Business Insurance
COVID-19 has not yet caused an increase in merger and acquisition-related insurance claims but the pandemic will likely lead to new trends in the sector, according to a report issued by Liberty Mutual Insurance Co. on Monday.
Posted: Sep 14, 2020
(Reuters) – Connecticut filed a lawsuit on Monday against oil giant Exxon Mobil Corp. for misleading the public over the impacts of climate change, becoming the latest state to target the fossil fuel industry for violating state consumer protection l...
Posted: Sep 14, 2020
Minnesota lawmakers have introduced a bill to make it easier for teachers and other school workers to receive workers compensation if they contract COVID-19 on the job.
Posted: Sep 14, 2020
A worker for a disability services provider in Ohio who applied for temporary total disability after filing a workers compensation claim following a back sprain in 2015 and who tested positive for marijuana use could still be entitled to benefits, th...
Posted: Sep 14, 2020
Insurtech investments this year have been robust despite the COVID-19’s economic fallout and could approach 2019’s record-breaking year, says a report issued Monday.
Posted: Sep 14, 2020
Alliant Insurances Services Inc. on Monday named former Willis Towers Watson PLC broker Larry Shapiro to lead its representations and warranties business.
Posted: Sep 14, 2020
A pair of San Diego barbershops can’t recover income lost due to coronavirus-related shutdowns from their insurer, a federal court ruled on Friday.
Posted: Sep 14, 2020
Lloyd’s of London on Monday named former American International Group Inc. insurtech executive Uwe Schoberth as U.S. market development director, based in Chicago.
Posted: Sep 14, 2020
Fateh Bekdache, chief executive of Lebanon-based Arope Insurance SAL, said insurers are unable to pay the claims related to the Aug. 4 blast at the Beirut port as the reason behind the explosion is still being investigated.
Posted: Sep 14, 2020
Indian tours and travel firm Cox & Kings Ltd.'s promoter said that some of its workers conspired with a bank to misappropriate funds, causing losses of more than 55.6 billion Indian rupees ($756 million).
Posted: Sep 14, 2020
A report by the Bank of Russia said that local insurers' profit increased more than 21% year-over-year to surpass 149 billion Russian rubles ($2 billion) in the first half of 2020.
Posted: Sep 14, 2020
Dennis Kessler, chief executive of France-based Scor SE, does not expect any issues in placing the reinsurer's retrocession program this year.
Posted: Sep 14, 2020
South Africa-based insurer African Risk Capacity is conducting a pilot study of a flood risk tool that could lead to the launch of parametric flood insurance.
Posted: Sep 14, 2020
The GFZ German Research Center for Geosciences said that an earthquake of magnitude 6.5 struck northern Chile on Sep. 11.
Posted: Sep 14, 2020
While benefiting from an 11.2% increase in premium growth last year, the excess and surplus lines market is now facing the combined challenge of COVID-19’s impact and the current hurricane season, executives say.
Posted: Sep 11, 2020
The surplus lines market posted an 11.2% increase in premium growth in 2019 to $39.06 billion, the equivalent of 2018, but business this year could be hampered by COVID-19’s impact, says A.M. Best Co., in its annual report on the sector issued Thursd...
Posted: Sep 11, 2020
California Gov. Gavin Newsom is now considering three separate bills that aim to tackle workplace safety issues during the COVID-19 pandemic.
Posted: Sep 11, 2020
Workers compensation medical payments and claims with an opioid prescription in California continued to decline in 2019, according to a study released Thursday by the Workers Compensation Insurance Rating Bureau.
Posted: Sep 11, 2020
A federal appeals court has overturned a lower court ruling and reinstated a personal injury lawsuit filed by a Carnival Corp. passenger who hurt her leg and knee in a trip-and-fall, ruling there was evidence the company may have known about a danger...
Posted: Sep 11, 2020
Bayer CEO Werner Baumann's contract has been extended until 2024, in a show of support from the drugmaker's new chairman just months after the company agreed to an $11 billion outline settlement of U.S. lawsuits over its Roundup weedkiller.
Posted: Sep 11, 2020
A U.S. Occupational Safety and Health Administration officer and his brother have been accused of trying to extort money from a New Jersey general contractor.
Posted: Sep 11, 2020
Around half a million people in Oregon evacuated as dozens of extreme, wind-driven wildfires scorched U.S. West Coast states on Friday, destroying thousands of homes and killing at least 16 people, state and local authorities said.
Posted: Sep 11, 2020
Brown & Brown of Tennessee Inc., a subsidiary of Brown & Brown Inc., has acquired the Frank E. Neal & Co. Agency of Nashville, Tennessee, Brown & Brown said Friday.
Posted: Sep 11, 2020
Lloyd's of London expects its members will pay around $6.5 billion of gross claims related to the COVID-19 pandemic, with around 40% of the total likely to be covered by reinsurance.
Posted: Sep 11, 2020
South Africa-based insurer Sanlam Ltd. reported a net loss of 3.5 billion South African rand ($209 million) in the first half of the year, compared with a profit of ZAR 3.4 billion in the year-ago period.
Posted: Sep 11, 2020