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The rating agency notes that the majority of BI policies would not cover coronavirus losses.
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Losses would run into hundreds of billions if carriers were expected to fund non-damage BI. -
The groups say business interruption insurance was not designed to cover losses from Covid-19.
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The Dubai-headquartered company will list on the Nasdaq today, giving it additional access to capital markets.
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Mark Bernacki formerly served as head of global property at Beazley until April 2019.
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Despite the prevalence of non-damage business interruption clauses, coronavirus fears may not be covered, a Wilson Elser partner said.
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A trio of brokers have been hired from Besso.
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The production company sought coverage after violence in Israel caused it to change filming locations for the show “Dig”.
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Carriers led by Axa XL are accused of “not acting in good faith” and acting “miserly”.
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The carrier may also expand in power and niche aviation as conditions improve, CUO Paul Gregory told analysts.
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Further payments for reconstruction and BI losses are expected.
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The events a year ago generated the highest Australian flood claims in eight years.
