Business Insurance
Embattled insurtech Vesttoo Ltd. said late Tuesday it will liquidate its collateralized insurer in Bermuda Vesttoo Alpha P&C Ltd., but it will continue to operate branches in New York, London and other territories.
Posted: Aug 08, 2023
Tom Reagan, cyber practice leader, U.S. and Canada, at Marsh, details new SEC disclosure requirements for cyber breaches and what the big changes will mean for corporations.
Posted: Aug 08, 2023
Liberty Mutual Insurance Co. said Tuesday that Amy Gross and Nikki Lankford have been promoted within the insurer’s global risk solutions North America business.
Posted: Aug 08, 2023
A new report from the Department of Health Policy at Vanderbilt University Medical Center concludes that many individuals with opioid use disorder are not receiving proper medical treatment for dependency.
Posted: Aug 08, 2023
U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets that in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said Tuesday.
Posted: Aug 08, 2023
Average annual premium renewal pricing increased in most lines of commercial insurance coverage last month, but the pace of rate hikes slackened in several areas, according to a report Tuesday from Ivans Insurance Services, a unit of Applied Systems...
Posted: Aug 08, 2023
Cheesy and stacked burgers advertised by a YouTube star, created in “ghost kitchens” where the maker is unknown virtually and varies, perhaps giving existing restaurants an opportunity to craft the burgers, and then delivered to customers in unbrande...
Posted: Aug 08, 2023
A federal appeals court Monday reinstated a putative class action against a hand wipes company, ruling the plaintiff had successfully alleged that the company’s claims could mislead the general public.
Posted: Aug 08, 2023
(Reuters) – Bermuda on Tuesday took steps toward adopting a corporate income tax as part of a move alongside nearly 140 other countries to overhaul tax regimes to deter large multinational companies from booking profits in the lowest-tax nations.
Posted: Aug 08, 2023
Risk managers and captive owners need to communicate the value of their captive insurance programs, especially in a hard market and difficult economy, experts say.
Posted: Aug 08, 2023
A federal judge in Texas has ordered three senior lawyers at Southwest Airlines Co. to attend “religious liberty training” conducted by a prominent conservative Christian legal rights group, saying they undermined an earlier ruling in a flight attend...
Posted: Aug 08, 2023
Ngozi Ola-Israel, chief financial officer at Nigeria-based Axa Mansard Insurance Plc, said that the company’s insurance revenue grew 12% year-on-year to 39 billion Nigerian naira ($50.58 million) in the first half of the year, Business Day Nigeria re...
Posted: Aug 08, 2023
Norwegian protection and indemnity insurance company Hydor AS has acquired Singapore- and Rotterdam-based fixed premium P&I solutions provider EF Marine Pte. Ltd., Splash 247 reported. The combined firm will be branded as Hydor, with a total team of...
Posted: Aug 08, 2023
Kuwait Reinsurance Co. KSCP's net income after tax and zakat increased by 15.4% year-on-year to 4.87 million Kuwaiti dinar ($15.79 million) in the first half of this year, Middle East Insurance Review reported. Gross written premium grew by 24% year-...
Posted: Aug 08, 2023
Bermuda-based insurer SiriusPoint Ltd. has entered into a partnership with managing general underwriter Eaton Gate MGU Ltd., which specializes in mid-market property and commercial insurance in the U.K., FinTech Global reported. The partnership mainl...
Posted: Aug 08, 2023
German insurer Allianz SE has completed a transaction regarding the sale and transfer of its operations in Lebanon to asset manager Global Gate Capital, Xprimm reported. The transaction is part of the German insurer’s efforts to streamline its operat...
Posted: Aug 08, 2023
Canada-based Fairfax Financial Holdings Ltd. has posted net earnings of $734.4 million for the second quarter of this year, compared to a net loss of $32 million in the same period in 2022, Reinsurance News reported. Net property and casualty insuran...
Posted: Aug 08, 2023
Businesses will face challenges complying with a cybersecurity rule issued by the U.S. Securities and Exchange Commission late last month that gives them just four business days to report material cyber breaches, experts say.
Posted: Aug 08, 2023
First-half surplus lines premiums reported by 15 U.S. Surplus Lines Service and Stamping Offices totaled $35.96 billion, up 15.9% from the comparable period last year, according to a report issued Monday.
Posted: Aug 07, 2023
Resilience Cyber Insurance Solutions LLC said Monday it had secured $100 million in series D funding led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, Intact Insurance.
Posted: Aug 07, 2023
The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc. $1.5 million Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections.
Posted: Aug 07, 2023
The U.S. Equal Employment Opportunity Commission on Monday issued a proposed rule to implement the Pregnant Workers Fairness Act, which took effect June 27.
Posted: Aug 07, 2023
The Ministry of Emergency Management in China said that the country’s direct economic losses from natural disasters increased to 41.18 billion Chinese yuan ($5.74 billion) in July, more than the losses reported in January to June combined, Reuters re...
Posted: Aug 07, 2023
A.M. Best Co. Inc. said that Taiwan-based Fubon Insurance Co. Ltd.’s capital and surplus grew to $18.5 billion Taiwan ($583.9 million) in the first half of the year, as pandemic insurance policies reached maturity and a capital injection of TWD16 bil...
Posted: Aug 07, 2023
According to some industry sources, insurers in South Korea are strengthening efforts to expand their business activities in international markets as the local market has become saturated, The Korea Times reported. Both non-life and life insurers are...
Posted: Aug 07, 2023