US trade credit insurers have reportedly asked the US Treasury Department and Federal Reserve for about $60bn in government support.
The New York State Department of Financial Services (DFS) has issued an emergency regulation requiring insurers to accelerate the resolution and payment of claims from businesses and individuals who suffered damage as a result of looting.
Argo has reached a $900,000 settlement with the Securities and Exchange Commission after the Bermuda-based (re)insurer faced charges of failing to fully disclose perquisites and benefits provided to former president and CEO Mark Watson (pictured).
The Institute for the Advancement of the American Legal System (IAALS) has launched a new project to create initial discovery protocols for US Covid-19 insurance claims, with a working group of 11 judges and defence and plaintiff lawyers.
Shares in Axa closed 10 percent higher on Wednesday after the French insurer defied the recommendations of regulators and announced it would push ahead with its dividend to shareholders.
UK law firm Michelmores is the latest to consider launching group actions against insurers on behalf of firms who have had coronavirus-related business interruption claims declined by carriers including Hiscox, RSA and QBE.