Business Insurance
The Department of Labor has cited a Family Dollar Inc. store in Orlando, Florida, for willful and repeat safety violations in connection with a fatal shoplifting incident and proposed $330,446 in penalties.
Posted: Jul 25, 2022
Falvey Insurance Group has introduced a comprehensive liability coverage package policy for logistic service providers and transport operators.
Posted: Jul 21, 2022
Brokerages Virtus LLC in Overland Park, Kansas, and Kemmons Wilson Insurance Group LLC in Memphis, Tennessee, have merged, creating a company with about $20 million in revenue, the companies said in a statement Thursday.
Posted: Jul 21, 2022
The U.S. Department of Justice’s resolutions under the False Claims Act, which totaled more than $500 million during this year’s first half, have outpaced activity in the comparable period in 2021, but many of them have been “relatively modest,” says...
Posted: Jul 21, 2022
W.R. Berkley Corp. on Thursday reported a 22.4% decrease in net income, to $279.3 million in the second quarter.
Posted: Jul 21, 2022
Travelers Cos. Inc. on Thursday reported a lower profit for the second quarter as catastrophe losses rose and investment income dropped, but the insurer saw revenue rise as rates and insured exposures continued to increase.
Posted: Jul 21, 2022
Who-oooo will launch your latest ad campaign? For Mercury Insurance, it’s the music artist Jewel.
Posted: Jul 21, 2022
Marsh & McLennan Cos. Inc. reported a double-digit increase in underlying revenue in the second quarter and expects continued growth in 2022 despite the rising risk of a recession.
Posted: Jul 21, 2022
Most major lines of commercial insurance experienced quarter-over-quarter increases in average premium renewal rate change, with umbrella a notable exception, Ivans Insurance Services reported Thursday.
Posted: Jul 21, 2022
As California lawmakers for the second year consider reducing the amount of time allowed for workers compensation claims administrators to investigate the compensability of occupational injury or illness claims, an analysis by the California Workers’...
Posted: Jul 21, 2022
Willis Towers Watson PLC said Thursday it has recruited five executives — two from Aon PLC, two from Marsh & McLennan Cos. Inc., and one from USI Insurance Services LLC — to its North American natural resources business in Houston.
Posted: Jul 21, 2022
A federal appeals court on Wednesday overturned a lower court and reinstated medical products liability litigation filed by a patient against a breast implant manufacturer, ruling state law did not preempt the lawsuit.
Posted: Jul 21, 2022
Written premium in 2021 didn’t recover from the shockwaves of the COVID-19 pandemic as expected, but officials with the Workers’ Compensation Insurance Rating Bureau of California said they’re optimistic of a return this year to pre-pandemic levels.
Posted: Jul 21, 2022
A downward trend in the number of securities class actions filed against public companies continued in the first half and, if it holds, means litigation in this area will be down for the third straight year, says a report issued Wednesday.
Posted: Jul 20, 2022
The Illinois Insurance Department filed suit against units of Hartford Financial Services Group Inc. and Munich Re on Monday seeking recovery of $3.98 million stolen in a phishing scheme.
Posted: Jul 20, 2022
Christine Brown has been named to succeed Sandy Bigglestone as director of captive insurance at the Vermont Department of Financial Regulation in Montpelier.
Posted: Jul 20, 2022
With gas prices and the economy, not to mention near-daily news of air travel headaches and an ongoing pandemic, one might think vacations might be put on the back burner for the summer at least.
Posted: Jul 20, 2022
A North Carolina appeals court on Tuesday affirmed a lower court ruling in an insurer’s favor in a COVID-19-related business interruption case filed by the owner of a vacation rental property.
Posted: Jul 20, 2022
Munich Re Specialty Insurance Co. said Wednesday it has recruited former Chubb Ltd. underwriting leader Sean O’Connell as head of excess and surplus primary casualty.
Posted: Jul 20, 2022
Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.
Posted: Jul 20, 2022
U.S.-based insurer Berkshire Hathaway Specialty Insurance has opened a new office in Zurich, Switzerland, and appointed Leander Metzger as country manager.
Posted: Jul 20, 2022
An executive with Australia-based Honan Insurance Group Pty Ltd. said that most Australian cyber insurance markets have reduced their capacity by 50% on average, as they demand clients do more to avoid cyber attacks.
Posted: Jul 20, 2022
South-Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. said that it was losing 26 billion South Korean won ($19.8 million) a day due to a workers' strike at a main dock, resulting in an accumulated loss of about KRW570 billion won as of Jul...
Posted: Jul 20, 2022
Germany's vast chemicals industry has few options left to conserve natural gas amid uncertainty over Russian supplies, with companies risking production shutdowns in case the supply situation worsens.
Posted: Jul 20, 2022
Civil society organizations are demanding full compensation in a $4.5 billion lawsuit against Spanish energy firm Repsol SA and others for a major oil spill in January in Ventanilla, Peru.
Posted: Jul 20, 2022