Business Insurance
NFP Corp. acquired Insurance Specialty Group LLC, an Atlanta-based managing general agent that specializes in construction coverage on Oct. 1, NFP said in a statement Thursday.
Posted: Oct 29, 2020
Ohio Gov. Mike DeWine requested that the Ohio Bureau of Workers Compensation release $5 billion in dividends to ease the continued financial impact on the state’s employer from the COVID-19 pandemic, his office said in a statement Wednesday.
Posted: Oct 29, 2020
Axis Capital Holdings Ltd. swung to a third-quarter loss of $73 million from a net profit of $28 million in the year-earlier period, as catastrophe losses hit the company’s insurance and reinsurance operations.
Posted: Oct 29, 2020
Willis Towers Watson PLC reported $2.01 billion in third-quarter revenue, up 1% over the same period last year, but organic revenue slipped 1% as the brokerage continues to face “headwinds” amid the COVID-19 pandemic, the firm’s top executives said T...
Posted: Oct 29, 2020
Commercial insurance rate increases continue to accelerate in the pandemic, forcing some buyers to retain more risk, top executives at Marsh & McLennan Cos. Inc. said Thursday on a third-quarter earnings call with analysts.
Posted: Oct 29, 2020
Eastern European criminals are targeting dozens of U.S. hospitals with ransomware, and federal officials on Wednesday urged health care facilities to beef up preparations rapidly in case they are next.
Posted: Oct 29, 2020
San Diego-based ReAlign Insurance Holdings LLC said Thursday it has formed Summit Specialty Insurance Co., a surplus lines insurer that will write a combination of commercial and personal lines.
Posted: Oct 29, 2020
The U.K. government plans to launch an investigation to probe whether it has been cheated out of nearly £4 billion ($5.2 billion) from its furlough program aimed at helping people laid off during the COVID-19 pandemic.
Posted: Oct 29, 2020
Dutch insurer Aegon NV is looking to sell its Eastern European business as it tries to cope with the financial hardships brought by the COVID-19 pandemic.
Posted: Oct 29, 2020
Qatar Insurance Co.'s gross written premiums increased 4% to 10.2 billion Qatari rial ($2.7 billion) in the first nine months of the year, driven by hardening commercial insurance and reinsurance rates.
Posted: Oct 29, 2020
Insurance Ireland members will continue giving policyholders special breaks like premium assistance after the government decided to increase COVID-19 restrictions.
Posted: Oct 29, 2020
India-based SBI General Insurance Co. Ltd.'s gross written premiums increased more than 31% year-over-year to surpass 24 billion Indian rupees ($324 million) in the fiscal second quarter ended Sep. 30.
Posted: Oct 29, 2020
A 5.8-magnitude earthquake struck Chile on Oct. 28.
Posted: Oct 29, 2020
An Insurance Regulatory and Development Authority panel has recommended that insurers issue surety bonds as an alternative to bank guarantees for large construction and infrastructure projects.
Posted: Oct 29, 2020
Jamaica's Ministry of Agriculture and Fisheries said that heavy rains over the last four days caused more than $1 billion worth of damage to crops, livestock and infrastructure.
Posted: Oct 29, 2020
Hub International Ltd. said late Wednesday that Pete Reilly, a former Arthur J. Gallagher & Co. executive, will succeed Glenn Day as the leader of the broker’s North American health care specialty practice.
Posted: Oct 28, 2020
The Board of Estimates for Baltimore, which sustained a major ransomware attack last year, approved renewal of its $20 million in cyber insurance coverage Wednesday with Chubb Ltd. and Axa SA units, albeit at a higher price.
Posted: Oct 28, 2020
A former Uber Technologies executive who co-founded a British startup backed by billionaire Jeff Bezos has been sued for allegedly stealing trade secrets from a California shipping and logistics company where he was once a board member.
Posted: Oct 28, 2020
Unionized workers who want to protest treatment or wages might not always be able to bring along their favorite mascot: a rabid, red-eyed rodent named Scabby the Rat.
Posted: Oct 28, 2020
New Jersey lawmakers will consider whether workers compensation insurers in the state will be required to pay for medical marijuana under certain circumstances.
Posted: Oct 28, 2020
More than two dozen policyholder groups representing hospitality, real estate, retail, film, television and other industries have formed a coalition in the latest push to establish a public-private backstop for future pandemic risks.
Posted: Oct 28, 2020
A construction company that appealed the Indiana Workers Compensation Board’s award of medical and disability to a worker who fell through the roof not only lost its appeal, but saw the worker’s award increased by 5% by the court.
Posted: Oct 28, 2020
The 10th U.S. Circuit Court of Appeals on Tuesday affirmed citations against an Oklahoma oil refinery after an explosion killed two workers in 2012.
Posted: Oct 28, 2020
Standard & Poor’s Global Ratings Inc. on Wednesday placed American International Group Inc.’s property/casualty operations on “creditwatch” with negative implications following AIG’s announcement that it would split its life and general insurance uni...
Posted: Oct 28, 2020
Insurtech companies globally raised $2.538 billion across 104 deals during the third quarter of 2020, Willis Towers Watson PLC said in a report Wednesday.
Posted: Oct 28, 2020