Study: P&C insurers cannot absorb pandemic-related business interruption losses
Posted: October 27, 2020
A new study by The Geneva Association found that while the life & health insurance industry can absorb pandemic-related claims without issue, the same cannot be said of the P&C industry and the countless COVID-19 business interruption claims they handle. According to the study “An Investigation into the Insurability of Pandemic Risk” – co-produced by The Geneva Association and the University of St. Gallen –...
Cyberattacks on the rise amid COVID-19 – report
Posted: September 11, 2020
Cyberattacks have increased in number and severity since the onset of the COVID-19 pandemic, according to a new report by cyber insurance and security firm Coalition. Coalition’s H1 2020 Cyber Insurance Claims Report collected insights from incidents reported across the 25,000 small and mid-sized organizations the company serves across the US and Canada. “The changes organizations have implemented to facilitate remote work have given cybercriminals new opportunities...
New pandemic insurance bill is "first salvo"
Posted: May 27, 2020
US Rep. Carolyn Maloney (D-NY) has introduced a bill which would pave the way for an insurance program that would cover pandemic-related business losses. The bill, called the Pandemic Risk Insurance Act (PRIA), calls for the establishment of a Pandemic Risk Reinsurance Program. This program – which would be funded by both public and private sources – would be used to cover business losses from...
