Business Insurance
The board of directors of the Ohio Bureau of Workers Compensation on Monday agreed to distribute an additional $5 billion dividend to ease the impact of the pandemic on the state’s employers — bringing the total distributed by the bureau to $8 billio...
Posted: Nov 02, 2020
Two private equity investment firms said Monday they will acquire Ariel Re, a unit of Hamilton, Bermuda-based Argo Group International Holdings Ltd., and are investing in another insurance firm.
Posted: Nov 02, 2020
Addressing workplace safety and workers compensation, lawmakers in Pennsylvania on Friday introduced a bill that would clarify an employer’s responsibility and rights regarding the state’s four-year-old medical marijuana law.
Posted: Nov 02, 2020
A sports fashion chain that does business in Chicago and the surrounding area has agreed to pay $420,000 to settle a race and national origin discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the agency said Friday.
Posted: Nov 02, 2020
The UK Supreme Court will hear an appeal on Nov. 16 of the Financial Conduct Authority’s test case over which insurance companies should offer payouts to small businesses battered by the coronavirus pandemic, it said on Monday.
Posted: Nov 02, 2020
It’s settled: Canada Dry ginger ale contains none of the health benefits of ginger.
Posted: Nov 02, 2020
An employer may be on the hook for $4,827.56, plus interest, in costs for a pain-relieving compound cream dispensed to an injured worker whose claim it accepted and whose pharmacy order went without a utilization review request, a judge in Pennsylvan...
Posted: Nov 02, 2020
One of Australia’s largest pension funds on Monday agreed to settle a landmark climate risk litigation filed by a 25-year-old member who alleged it was failing to protect his retirement savings against climate change.
Posted: Nov 02, 2020
The U.S. Supreme Court on Monday refused to hear a bid by the National Football League and AT&T Inc.'s DirecTV unit to avoid a proposed class-action antitrust lawsuit that accuses them of overcharging for a popular satellite television package.
Posted: Nov 02, 2020
Insurer Hiscox said on Monday it reserved $75 million for catastrophe claims in the third quarter and flagged further exposure to event cancellations if COVID-19 curbs continue into the new year.
Posted: Nov 02, 2020
Insured losses to onshore properties from Hurricane Zeta range from around $1.5 billion to close to $4.4 billion, according to latest estimates Monday from several catastrophe risk modeling companies.
Posted: Nov 02, 2020
A 7.0-magnitude earthquake struck the Turkish town of Seferihisar in Izmir province on Oct. 30 and caused widespread damage.
Posted: Nov 02, 2020
The World Bank Group-issued $225 million catastrophe bond for the Philippines is under threat from typhoon Goni, which may cause a partial loss of principal.
Posted: Nov 02, 2020
A fire that broke out at AKM Semiconductor Inc.'s factory in Nobeoka City, Japan, on Oct. 20 and burnt for more than two days has hit the global supplies of numerous digital-to-analog converter chips.
Posted: Nov 02, 2020
Hedi Hachicha, an official at Scor SE's Middle East & Africa unit, said that the reinsurance industry is facing pressure due to the COVID-19 pandemic-related losses and the current financial market situation.
Posted: Nov 02, 2020
Brazilian meat processor JBS SA will sue its majority shareholders and a few former managers for a plunge in the company's share price in 2017 after they confessed to bribing multiple government officials.
Posted: Nov 02, 2020
Hailstorms hit the Australian state of Queensland on Nov. 1 and caused $60 million Australia ($42 million) worth of damage.
Posted: Nov 02, 2020
Data from the Insurance Regulatory and Development Authority of India showed that local nonlife insurers' gross written premiums increased 1.4% year-over-year to more than 968 billion Indian rupees ($13 billion) in the six months ended Sep. 30.
Posted: Nov 02, 2020
Healthcare providers are facing growing liability risks during the global coronavirus pandemic, as more care is delivered through telehealth and virtual visits. Learn how Coverys can help providers understand the risks and gain insights on how to mit...
Posted: Nov 02, 2020
Nonprofits face various liability risks, from D&O to employment practices, to fiduciary liability and more. Mitigating risk is key to sustaining operations. Learn more in this Business Insurance Risk Perspective from Philadelphia Insurance Companies.
Posted: Nov 02, 2020
Two civil rights groups filed suit against President Trump, the Department of Labor and U.S. Secretary of Labor Eugene Scalia on Thursday challenging the president’s diversity training executive order.
Posted: Oct 30, 2020
The pandemic negatively affected both medical costs and indemnity for workers with soft tissue injuries, according to a study released Thursday by the Workers Compensation Insurance Rating Bureau of California.
Posted: Oct 30, 2020
Hartford Financial Services Group Inc. reported third-quarter net income of $453 million, a 14% decrease from the same quarter in 2019 due to restructuring costs related to Hartford Next and losses from the sale of its operations in continental Europ...
Posted: Oct 30, 2020
In a policyholder victory, a state court judge has refused to dismiss COVID-19 business interruption litigation filed by a Philadelphia pub against Lloyd’s of London, in a preliminary ruling.
Posted: Oct 30, 2020
McDonald’s Corp. was hit on Thursday with a potentially multi-billion-dollar lawsuit by Black franchise owners who accused the fast-food giant of racial discrimination for steering them to underperforming stores.
Posted: Oct 30, 2020