Business Insurance
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
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