Insurers are reviewing their casualty underwriting strategy to account for the potential consequences of the COVID-19 pandemic amidst a general review of their market strategy.
The lockdown and social distancing requirements due to the Covid-19 pandemic are accelerating the deployment of new technology and the digitisation of the economy: Companies are rushing to introduce innovation they had planned to implement only at a later stage.
Construction projects rely deeply on the quality of the work delivered by contractors and subcontractors, whose insolvencies can severely impact a development and the insurance policies in place. Insurers are scrutinising construction projects more carefully also because the risk of insolvencies is on the rise.
The UK’s High Court has released its judgment widely supporting the arguments put forward on behalf of insureds in the Financial Conduct Authority’s (FCAs) landmark test case over disputed business interruption (BI) coverage in light of the coronavirus pandemic.
Private hospitals in the UK are reducing the capacity reserved for the National Health Service (NHS) and are expanding services for private patients. It is not business as usual yet, though.
Change in the workplace is currently accelerating faster than ever due to a number of factors, the Covid-19 pandemic being one of the most recent and disruptive examples. A flurry of new technology applications can ensure that employees receive the appropriate support and the benefits the organisation wants to offer.
Momentum created by the Black Lives Matter movement is the latest factor in a recent trend of increased legal action by shareholders, which is impacting directors & officers (D&O) policies.
The pandemic is further increasing uncertainty and protectionism in global trade which is set to boost demand for trade credit insurance. While some insurers are themselves impacted by the crisis, a diverse set of solutions exists for corporations.
While reserving capacity for Covid-19 patients was crucial to cope with the virus outbreak it has prevented diagnostics and treatment for other diseases. Addressing this backlog is a matter of urgency and remote consulting has to be part of the solution.