Business Insurance
Japan’s Financial Services Agency suspects that some major property insurers in the country have colluded over insurance premiums for big corporate customers like Eneos Holdings Inc., East Japan Railway Co., and Narita International Airport Corp., No...
Posted: Aug 03, 2023
Israeli fintech Vesttoo is considering the removal of its CEO and chief financial engineer, its board said in a statement Thursday, following a fake collateral scandal that analysts said could impact the wider insurance market.
Posted: Aug 03, 2023
While consumer prices for energy, food and housing between 2021 and 2022 saw drastic increases, there’s little evidence such inflationary pressures affected workers compensation medical costs, according to a report released Thursday by the Workers Co...
Posted: Aug 03, 2023
Rich Lenkov, founder/CEO of the Sports & Entertainment Risk Management Alliance, discusses risk management and insurance for productions and players.
Posted: Aug 02, 2023
Looks like a man suing Buffalo Wild Wings over its boneless chicken wings is playing a game of legal chicken with the company, which has at least twice publicly poked fun at the lawsuit.
Posted: Aug 02, 2023
An insurer does not have to pay a $2.5 million judgment against a bar owner and operator won by a bystander who was injured in a shooting because of an assault and battery policy exclusion, a federal appeals court ruled Tuesday in affirming a lower c...
Posted: Aug 02, 2023
A yacht’s hurricane protection plan is incorporated by reference into its insurance policy, a federal appeals court said Tuesday in affirming a lower court’s ruling in favor of a Munich Re unit in litigation over a yacht that sank during a hurricane.
Posted: Aug 02, 2023
A California appellate court has overturned a longstanding practice of the state’s Workers’ Compensation Appeals Board involving cases where parties in comp claims petition for a reconsideration of decisions by either the board or a comp judge.
Posted: Aug 02, 2023
Howden Insurance Brokers India Pvt. Ltd. has appointed Amit Agarwal as its chief executive, effective Aug. 1, Reinsurance News reported. Mr. Agarwal joined Howden India in 2019 as a managing director and led its liability and specialty risks practice...
Posted: Aug 02, 2023
Lloyd's Insurance Company S.A. shuttered its European branch offices in Finland, Austria, and Poland on July 31, but it will continue to provide services to these locations without a formal office, Reinsurance News reported. It will pursue insurance...
Posted: Aug 02, 2023
According to U.K.-based insurance broker Aon PLC, the total economic and insured losses resulting from the flash flooding in July on the Japanese islands of Honshu and Kyushu can potentially reach tens of millions of dollars, Asia Insurance Review re...
Posted: Aug 02, 2023
Japan’s ministry of transport said that a total of 951 flights were canceled on Aug. 1 and 2 and 35 ferry lines also suspended operations as Typhoon Khanun approached the country’s southwestern islands, Al Jazeera reported. The airport in Naha, which...
Posted: Aug 02, 2023
American International Group Inc.’s sale of Validus Re, which it announced in May, will significantly reduce the volatility of the insurer’s business and cut its catastrophe exposure, AIG’s top executive said Wednesday while discussing the company’s...
Posted: Aug 02, 2023
Hylant Group Inc. on Tuesday named Anne Marie Towle CEO of its global risk management business.
Posted: Aug 02, 2023
The workers compensation industry is seeing a rise in the percentage of claims containing prescriptions for drugs used to manage opioid dependency or overdoses, even as claims with opioids continue to decline.
Posted: Aug 02, 2023
Business Insurance announced the winners of the 2023 U.S. Insurance Awards during a live awards presentation in New York on Wednesday, July 19, 2023. Also honored during the event were the winners of the 2023 Innovation Awards and the recipient of th...
Posted: Aug 02, 2023
American International Group Inc. exceeded second-quarter profit expectations, driven by growth in its life and retirement unit and lower-than-expected catastrophe losses in what was a very expensive quarter for the industry.
Posted: Aug 01, 2023
Lockton Cos. LLC and two former employees are suing one another in federal court in Kansas City, Missouri, and California state court over the issue of whether nonsolicitation agreements are enforceable in Missouri.
Posted: Aug 01, 2023
Louis Reynaud, senior vice president and climate risk resiliency practice leader at Galway Holdings, outlines the challenges that policyholders face when it comes to wildfire risk and what insurers can do to help buyers address the exposure.
Posted: Aug 01, 2023
In a classic case of the provided food doesn’t meet the expectations of that which is advertised, a New York man is suing Taco Bell over allegations that the fast-food restaurant short-changed customers on beef, beans and other fixings.
Posted: Aug 01, 2023
Brokerage PCF Insurance Services said Tuesday it had closed $400 million in debt financing led by alternative asset manager Blue Owl Capital Inc., one of its existing minority investors.
Posted: Aug 01, 2023
Marsh McLennan Agency, the small and midsized brokerage unit of Marsh LLC, said Tuesday it has acquired Philadelphia-based brokerage Graham Co.
Posted: Aug 01, 2023
New York-based cyber managing general agent Converge Inc. on Tuesday said it has secured $15 million in Series A funding from venture capital firm ForgePoint Capital Management LLC.
Posted: Aug 01, 2023
A federal appeals court said Monday that a lower court’s ruling that Liberty Mutual units did not have to indemnify a policyholder in a pollution case was premature.
Posted: Aug 01, 2023
The U.S. Occupational Safety and Health Administration has cited a Miami-based excavation contractor after a worker drowned while removing debris from an eight-foot canal.
Posted: Aug 01, 2023