Business Insurance
The Michigan Supreme Court on Friday tossed what it considered a “rigid” legal test when determining whether post-traumatic stress disorder and non-epileptic seizures were connected to a dietician’s electrocution and fall from a ladder, thus reviving...
Posted: Jul 31, 2023
Aon PLC disclosed in a stock market filing Friday that clients are taking legal action against the brokerage over transactions involving allegedly fraudulent letters of credit related to online reinsurance brokerage Vesttoo Ltd.
Posted: Jul 31, 2023
Love comes second to ambition, according to a recent survey of 1,000 workers that found 75% of them would be willing to sacrifice their romantic relationships or marriages for a successful career.
Posted: Jul 31, 2023
Data from the Albanian Financial Supervisory Authority showed that local insurers' gross written premiums grew by 13% year-on-year to 11 billion Albanian leks ($114.07 million) in the first half of the year, SeeNews reported. Non-life insurance premi...
Posted: Jul 31, 2023
Typhoon Doksuri, which hit southern China on July 28, brought heavy rain and strong winds that destroyed power lines and sparked fires, uprooted trees and caused damage across the region, Reuters reported. The typhoon forced the closure of businesses...
Posted: Jul 31, 2023
Bermuda-based specialty insurer Arch Capital Group Ltd.’s reinsurance business underwriting result increased by 75% to $245 million with a combined ratio of 81.9%, Reinsurance News reported. The segment’s gross premiums written grew by 42% to $2.5 bi...
Posted: Jul 31, 2023
Abdullah Al Salmi, chief executive of the Capital Market Authority, said that Omani insurers’ total direct premiums increased by 13% year-on-year to 541.3 million Omani rial ($1.4 billion) in 2022, Middle East Insurance Review reported. The total dir...
Posted: Jul 31, 2023
U.K.-based insurance broker Aon PLC’s Reinsurance Solutions arm has delivered year-on-year organic revenue growth of 9% in the second quarter of this year, driven by strong retention and continued net new business generation, Reinsurance News reporte...
Posted: Jul 31, 2023
U.S.-based equity firm TA Associates LP has silently been taking bids for its 80% stake in Australia and New Zealand insurance broking firm Honan Insurance Group Pty., Asia Insurance Review said citing the Australian Financial Review. The Goldman Sac...
Posted: Jul 31, 2023
Spanish insurer Mapfre SA’s net profit declined by 6% year-on-year to €317 million ($349.1 million) in the first half of the year, partly due to damage caused by the earthquake that devastated Turkey in February. Reuters reported. The insurer’s premi...
Posted: Jul 31, 2023
A U.S. judge on Friday shot down Johnson & Johnson’s second attempt to resolve tens of thousands of lawsuits over its talc products in bankruptcy, imperiling a proposed $8.9 billion settlement that would stop new lawsuits from being filed.
Posted: Jul 31, 2023
Allianz’s revamp of its commercial operations tops this week’s news. Also of note: An AIG unit must pay hefty defense costs to a pair of Illinois companies.
Posted: Jul 30, 2023
Hartford Financial Services Group Inc. on Thursday posted second-quarter net income of $542 million, up 23% from the year-earlier period, despite challenges with catastrophes.
Posted: Jul 30, 2023
Just how long it takes to peel away the plastic on a microwavable cup of Velveeta Shells and Cheese appeals to be at the heart of a lawsuit that was dismissed by a federal judge Thursday.
Posted: Jul 30, 2023
Marsh & McLennan Cos. Inc. said Friday it has agreed to acquire Asprose Corredora de Seguros S.A., a brokerage based in Costa Rica.
Posted: Jul 30, 2023
President Joe Biden on Thursday outlined steps his administration is taking to address the consequences of extreme heat, including targeted inspections of industries where workers are at increased risk of heat exposure and the adoption of federal hea...
Posted: Jul 30, 2023
A Georgia appellate court ruled the Atlanta Police Department wrongly suspended an injured officer’s workers compensation benefits on the basis that the officer received a return-to-work release from a provider who was not his treating comp physician...
Posted: Jul 30, 2023
Liberty Mutual Insurance Co. Friday named Allison Janisch as global product leader, casualty, for its global risk solutions business.
Posted: Jul 30, 2023
Nominations for the Business Insurance 2023 Women to Watch Awards close on Aug. 18.
Posted: Jul 30, 2023
Ryan Flanagan, senior vice president and real estate practice leader at Heffernan Insurance Brokers, says that in a tough market there are creative strategies insurance buyers can use to secure the coverage they need.
Posted: Jul 26, 2022
Teva Pharmaceutical Industries on Tuesday announced a proposed nationwide settlement that could resolve thousands of lawsuits over the drugmaker’s alleged role in the U.S. opioid epidemic.
Posted: Jul 26, 2022
Aspen Insurance Holdings Ltd. said in a U.S. Securities and Exchange Commission filing Monday that it has replaced its auditor after identifying material weaknesses in internal controls over financial reporting.
Posted: Jul 26, 2022
Global insured losses from natural catastrophe events were estimated at $39 billion for the first half of 2022, off 31.6% from first-half 2021’s $57 billion and 18% higher than the 21st-century average of $33 billion, according to a report Tuesday fr...
Posted: Jul 26, 2022
Improvements in risk modeling are necessary if future cyber insurance growth is to reflect increased market capacity that is driven by the industry’s appetite rather than by higher rates that stem from a supply-demand mismatch, says a rating agency r...
Posted: Jul 26, 2022
A U.S. judge said Uber Technologies Inc. did not violate a federal law protecting people with disabilities by not offering wheelchair-accessible vehicles in every market the ride-sharing company serves.
Posted: Jul 26, 2022