Source: Business Insurance

Gloria Gonzalez August 01, 2019 With measles cases increasing more than tenfold in the past three years, employers face a conundrum when dealing with infectious disease outbreaks creeping into the workplace. Employees sick with a contagious disease may create a health and safety hazard by coming to work, but most employers can only encourage workers to have vaccinations rather than mandate them. Workplace interactions could also give rise to workers compensation claims if employees can prove they contracted an infectious disease at work, experts say. Measles is one of the most contagious of all infectious diseases — up to nine out of 10 susceptible persons with close contact to an infected individual will develop measles, according to the U.S. Centers for Disease Control and Prevention. Measles incidents have surged in 2019. Current outbreaks are linked to travelers who brought measles back from other countries such as Israel, Ukraine and the Philippines, where large measles outbreaks are occurring, according to the CDC. The disease can quickly spread in the workplace if employees have not been vaccinated, experts say.

Source: Business Insurance

Judy Greenwald August 01, 2019 Although non-U.S. insurers are seeking arbitration provisions in their policies more frequently, policyholders may still be able to negotiate for better terms, say observers. Michael F. Sharkey, a partner with Perkins Coie LLP in Washington, said “There are insurance companies that take a hard line and say they’re not going to budge,” but he has had some success negotiating the issue and making it optional on the policyholder’s part. Policyholders should bring it up with their brokers early in the process when they are shopping the coverage, he said. “Typically, the best time for policyholders to address this issue is when negotiating a policy, and so it’s something insurance brokers and lawyers who are advising policyholders should be aware of, and focus on, because once your arbitration provision is in your contract, it’s not easy to get that set aside,” said K. James Sullivan, a policyholder attorney with Calfee, Halter & Griswold LLP in Cleveland. “We vet each and every single arbiter,” said Mark E. Miller of Miller Friel PLLC in Washington. “We check into their background, we understand where they came from, what type of experience they have, and we look into everything about them before we suggest them as a possible arbitrator,” he said, adding his firm has achieved good results with such an approach. Peter A. Halprin, a partner with Pasich LLP in New York, said he prefers “a clear choice of law,” such as New York’s, that would apply to an insurance policy’s interpretation. In addition, “You want to make sure you’ve got fair procedural rules, which means allowing both sides to present the evidence necessary to the case” without rushed time limits, Mr. Halprin said.

Source: Business Insurance

August 02, 2019 The Hong Kong Federation of Insurers said that typhoon Mangkhut’s insurance tab has increased to more than $3 billion Hong Kong ($390 million), Asia Insurance Review reported. Clement Hau, the federation’s chairman, said that property-related damage accounted for nearly 74%, or HKD 2.3 billion, of total claims from the typhoon which struck in September 2018.

Source: Business Insurance

August 02, 2019 U.K.’s Marine Accident Investigation Branch said that a Russian cargo ship that grounded off Gyllyngvase beach in Falmouth in December 2018 was not insured, which has hindered salvage efforts, BBC reported. The agency said that the 16,000-ton Kuzma Minin ran aground during a storm and salvage firms were unwilling to help due to payment concerns.

Source: Business Insurance

August 02, 2019 The World Bank Group’s pandemic bonds are under scrutiny after failing to make payouts despite an Ebola outbreak killing more than 1,800 people in the Democratic Republic of Congo, Reuters reported. Under the program, payouts are triggered once a virus outbreak crosses an international border and claims at least 20 lives in each of at least two countries, but it has killed just two people in neighboring Uganda.

Source: Business Insurance

August 02, 2019 Portugal’s competition regulator has fined four insurers nearly $60 million for running a cartel between 2014 and 2017, Reuters reported. The regulator said that Switzerland-based Zurich Insurance Group A.G. and Portugal-based Lusitania Companhia de Seguros S. A. among other insurers coordinated on prices for large corporate client workplace accident, health and auto insurance policies.

Source: Business Insurance

Thomson Reuters July 31, 2019 (Reuters) — Swiss Re Ltd.’s first-half net profit fell 5.3% as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes, took their toll. The world’s second-largest reinsurer highlighted claims from last year’s Typhoon Jebi in Asia, storm losses in Australia, and claims from the Ethiopian Airlines crash in March. There were also claims relating to the grounding of the Boeing 737 MAX fleet that followed the Ethiopian Airlines crash.

Source: Business Insurance

July 31, 2019 Research by U.K.’s Society of Motor Manufacturers and Traders found that carmakers have spent £330 million ($402 million) to set up contingency plans for a hard Brexit, Autocar.co.uk reported. The trade association said that the plans include stockpiling components, securing warehouse space, purchasing additional insurance and making logistics changes.

Source: Business Insurance

July 31, 2019 Kevin O’Donnell, chief executive of Bermuda-based RenaissanceRe Holdings Ltd., said that further loss creep related to typhoon Jebi in Japan could hit its retrocessional cover, Artemis.bm reports. Mr. O’Donnell said that typhoon Jebi is likely to cause up to $15 billion in insured losses, up from RenRe’s initial estimate of $10 billion.

Source: Business Insurance

July 31, 2019 U.K.-based BP P.L.C. will not take any of its oil tankers through the Strait of Hormuz in the Persian Gulf after Iran attempted to seize one of its vessels on July 10, Hellenic Shipping News reported citing sources. Brian Gilvary, chief financial officer of BP, said that the energy giant is currently using chartered tankers to ship oil out of the region.