Pandemic
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Ghana and Kenya businesses get solar boost through Covid-19 crisis
REDAVIA, a provider of solar power for businesses, has created a new concessionary solar power programme, the Covid-19 Resilience Lease,…
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Maine superintendent of insurance warns market not to narrow or cancel valid virus cover
Eric Cioppa, superintendent of insurance in the state of Maine, has warned admitted and surplus lines insurers and brokers that…
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BI coverage Act introduced in Congress as insurers warns it would end market as we know it
If Congress passes the Business Interruption Insurance Coverage Act, which was introduced on 14 April and aims to retroactively change…
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Exclusions loom as D&O renewals impacted by pandemic
The coronavirus pandemic is further hardening the D&O market, which is beginning to apply more restrictive terms and conditions with…
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Mactavish calls for independent review of coronavirus BI claims
An independent review process for Covid-19 insurance claims should be put in place to check UK insurers are meeting their…
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FCA tells insurers to pay valid BI claims swiftly as Hiscox responds to class action threat
Leading UK business insurer Hiscox yesterday issued a statement about its supposed potential exposure to business interruption (BI) claims triggered…
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Covid-19 economic contraction will rival Great Depression, warns IMF
Global GDP will fall 3% in 2020 as the economy takes a direct hit from Covid-19 and subsequent ‘Great Lockdown’,…
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AIR launches open-source Covid-19 projection model
An interactive Covid-19 projection model has been launched by AIR Worldwide, mapping case and death forecasts globally for the next…
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Global funding to fight coronavirus exceeds all but HIV and tuberculosis
Research from R&D tax credit specialists, RIFT Research and Development, has found that funding to fight the Covid-19 virus already…
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Race to feed South Africa must turn from marathon to sprint
The emerging lockdown risks of civil unrest and an increase in crime related to food scarcity have turned into reality,…
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ADB bolsters pandemic assistance fund to $20bn as regional growth set to plummet
The Asian Development Bank (ADB) has tripled the size of its response to the coronavirus pandemic to $20bn and approved…
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S&P sees minimal virus hit on Q1 US P&C earnings but BI policies on watch
Credit ratings agency Standard & Poor’s (S&P) says the Covid-19 virus will have a lesser impact on the first-quarter underwriting…
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APCIA says ‘let the market work’ as California commissioner demands premium refunds
The latest political assault on the insurance sector to seek funds to help pay for the impact of the coronavirus…
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Fairfax Financial books $1.5m Covid-19 investment losses in Q1
Canada’s Fairfax Financial Holdings said stock market turmoil caused by the Covid-19 pandemic has cost it $1.5bn in investment losses…
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Chubb to host three-day virtual conference
Chubb is hosting a three-day virtual risk and insurance management conference next month for clients, brokers and agents. With nearly…
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Cyberattackers using AI to target high-value attacks on corporates
Cybercriminals will move away from high-volume, low-value attacks on consumers during the next few years to more selected, high-value, attacks…
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Wimbledon set to receive £114m pandemic insurance payout
Insurers are set to pay out more than £100m for the cancellation of this year’s Wimbledon Championships – one of…
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QBE to raise A$1.3bn to cover virus-linked uncertainty and prepare for opportunities
QBE plans to raise A$1.3bn to protect itself against expected reductions in revenues in various countries in which it operates,…
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Swiss Re says Covid-19 will produce one of the deepest but shortest recessions
The Swiss Re Institute predicts Covid-19 will produce one of the deepest but shortest recessions on record. It expects GDP…
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World Bank pandemic bonds will be triggered if virus cases escalate in developing world
The World Bank’s pandemic bonds, which could provide $132.5m of funds to countries within the International Development Association (IDA) and…