Global covid-19-related insurance losses $29bn and growing

The running total of global covid-19 related losses, reserves and estimates reported by insurers and reinsurers to Zurich-based financial services advisory PeriStrat LLC, were $US20.75bn ($A29bn) as of July 28, according to Reinsurance News.

FCA-insurer stoush over BI payout erupts in UK High Court

A stoush between UK’s Financial Conduct Authority (FCA) and insurers over cover for business interruption (BI) during the covid-19 pandemic has erupted before Lord Justice Julian Flaux and Justice Christopher Butcher hearing a test case in the British High Court to find clarity on the issue.

QBE foreshadows $US750m 1H20 loss

QBE expects to report a 1H20 net statutory loss after tax of about $US750m ($A1.05bn), reflecting the impact of COVID-19, catastrophe experience and prior accident year claims development combined with a net investment loss of about $US125m because of extreme investment market volatility.