Business Insurance
Russia's environment watchdog has sued mining firm MMC Norilsk Nickel PJSC for 148 billion Russian rubles ($2 billion) over environmental damage caused by a fuel leak earlier this year.
Posted: Sep 11, 2020
Businesses and risk management professionals are continuing to struggle to manage the complexities of the COVID-19 pandemic as many existing insurance policies fail to cover its impact, a leading risk manager for a restaurant chain said Thursday.
Posted: Sep 11, 2020
Executive moves have been much in the news, with Berkley Co., Zurich Insurance Group and Marsh Ltd. announcing changes. Meanwhile, commercial insurance rates are on the rise.
Posted: Sep 11, 2020
Australia-based gambling and entertainment firm The Star Entertainment Group Ltd. has sued Chubb Ltd. for allegedly denying its COVID-19 pandemic-related business interruption claims.
Posted: Sep 11, 2020
A huge fire has ripped through Beirut's port, where a blast killed more than 200 people and injured 6,500 others last month.
Posted: Sep 11, 2020
A survey by the Irish SME Association found that more than 5% of small and medium-sized companies feel they will go out of business within the next month, due to the financial strains as a result of the COVID-19 pandemic and Brexit.
Posted: Sep 11, 2020
Demands made in ransomware attacks have increased sharply with the COVID-19 pandemic, says a report issued Thursday.
Posted: Sep 11, 2020
Posted: Sep 10, 2020
The producers of a planned thriller starring Ben Affleck, whose April production start date was postponed because of COVID-19, sued a Chubb Ltd. unit on Wednesday over its refusal to extend its insurance coverage to accommodate the delay.
Posted: Sep 10, 2020
Risk Strategies Co. Inc. said Thursday it has acquired Philadelphia-based specialty brokerage Securitas Insurance Partners LLC.
Posted: Sep 10, 2020
Walmart Inc. will pay $20 million to settle a U.S. Equal Employment Opportunity Commission lawsuit and stop using a pre-employment test that allegedly disproportionately excluded female applicants, the agency said Thursday.
Posted: Sep 10, 2020
American International Group Inc. on Thursday named Chris Rash CEO of its Lloyd’s of London unit Talbot Underwriting Ltd.
Posted: Sep 10, 2020
An insurer is obligated to defend energy company Phillips 66 Co. in litigation filed by the family of a truck driver who died of benzene-induced blood and bone marrow cancer, a federal district court says.
Posted: Sep 10, 2020
A federal appeals court in New York on Wednesday dismissed several consolidated lawsuits filed by more than two dozen former professional wrestlers who claimed their work for the World Wrestling Entertainment Inc. caused “significant” lifelong mental...
Posted: Sep 10, 2020
Microcaptive owners who alleged they were duped into breaching U.S. tax laws when they formed their captives can’t bring a class action lawsuit against their captive manager but must instead arbitrate their disputes individually with the Arthur J. Ga...
Posted: Sep 10, 2020
The California Workers Compensation Insurance Rating Bureau voted Wednesday to amend its Jan. 1, 2021, pure premium rate filing to reflect updated information on COVID-19 claims, the ratings agency announced in a statement.
Posted: Sep 10, 2020
Marsh Ltd. named Dean Klisura president of Guy Carpenter & Co. LLC, the reinsurance business of Marsh & McLennan Ltd., effective Oct. 1, 2020.
Posted: Sep 10, 2020
The California Division of Occupational Safety and Health slapped a food manufacturer and its staffing company with more than $400,000 in combined penalties for allegedly failing to protect workers at two plants from COVID-19, the agency said in a st...
Posted: Sep 10, 2020
Better mute that Zoom session or conference call. The mailman is here. A car is pulling in the driveway. Then there’s the doorbell. The doorbell on a television show. And the inevitable barking for no reason.
Posted: Sep 10, 2020
Boeing Co. is submitting to an independent review of its compliance and ethics practices, according to an agreement struck with NASA and the U.S. Air Force and seen by Reuters, part of widening fallout from its behavior in bidding to supply lunar lan...
Posted: Sep 10, 2020
Brit Ltd. on Thursday named chief financial officer Mark Allan as CEO of Ki, its digital Lloyd’s of London syndicate launched with Google Cloud.
Posted: Sep 10, 2020
Sedgwick Claims Management Services Inc. has hired former Walmart Inc. risk manager David Stills to the newly created position of global risk manager executive.
Posted: Sep 10, 2020
Fateh Bekdache, chief executive of Lebanon-based Arope Insurance SAL, said that insurers could face Beirut blast-related claims of $2 billion.
Posted: Sep 10, 2020
The French competition authority has fined Swiss pharmaceutical firms Novartis AG and Roche Holding AG €385 million ($455 million) and €60 million ($71 million), respectively, for alleged anti-competitive practices.
Posted: Sep 10, 2020
French reinsurer Scor SE's insurance-linked securities assets under management rose to $2.4 billion at the end of June from $2.2 billion at the end of last year.
Posted: Sep 10, 2020