Business Insurance
Turkey-based insurer Turkiye Sigorta AS reported a 117% year-on-year increase in gross premiums to 24.4 billion Turkish lira ($899.7 million) in the first half of this year, Middle East Insurance Review reported. The insurer’s net profit amounted to...
Posted: Aug 07, 2023
Vesttoo Ltd. is in “active discussions” with potential investors to find alternative collateral for clients after discovering fake letters of credit had been used on its platform, a company spokesperson said on Monday.
Posted: Aug 07, 2023
Swiss Reinsurance Company Ltd.’s net income increased to $1.4 billion in the first half of this year, up from $157 million in the first half of 2022, Reinsurance News reported. The increase in net income was driven by fewer natural catastrophe losses...
Posted: Aug 07, 2023
Berkshire Hathaway on Saturday posted its highest-ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit.
Posted: Aug 07, 2023
A Texas appellate court ruled a trial court wrongly compelled Home Depot USA Inc. to produce certain documents and materials sought by an employee in an injured worker case.
Posted: Aug 04, 2023
Stemming from social media posts that fraud inspectors tend to like, it was discovered that two “strangers” involved in a car accident in Hialeah, Florida, in August 2022 actually knew each other, staged the wreck and attempted to bilk their insurers...
Posted: Aug 04, 2023
A Pennsylvania appellate court on Thursday reversed a workers compensation judge’s decision granting loss benefits to a Hershey Co. worker whose leg was surgically amputated after he developed a diabetic foot ulcer.
Posted: Aug 04, 2023
An audit of the Maryland Workers’ Compensation Commission found that regulators failed to track employers that do not carry workers compensation insurance and failed to keep adequate compliance records.
Posted: Aug 04, 2023
Cayman Islands-based Greenlight Reinsurance Ltd.’s net income increased to $49.9 million in the second quarter of this year from $14.8 million in the year-ago comparative period, mainly due to increased property and general liability business pricing...
Posted: Aug 04, 2023
A recent analysis by U.K.-based Comparitech Ltd. showed that 478 manufacturing companies suffered a ransomware attack between 2018 and this year, leading to a loss of approximately $46.2 billion in downtime alone, IT Security Guru reported. The analy...
Posted: Aug 04, 2023
Swiss catastrophe data provider Perils AG has increased its insured and reinsured loss estimates for the severe flooding that affected the Auckland region between Jan. 27 and Feb. 2, by 18% to $2 billion New Zealand ($1.21 billion), Artemis reported....
Posted: Aug 04, 2023
French insurer Axa SA’s profit increased by 5% year-on-year to €4.11 billion ($4.49 billion) in the first half of the year, driven by higher premiums and below-average damage claims for natural catastrophes in the firm’s property and casualty busines...
Posted: Aug 04, 2023
The continuing fallout from the Vesttoo scandal continues to dominate the news, accounting for four stories in this week’s Top 10.
Posted: Aug 04, 2023
Lula Technologies Inc. said Friday it has raised $35.5 million in a Series B funding round led by tech investment firms Nextview Management Co. LLC and Khosla Ventures LLC.
Posted: Aug 04, 2023
Ryan Specialty Holdings Inc. reported a 19.1% increase in second-quarter revenue to $585.1 million on Thursday.
Posted: Aug 03, 2023
BMS Group Ltd. said Thursday that Gallagher Re executive Chris Brook will join the insurance and reinsurance brokerage next year as chief operating officer.
Posted: Aug 03, 2023
Insurtech Next Insurance Inc. has added umbrella and excess liability to its range of coverages for small businesses.
Posted: Aug 03, 2023
New funding for the global insurtech sector dropped to $916.71 million during the second quarter of 2023, down 61.9% from the year-earlier period, according to a report Thursday from Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
Posted: Aug 03, 2023
A Maryland appellate court Wednesday upheld a jury award of workers compensation benefits for a retired volunteer firefighter diagnosed with throat cancer.
Posted: Aug 03, 2023
The National Labor Relations Board Wednesday made it more difficult for businesses to defend workplace rules that could interfere with employees’ rights to join unions, as part of a case involving waste disposal company Stericycle.
Posted: Aug 03, 2023
A California appeals court on Wednesday declined to revisit the case of a woman prosecuted for workers compensation fraud, ruling that reopening the matter would prejudice the defendant.
Posted: Aug 03, 2023
The U.S. Occupational Safety and Health Administration has cited a Texas construction company for endangering workers by not providing adequate fall protection systems.
Posted: Aug 03, 2023
Northern cities in Taiwan, including the capital Taipei, on August 3 shut businesses, as the slow-moving Typhoon Khanun brushed past the island’s northeast amidst warnings of high winds and floods, Reuters reported. The typhoon also forced the cancel...
Posted: Aug 03, 2023
The Catalonia region in northeastern Spain on Aug. 2 declared a drought emergency in 24 municipalities after a severe lack of rain in recent years, with plans to reduce irrigation water for agriculture by 80% and supplies for industrial use by 25%, A...
Posted: Aug 03, 2023
U.S.-based insurance broker Acrisure LLC is acquiring Bulgaria-based insurance broker SDI Group OOD (Ltd.) through its Polish subsidiary Unilink SA, with the deal likely to close by the end of September, SeeNews reported. On completion of the acquisi...
Posted: Aug 03, 2023