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6th Circ. Axes Zurich COVID-19 Coverage Loss

The Sixth Circuit on Wednesday vacated a coverage win for more than a dozen steak and seafood restaurants, just one week after becoming the latest appellate court to side with an insurer in a dispute over COVID-19 business interruption coverage. ....

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Fitch Cautious, but Hartwig Predicts 'Isolated' Impact From COVID Business-Interruption Claims


Fitch Cautious, but Economist Predicts ‘Isolated’ Impact From Business-Interruption Claims
While Fitch Ratings worries that litigation over COVID-19-related business-interruption claims is creating uncertain risk for property and casualty insurers, an economist who once served as a chief advisor to the industry said he doubts there will be a widespread impact.
Robert Hartwig, an associate professor at the Risk and Uncertainty Management Center at the University of South Carolina, said COVID-19 has remarkably left insurers’ combined ratios largely unscathed.
“Amazingly there was virtually no change in the industry’s underwriting performance 2020 v. 2019,” Hartwig said this week during a podcast hosted by the National Association of Mutual Insurance Companies. ....

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