Claims & Reserving
Emerging Damage: The Case of Melamine
Emerging risks evolve through three phases: emerging interest, emerging damage and emerging litigation. During the "emerging interest" phase, scientists, regulators or legal scholars first flag the ...
BIG La. Case Against Lloyd’s For COVID BI Cover Rejected; Travelers Ohio Win
A New Orleans judge denied a motion for declaratory judgment that insurance coverage is owed to a restaurant for business income that was lost when it was required to close its dining room because of ...
Social Inflation Drives $400M Prior-Year Reserve Charge For Everest Re
Everest Re is the most recent insurance and reinsurance company to announce catastrophe and COVID losses in advance of fourth-quarter earnings, but Everest's disclosure on Monday also addressed a ...
British Officials Claim They Had to Bear Liability in Exchange for Vaccine Deals
Britain had no choice but to agree to bear liability if claims were made against vaccine makers as part of supply deals, officials said on Monday, adding that approval for three of the candidates ...
How to Avoid Bad Faith Damages in COVID First-Party Property Lawsuits
As observed from the numerous COVID-19 first-party property cases that have already been filed, insureds are claiming insurers have denied their business interruption claims in bad faith. Whether the ...
Hurricane Zeta Brings Damaging Winds, Storm Surge to Louisiana
Hurricane Zeta was poised to crash into Louisiana on Wednesday with a "life-threatening storm surge" and winds that will reach far inland, the state's sixth lashing this year from a Gulf Coast storm. ...
D&O Underwriting Losses Will Continue, Worsened by Pandemic Claims: Fitch Ratings
For insurers handling U.S. directors and officers liability, Fitch Ratings has bad news and good news, both relating to the coronavirus pandemic. First, the bad: Underwriting losses will likely ...
Department Store Blames Unresolved Business Interruption Claims for Causing Bankuptcy
Century 21 Stores, an iconic New York off-price department store chain, filed for bankruptcy with plans to shut down, becoming the latest victim of the retail industry carnage that's accelerated ...