Business Insurance
A federal district court in Philadelphia has become the latest court to rule against a policyholder in COVID-19 litigation, holding that an attorney does not have business interruption coverage because of a virus exclusion in her policy.
Posted: Oct 02, 2020
White Mountains Insurance Group Ltd. on Thursday said it has agreed to invest fresh capital in and acquire a 72% stake in Ark Insurance Holdings Ltd., parent company of Lloyd’s of London insurer Ark Syndicate Management Ltd.
Posted: Oct 02, 2020
The Occupational Safety and Health Review Commission vacated a citation against a marine construction company stemming from the deaths of two workers after ruling that the U.S. Occupational Safety and Health Administration cited a violation of the in...
Posted: Oct 02, 2020
London’s High Court on Friday approved a fast-track appeal of an unprecedented test case against some of the world’s biggest insurers, brought by Britain’s markets regulator, allowing it to leapfrog straight into the Supreme Court.
Posted: Oct 02, 2020
The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC, Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate...
Posted: Oct 02, 2020
The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC, Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate...
Posted: Oct 02, 2020
Amazon.com Inc. on Thursday said more than 19,000 of its U.S. frontline workers contracted the coronavirus this year, or 1.44% of the total, a disclosure sought by labor advocates who have criticized the COVID-19 response of the world’s largest onlin...
Posted: Oct 02, 2020
Wholesale insurance broker Worldwide Facilities LLC of Los Angeles has acquired managing general underwriter Hunt Jorgensen LLC of Maywood, New Jersey, Worldwide said in a statement Friday.
Posted: Oct 02, 2020
The Federal Trade Commission is warning consumers this week that if they receive an email from its Chairman Joseph Simons promising unclaimed inheritance to not respond or open it.
Posted: Oct 02, 2020
An administrative law judge with the California Workers’ Compensation Appeals Board has dismissed liens valued at $18 million filed by a convicted medical provider, which the California Department of Industrial Relations said Thursday falls in line w...
Posted: Oct 02, 2020
Swiss Re Corporate Solutions, part of Swiss Re Ltd., on Friday named Laura Coppola global head of its financial and professional liability business and made two other senior appointments in a push to grow the line of business.
Posted: Oct 02, 2020
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