-
The company increased non-cat reserves by $26mn in the second quarter.
-
Representative Cleaver says the Federal Insurance Office must work closely with the industry to understand the availability of such cover. -
The industry can avert costly conflict by showing it understands the challenges facing policyholders.
-
A string of companies pre-announced Covid-19 losses yesterday, with a number posting only modest reserves.
-
The trade association will hold dialogue about the BCPP scheme with members of the US House Committee on Financial Services.
-
Insurance bodies including APCIA and NAMIC strongly oppose the draft legislation.
-
It is one of the first rebate-related class actions filed in response to coronavirus.
-
Councilmember Mary Cheh has proposed legislation to extend the period during which policyholders can notify insurers of losses or appeal claims decisions.
-
It follows an earlier decision by a New York state court that a magazine publisher had not sustained physical damage from coronavirus.
-
The carrier pre-announced $1.8bn in cat losses that also included $312mn from nat cats and $130mn from civil unrest.
-
Carriers are tightening terms and conditions amid market hardening.
-
If passed, the amended legislation would compel insurers to pay out for virtually any policyholder affected by a civil authority shutdown order
