Crypto.com has gathered a record-breaking $360 million worth of insurance to cover the potential loss of coins stored in special offline vaults. Announced Monday, the crypto finance platform accessed the cover through institutional custody provider Ledger Vault, which offers $150 million of pooled insurance cover to clients via insurance broker Marsh, and Lloyd’s of London underwriter Arch Insurance.

In an attempt to avoid paying high premiums, electric automobile manufacturer Tesla announced that it would forgo directors and officers liability insurance (D&O) this year, opting to rely on CEO Elon Musk to pay for legal defense.

Like many industries, cannabis-related companies in the United States haven’t been left untouched by the fallout from the coronavirus. On the bright side, demand for cannabis products swelled in the initial weeks following government-mandated lockdowns.

A product liability claim presents some of the highest dollar loss potential for cannabis companies, according to Chris Boden, cannabis practice group team leader at the California-based wholesale insurance broker, Crouse and Associates Insurance Services. It’s one of the most severe exposures cannabis companies face, and yet not all businesses purchase product liability insurance coverage.

Gov. Brian Kemp has used his emergency powers to protect Georgia’s strained hospitals and medical workers from lawsuits related to the care they provide during the coronavirus pandemic.

On March 18, 2020, a bipartisan group of U.S. House members asked the insurance industry to retroactively recognize financial losses relating to COVID-19 as covered claims under commercial property insurance policies that either explicitly or implicitly do not provide such coverage.

One may not need to be able to read the cannabis leaves to divine the impact of the COVID-19 pandemic on cannabis and insurance. Some good guesses from any insurance professional with their foot in the door of a dispensary, farm, lab, or distribution facility, might go along the lines of: Vaping will be tougher to insure, reinsurance will be harder to find, expect even more exclusions in policies, greater capacity.

A local dine-in theater company thought it was prepared for a crisis like COVID-19. When public health officials forced the closure of its nine Houston-area locations in March, the owners thought they were covered.

Insurers are bracing themselves for billions of dollars of claims because of legal action over the coronavirus pandemic.

A fire that spread through a grassy area of Southwest Florida International Airport has destroyed thousands of rental cars, fire department officials said. The blaze began Friday, spanned 15 acres and originally involved only 20 cars in the grassy rental car overflow area at the airport in Fort Myers, fire department officials said.

A train engineer faces federal charges after he allegedly admitted to intentionally derailing a train Tuesday near the USNS Mercy, a ship sent to Los Angeles to ease the burden of hospitals treating coronavirus patients, according to the Department of Justice.

Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses, industry sources say.

Eight car dealerships in the Memphis metro area have been hit by an auto theft ring in the past 10 days, according to a news release from the Greater Memphis Auto Dealers Association.

A new phishing scam is playing on the public’s fears of the COVID-19 outbreak, according to the world’s largest security-awareness training and simulated phishing platform.

The list of states in which marijuana is legal, either for medical or recreational purposes, is expected to continue to grow in 2020. Legislative efforts are expected to continue in New York and New Jersey, despite falling short the previous year, and in other states there are ballot-initiative campaigns aimed at legalizing recreational marijuana.