Business Insurance
World’s largest chocolate maker Barry Callebaut AG suspended production at its chocolate factory in the Belgian town of Wieze after a salmonella outbreak.
Posted: Jul 01, 2022
Data from the Russian Central Bank said that local insurers’ aggregate gross written premium dropped almost 2% year-on-year to 452.3 billion Russian rubles ($8.4 billion) in the first quarter of the year due to weakening foreign trade and financial c...
Posted: Jul 01, 2022
U.K.-based PricewaterhouseCoopers LLP expects U.K. businesses to face up to a 20% increase in their annual insurance bills as insurers hike premium rates to cover the climbing cost of claims resulting from surging inflation and supply chain disruptio...
Posted: Jul 01, 2022
Leadership changes at Everest Insurance, the insurance division of Everest Re Group, top this week’s news. Also of note: An analysis of the potential exposures employers could face for covering the travel costs of employees who go to other states for...
Posted: Jul 01, 2022
Policy committees in the California Senate passed a bill that would extend COVID-19 presumptions for two years.
Posted: Jul 01, 2022
Marsh LLC on Friday named Stephen Horstkamp U.S. chemical practice leader, effective immediately, succeeding Mary Russell, who is retiring from the company.
Posted: Jul 01, 2022
The U.S. Occupational Safety and Health Administration is extending its revised National Emphasis Program for COVID-19, set to expire July 7, until further notice and doubling its inspections goal, the Department of Labor announced Thursday.
Posted: Jul 01, 2022
Catastrophe bond issuance remained buoyant in the first half of this year, with $7.7 billion in new issuance following a record year in 2021, according to a report released Friday by Moody’s Investors Service Inc.
Posted: Jul 01, 2022
Three Black coaches who have accused the National Football League in a lawsuit of racist hiring practices want to question league Commissioner Roger Goodell under oath as they try to keep the case in federal court rather than move to arbitration.
Posted: Jul 01, 2022
Mid-year reinsurance renewals showed hefty increases in U.S. property business and more modest casualty rate movements, according to a report Friday from Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
Posted: Jul 01, 2022
Marsh LLC said Thursday the London-market arms of American International Group Inc., Berkshire Hathaway Specialty Insurance, Sompo International, Starr Insurance Cos., Hartford Financial Services Group Inc. and Zurich Insurance Group are participatin...
Posted: Jun 30, 2022
A federal appeals court Wednesday affirmed a lower court ruling in a Munich Re unit’s favor in a coverage dispute with a Florida public entity risk management program that contended the reinsurer was forbidden from second-guessing its decision to pay...
Posted: Jun 30, 2022
Everest Insurance, the insurance division of Everest Re Group Ltd., on Thursday said Erik Nikodem, president of global property, will retire in mid-July and appointed three executives to take over his responsibilities.
Posted: Jun 30, 2022
What potential plaintiffs see: A person with a friendly face and a nice suit can get you money you deserve. What most insureds envision: Higher insurance rates and, possibly, a courtroom.
Posted: Jun 30, 2022
Specialty insurer and reinsurer Convex Group Ltd. said Thursday its board has named co-founder Paul Brand as group CEO, effective Friday.
Posted: Jun 30, 2022
The former top corporate lawyer at Apple Inc. pleaded guilty on Thursday to insider trading charges, for what prosecutors called a five-year scheme to trade ahead of the iPhone maker's quarterly earnings announcements.
Posted: Jun 30, 2022
Allianz SE said Thursday it has started a multiyear partnership with insurtech Coalition Inc., a managing general agent specializing in cyber risk.
Posted: Jun 30, 2022
The supermarket chain Wegmans agreed to pay $400,000 and upgrade its security practices over a data breach that exposed personal information of more than 3 million consumers nationwide, New York Attorney General Letitia James said on Thursday.
Posted: Jun 30, 2022
Tokio Marine Highland said Thursday it had named Chief Underwriting Officer Norman Heinrich as CEO.
Posted: Jun 30, 2022
U.S.-based credit ratings agency S&P Global Ratings Inc. expects the aggregate net income of Japan’s three major nonlife insurers to remain favorable this year after their net income more than doubled in 2021.
Posted: Jun 30, 2022
U.K.-based specialist insurer CFC Underwriting Ltd. said that growing technology company mergers and acquisitions present new business opportunities for insurance brokers.
Posted: Jun 30, 2022
Romanian energy company Black Sea Oil & Gas SA has officially launched its new Black Sea offshore gas platform, close to Ukraine, without any insurance.
Posted: Jun 30, 2022
South Africa-based insurer African Risk Capacity Group has committed to extend insurance cover to the African agriculture and green energy sectors.
Posted: Jun 30, 2022
According to U.K.-based data analytics firm GlobalData PLC, Mexico’s general insurance industry is expected to be worth $26.1 billion in 2026, up from $18.2 billion in 2021.
Posted: Jun 30, 2022
The U.K.’s Birmingham Crown Court fined brewery Carlsberg Supply Company UK Ltd. in Northampton £3 million ($3.7 million) over an “explosive release” of ammonia gas that killed one worker and injured around 20 others in November 2016.
Posted: Jun 30, 2022