 26,000 Nursing Home Residents Died from COVID-19
Chubb CEO Sees $100B or More Pandemic Cost for Insurers
Chubb CEO Evan Greenberg estimates the pandemic will hurt business insurers by “$100B or greater,” writes New York Times’ Mary Williams Walsh in DealBook. Not only will claims come flooding in — from people exposed to the virus at work, patients injured by overwhelmed hospital systems, travelers whose trips were canceled — but insurance companies… Continue reading Chubb CEO Sees $100B or More Pandemic Cost for Insurers
In Honor of Our Fallen Soldiers
We’d like to take this opportunity to honor the men and women who died while serving in the U.S. military. This year Memorial Day weekend will look different for most of us following social-distancing recommendations and with restrictions and limitations remaining in place in public places (beaches, parks) as a result of COVID-19. Yet our… Continue reading In Honor of Our Fallen Soldiers
Independent Insurance Channel Braces for COVID Economy
The independent agency channel posted an exceptionally strong first quarter (Q1) of 2020, which will help them maintain momentum through the troubled COVID-19 economy, according to Reagan Consulting. Agents and brokers logged organic growth exceeding 5.0% for the ninth consecutive quarter. At 6.6%, it’s their highest Q1 growth since Reagan launched the Organic Growth and… Continue reading Independent Insurance Channel Braces for COVID Economy
Bipartisan Group of Lawmakers Unveil Compensation Fund for Essential Workers Struck by COVID-19
A bipartisan group of lawmakers announced Thursday they plan to introduce a bill that would create a compensation fund for essential workers and their family members who have been struck by the coronavirus. Reps. Carolyn Maloney, D-N.Y., Jerry Nadler, D-N.Y., Rep. Peter King, R-N.Y., and Sen. Tammy Duckworth, D-Ill., introduced the Pandemic Heroes Compensation Act… Continue reading Bipartisan Group of Lawmakers Unveil Compensation Fund for Essential Workers Struck by COVID-19