Business Insurance
This time last year, shoppers on Chicago's Magnificent Mile were waiting for Louis Vuitton to debut its whimsical holiday window decorations. Now those same windows are hidden behind a wall of wood panels painted bright orange.
Posted: Oct 21, 2020
A new California requirement that employers report to their workers compensation insurers any COVID-19 cases, whether work-related or not, has led to concerns that employers will struggle to comply.
Posted: Oct 21, 2020
Hartford Steam Boiler Inspection & Insurance Co. said Tuesday it has added additional coverage and services to its HSB cyber suite product for small businesses.
Posted: Oct 20, 2020
A federal district court in Minneapolis has rejected a hair salon and barbershop’s effort to collect business interruption coverage from its insurer and granted a motion to dismiss the case, but invited the plaintiff to amend its complaint.
Posted: Oct 20, 2020
Japan said Tuesday it would take countermeasures to ensure next year's Tokyo Olympics are not derailed by cyberattacks after the United States and Britain accused Russia of orchestrating efforts to disrupt the Games.
Posted: Oct 20, 2020
Axis Insurance Co. is collaborating with Kennedys Law LLP to provide marine cyber incident response services, legal advice and ancillary services, the insurer and law firm said Tuesday.
Posted: Oct 20, 2020
Halloween can be a spooky time for homeowners who don’t manage their risk. As highlighted by Forbes magazine on Monday: those decorations and holiday traditions can come with a hefty insurance claim.
Posted: Oct 20, 2020
Axa XL earlier this month named Justin Gress as Americas business transformation leader.
Posted: Oct 20, 2020
Pennsylvania’s House of Representatives unanimously passed a bill Monday that would expand the definition of employee in the state’s Workers Compensation Act to include additional titles of volunteer first responders who would be entitled to compensa...
Posted: Oct 20, 2020
Target Corp. has agreed to correct exit access and storage hazards at 200 stores to improve worker safety as part of a settlement with the U.S. Department of Labor, the federal agency announced Monday.
Posted: Oct 20, 2020
Beacon International Group Ltd., the publisher of Business Insurance, on Tuesday announced the acquisition of insurance media companies on three continents.
Posted: Oct 20, 2020
Travelers Cos. Inc. Tuesday reported a higher net profit for the third quarter but said it has exhausted its $280 million property aggregate catastrophe excess-of-loss reinsurance treaty as catastrophe losses continue to pressure results.
Posted: Oct 20, 2020
Posted: Oct 20, 2020
German reinsurer E + S Ruckversicherung AG expects COVID-19 pandemic-related property insurance claims to reach €1.75 billion ($2.1 billion).
Posted: Oct 20, 2020
Swiss catastrophe data provider Perils AG expects insurance and reinsurance claims related to the hailstorms that struck the Australian state of Queensland on April 19 will total $604 million Australia ($428 million).
Posted: Oct 20, 2020
A study by Russian rating agency Expert RA expects nonlife insurance premiums will decline by 5%-6% year-over-year in the second half of 2020.
Posted: Oct 20, 2020
U.K. government-backed COVID-19 insurance pool worth £500 million ($648 million) has been launched for the television and film sector.
Posted: Oct 20, 2020
A massive fire engulfed the Pakistani city of Lahore's largest electronics market on Oct. 18 and caused billions of Pakistani rupees (millions of dollars) worth of damage.
Posted: Oct 20, 2020
An investigation found that current and former employees of Russia's flagship carrier Aeroflot Airlines helped smuggle $50 million in stolen electronic devices to Russia.
Posted: Oct 20, 2020
American International Group Inc. has named Mohamed Ali Bouabane as chief executive of the Gulf Cooperation Council and North Africa.
Posted: Oct 20, 2020
U.S.-based Berkshire Hathaway Specialty Insurance Co. has launched directors & officers liability and professional indemnity insurance policies in the United Arab Emirates.
Posted: Oct 20, 2020
The convergence of the coronavirus, which has seen a recent surge in cases, with the oncoming flu season could lead to diagnostic errors that will increase medical malpractice claims, some experts say.
Posted: Oct 20, 2020
Reinsurance prices have risen over the past several months, but the level of increases varied widely, experts say.
Posted: Oct 19, 2020
The average indemnity paid for physicians’ medical malpractice claims increased 20% from 2010 to 2019, to $411,053, according to a report issued by Boston-based medical liability insurer Coverys.
Posted: Oct 19, 2020
The pandemic has led to an increase in drug use and opioid overdoses in 2020, making it even more important for the workers compensation industry to scrutinize new prescriptions and monitor claimants who are long-term opioid users, according to a stu...
Posted: Oct 19, 2020