Business Insurance
A Berkshire Hathaway Inc. unit is not obligated to defend or indemnify a Nevada doctor under his professional liability policy in a wrongful death suit filed in connection with a judge’s opioid-related death because he had engaged in a “willful viola...
Posted: Oct 22, 2020
The IRS on Thursday said it would make another settlement offer to microcaptive owners whom it alleges breached tax rules through their abuse of the alternative risk transfer vehicles.
Posted: Oct 22, 2020
The U.S. property/casualty insurance industry’s asbestos and environmental loss payments continue to outpace incurred losses, A.M. Best Co. said in a report issued Thursday.
Posted: Oct 22, 2020
Applied Underwriters Inc. and the State of California continue their battle over California Insurance Co., a subsidiary of Applied that allegedly tried to move its domicile to New Mexico without approval after Berkshire Hathaway Inc. sold off the wor...
Posted: Oct 22, 2020
Marsh LLC has named former Aon PLC executive Eddie Albers to lead its U.S. life sciences practice, the brokerage said in a statement Thursday.
Posted: Oct 22, 2020
A North Carolina state court judge has ruled in favor of a group of restaurants in pandemic-related business interruption litigation, holding the state’s order to close the restaurants was a covered physical loss under their policies.
Posted: Oct 22, 2020
The impact of the COVID-19 pandemic on insurance agency mergers and acquisitions activity was significant. Note the past tense nature of that first sentence because based on third-quarter M&A activity, the deal community appears to be saying “What CO...
Posted: Oct 22, 2020
Researchers with Harvard University found that universal mask-wearing among health care workers “significantly mitigates” COVID-19 infections, according to a study published Wednesday in the academic journal Occupational Medicine.
Posted: Oct 22, 2020
Liberty Specialty Markets, part of Liberty Mutual Insurance Co., has promoted Ronald Bolaños to president, U.S. and Latin America, including specialty insurance and facultative reinsurance, the parent company said in a statement Thursday.
Posted: Oct 22, 2020
Despite substantial reductions in recent years, opioids continue to be widely dispensed to workers with work-related injuries in several states, according to a study released Thursday by the Workers Compensation Research Institute.
Posted: Oct 22, 2020
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