Business Insurance
News of a cybersecurity breach at Gallagher Bassett Services Inc. has attracted plenty of attention in a week that’s also seen a number of executive moves.
Posted: Oct 02, 2020
India-based National Insurance Co. Ltd.'s loss widened to 41 billion Indian rupees ($556 million) in the financial year ended March 31, compared with nearly INR 17 billion in the previous year, due to a huge rise in claims and expenses.
Posted: Oct 02, 2020
U.S.-based home-sharing platform Airbnb Inc. could face a potentially "massive" fine for a data breach that allowed some of its users in Europe to view other users' private inboxes last week.
Posted: Oct 02, 2020
South Africa-based insurer African Risk Capacity Ltd. has partnered with Kenyan agricultural insurer Pula to protect African farmers from climatic risks.
Posted: Oct 02, 2020
The Insurance Authority of Hong Kong said that local insurers' gross written premiums grew 10.2% year-on-year to nearly $567 billion Hong Kong ($73.2 billion) in 2019.
Posted: Oct 02, 2020
Bruno Le Maire, finance minister of France, said that the country needs a law requiring insurers to cover businesses for losses linked to future pandemics.
Posted: Oct 02, 2020
Analysis by Qatar-based Bait Al Mashura Finance Consultations revealed that five takaful insurers' premiums grew 5.5% year-over-year to nearly 1.3 billion Qatari rial ($355 million) in 2019.
Posted: Oct 02, 2020
The Kenyan government has exempted insurers from complying with capital requirements for six months as they face increased claims and receive lower premiums during the COVID-19 pandemic.
Posted: Oct 02, 2020
Universal Health Services Inc. said on Thursday that its corporate network is being restored after a malware incident knocked it out for five days.
Posted: Oct 01, 2020
Hilton Worldwide Holdings Inc. will pay $600,000 to settle U.S. Securities and Exchange Commission charges related to the travel perks it allegedly provided its executives.
Posted: Oct 01, 2020
Facilitating ransomware payments to sanctioned hackers may be illegal, the U.S. Treasury said on Thursday, signaling a crackdown on the fast-growing market for consultants who help organizations pay off cybercriminals.
Posted: Oct 01, 2020
A Texas judge on Thursday acquitted the U.S. arm of French chemical maker Arkema SA and a top executive of criminal recklessness stemming from a 2017 blaze that injured 21 people, a verdict that ended all charges against its managers.
Posted: Oct 01, 2020
Liberty Mutual Insurance Group will provide coverage for drivers using the Lyft rideshare platforms in Arizona, Michigan, New Mexico, Texas and Utah, the insurer said in a statement Thursday.
Posted: Oct 01, 2020
A W.R. Berkley Corp. unit is obligated to provide coverage to a solar panel company because of the business interruption that occurred when its solar panels were shut down following a fire, a federal district court ruled.
Posted: Oct 01, 2020
Ontellus, nationwide full-service procurer of medical, billing, employment records, and other claims related data services, announced Thursday it has acquired digital platforms INTERTEL and MasterTrace.
Posted: Oct 01, 2020
Technology is helping the insurance industry navigate obstacles that have arisen during the COVID-19 pandemic, but the sector generally been slow to adopt new technology, a panel of experts said.
Posted: Oct 01, 2020
Cybersecurity firm Hub Security is teaming with Marsh & McLennan Cos. Inc. to offer cold storage insurance for U.S.-based financial institutions offering digital asset custodial services, Tel Aviv, Israel-based Hub said in a statement Thursday.
Posted: Oct 01, 2020
Wholesaler CRC Insurance Services Inc. said Thursday it has acquired Shreveport, Louisiana-based managing general agency and surplus lines broker Specialty Risk Associates Inc.
Posted: Oct 01, 2020
Axis Insurance Co. said Thursday it has hired four senior underwriters — two from Chubb Ltd., and one each from Arthur J. Gallagher & Co. and Starr Cos. — to its U.S. management liability team.
Posted: Oct 01, 2020
The U.S. Senate Commerce Committee on Thursday unanimously voted to approve a plan to subpoena chief executives of Twitter, Alphabet’s Google and Facebook for a hearing likely to be held before the election on a prized legal immunity enjoyed by inter...
Posted: Oct 01, 2020
A man who took several full-duty positions at other companies following his workplace back injury is not entitled to workers compensation, an appellate court ruled Wednesday.
Posted: Oct 01, 2020
MedRisk LLC named Danielle Lisenbey president, the workers compensation managed care firm announced Thursday.
Posted: Oct 01, 2020
MedRisk LLC named former Crawford & Co. executive Danielle Lisenbey president, the workers compensation managed care firm announced Thursday.
Posted: Oct 01, 2020
The California Department of Industrial Relations has fined five Los Angeles-area grocery stores between $13,500 and $25,560 for failing to protect workers from exposure to COVID-19 because they did not update their workplace safety plans to properly...
Posted: Oct 01, 2020
U.N. shipping agency the International Maritime Organization said on Thursday its website and intranet had been disabled by a sophisticated cyberattack and its IT specialists had shut down key systems to prevent further damage.
Posted: Oct 01, 2020