Business Insurance
Indian drugmaker Dr. Reddy’s Laboratories Ltd. said on Thursday it had isolated all its data center services as a preventive measure following a cyberattack.
Posted: Oct 22, 2020
According to U.K.-based Fitch Ratings Ltd., macroeconomic factors and risks such as increased Covid-19 pandemic-related claims will continue to pressure the Mexican insurance sector through the rest of the year.
Posted: Oct 22, 2020
German flag carrier Deutsche Lufthansa AG reported an operating loss of €1.26 billion ($1.49 billion) in the third quarter, as it continues to struggle with the coronavirus pandemic-induced challenges.
Posted: Oct 22, 2020
The U.K. Met Office has issued a yellow weather warning for severe gale force winds and heavy rains on Oct. 21 as Storm Barbara hits the U.K. after striking Portugal and Spain.
Posted: Oct 22, 2020
Bermuda-based insurer and reinsurer Argo Group International Holdings Ltd. expects to report approximately $17 million in net losses in the third quarter, due to the ongoing Covid-19 pandemic.
Posted: Oct 22, 2020
While the decision on the business interruption test case brought to Australia's New South Wales Court of Appeal in early October is still pending, insurers are planning how to respond once it is issued.
Posted: Oct 22, 2020
A group of hackers attacked Singapore-based engineering company, the Meinhardt Group International Holdings Ltd. using the REvil ransomware in September.
Posted: Oct 22, 2020
The Bezymyanny volcano on the Russian peninsula of Kamchatka erupted on Oct. 21, spewing ash to an altitude of 6 miles.
Posted: Oct 22, 2020
Abu Dhabi’s International Petroleum Investment Co. said on Wednesday that it was dropping a lawsuit against Goldman Sachs Group Inc. to recover losses suffered from the U.S. investment bank’s dealings with Malaysian state fund 1MDB.
Posted: Oct 21, 2020
Arizona reached a $5 million settlement with Honda Motor Co. Ltd.’s U.S. units Wednesday in a probe into defective Takata air bag systems, state Attorney General Mark Brnovich said.
Posted: Oct 21, 2020
The Indiana Department of Health on Friday made public its proposed plan to vaccinate health care workers first when a vaccine for COVID-19 is made available.
Posted: Oct 21, 2020
Want to boost employee morale in a time of stagnant, work-from-home lockdowns? Step one: Appoint a “culture champion,” says London-based Rein4ce, a public relations firm.
Posted: Oct 21, 2020
Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to the brink of collapse by the COVID-19 pandemic.
Posted: Oct 21, 2020
Washington, D.C., Mayor Muriel Bowser has until Nov. 3 to sign a district council bill that would prohibit retaliation against employees who test positive for COVID-19 and assist businesses in acquiring personal protective equipment during the public...
Posted: Oct 21, 2020
Sunz Holdings LLC has hired Jeffrey Marshall as executive vice president and chief financial officer, the Bradenton, Florida-based workers compensation insurer announced Tuesday.
Posted: Oct 21, 2020
W.R. Berkley Corp. on Tuesday reported net income for the third quarter of 2020 declined 8.2% to $151.7 million, while net premiums were $1.88 billion, up 7.4% from the year-earlier period.
Posted: Oct 21, 2020
Specialty insurer Hiscox Ltd. on Wednesday named Kathleen Reardon, former CEO of Hamilton Re Ltd., as CEO of its reinsurance and ILS business.
Posted: Oct 21, 2020
Germany-based Munich Reinsurance Co. expects its COVID-19 pandemic-related claims to total around €800 million ($944 million) in the third quarter.
Posted: Oct 21, 2020
Analysis by U.K.-based Exonar Ltd. showed that European companies have been fined $404 million for violating the General Data Protection Regulation since the rule took effect.
Posted: Oct 21, 2020
Norway-based insurer Gjensidige Forsikring ASA's pre-tax profit rose 61% year-over-year to more than 2 billion Norwegian kroner ($215 million) in the third quarter of the year.
Posted: Oct 21, 2020
Adrian Hallmark, chief executive of U.K.-based carmaker Bentley Motors Ltd., said that the country's failure to strike a Brexit trade deal with the European Union could reduce the company's profits by up to 25%.
Posted: Oct 21, 2020
French insurance body and reinsurer CCR Re said that insurance claims related to heavy rains and floods in southeastern France could total €210 million ($248 million).
Posted: Oct 21, 2020
Mario Carini, chief executive of Italy-based Assicurazioni Generali SpA's Croatian unit, said that the insurer is focusing on strengthening its footprint in the local market.
Posted: Oct 21, 2020
U.K.-based data analytics firm GlobalData PLC predicts that the Malaysian general insurance industry would contract by 2.2% this year.
Posted: Oct 21, 2020
Purdue Pharma LP has reached an agreement to plead guilty to criminal charges over handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that effectively sidesteps paying billions of dollars in penalties and stops s...
Posted: Oct 21, 2020