Business Insurance
Munich Re Specialty Insurance has launched tailored cyber and technology errors and omissions coverages with limits of up to $10 million, designed to protect U.S.-based organizations with domestic and/or global exposure.
Posted: Oct 23, 2020
AssuredPartners Inc. has acquired J. Matsock & Associates Inc. of Naperville, Illinois, Assured said in a statement Friday.
Posted: Oct 23, 2020
A rare victory by policyholders in COVID-19-related business interruption litigation tops this week’s news. Meanwhile, earnings season is underway, with Travelers Cos. Inc. posting a higher third-quarter profit, and W.R. Berkley Corp. reporting a dec...
Posted: Oct 23, 2020
Hong Kong's Securities and Futures Commission has fined U.S.-based Goldman Sachs Group Inc. $350 million for its role in the now-defunct sovereign wealth fund 1Malaysia Development Berhad's bribery scandal.
Posted: Oct 23, 2020
France-based information technology company Sopra Steria Group SA suffered a cyber attack on Oct. 20, which encrypted portions of its network.
Posted: Oct 23, 2020
A report by Japan-based The Toa Reinsurance Co. Ltd. said that local nonlife insurers' premiums grew nearly 3% year-over-year to 8.6 trillion Japanese yen ($82 billion) in the financial year ended March 31.
Posted: Oct 23, 2020
A report by France-based investigative journalism organization Disclose said that the country’s largest dairy firm, Groupe Lactalis SADIR, has been polluting the country's waterways over the past decade,
Posted: Oct 23, 2020
The Canadian province of Ontario has introduced a legislation to protect businesses and their employees from COVID-19 pandemic-related liability lawsuits.
Posted: Oct 23, 2020
A 6.0-magnitude earthquake hit northern Chile on Oct. 21 and caused light to moderate damage.
Posted: Oct 23, 2020
Walmart Inc. said on Thursday it had filed a lawsuit against the federal government, seeking clarity on the roles and legal responsibilities of pharmacists and pharmacies in filling opioid prescriptions.
Posted: Oct 23, 2020
Italy's tax police raided the offices of state railway Ferrovie dello Stato (FS) and Generali to gather documents in a probe related to the awarding of contracts to the Italian insurer, a document seen by Reuters on Friday showed.
Posted: Oct 23, 2020
The U.S. Department of Labor’s Office of Federal Contract Compliance Programs on Thursday published a Request for Information on federal contractor and subcontractor’s diversity training, as required by the executive order issued by President Trump i...
Posted: Oct 22, 2020
Taiwanese contract chipmaker United Microelectronics Corp. said on Thursday it hoped a business espionage lawsuit brought by the U.S. Department of Justice against the company could be settled soon.
Posted: Oct 22, 2020
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