Business Insurance
The alleged theft of gasoline in multiple incidents caused by an incorrect computer program were each too small to reach a fuel distribution company’s deductible, said a federal appeals court, in affirming a lower court’s ruling in favor of a Hannove...
Posted: Sep 08, 2020
David R. Lockhart, formerly president of Berkley Co. unit Gemini Transportation Underwriters, has been named president of another Berkley unit, Carolina Casualty Insurance Co., the Greenwich, Connecticut-based insurer said Tuesday.
Posted: Sep 08, 2020
U.S. commercial insurance rate increases were close to double digits in the second quarter with excess/umbrella and directors and officers liability seeing the biggest spike, according to Willis Towers Watson PLC’s commercial lines insurance pricing...
Posted: Sep 08, 2020
A federal appeals court has affirmed a lower court’s summary judgment in favor of American International Group Inc. units in policyholder litigation over federal regulatory action against Waste Management Inc.
Posted: Sep 08, 2020
Most lines of commercial insurance saw year-over-year increases in average premium renewal rates during August except workers compensation, which saw a negative change in premium, according to insurance exchange Ivans Insurance Services, a division o...
Posted: Sep 08, 2020
More workers with lower back pain are receiving physical therapy to treat their workplace injuries, and that therapy is leading to shorter durations of disability and lower medical costs, according to a study released Tuesday by the Workers Compensat...
Posted: Sep 08, 2020
A Michigan lawmaker introduced a bill Thursday to prohibit employers from taking actions against employees for using their own personal protective equipment at the workplace.
Posted: Sep 08, 2020
Beach & Associates has named Warren Berkstresser as senior vice president of its U.S. reinsurance division, Beach Re.
Posted: Sep 08, 2020
A magazine famous for naming the most beautiful people annually pivoted this month and named the top “Companies that Care” in an effort to honor 50 companies that have gone “above and beyond during the pandemic.”
Posted: Sep 08, 2020
The Virginia House of Representatives on Friday passed a bill that would provide death and disability benefits for certain employees who contract COVID-19 and their families.
Posted: Sep 08, 2020
A report by U.S.-based A.M. Best Co. Inc. expects nonlife insurers in Taiwan will continue to post positive underwriting results, compared with those in other developed markets in the region.
Posted: Sep 08, 2020
Australian government agency Service New South Wales suffered a cyber attack earlier this year, in which the personal data of 186,000 customers and staff were stolen.
Posted: Sep 08, 2020
Typhoon Haishen made landfall in the South Korean port city of Ulsan on Sep.7 and caused widespread damage.
Posted: Sep 08, 2020
Starting Oct. 2, Australia's New South Wales Court of Appeal will hear a test case to examine the application of infectious diseases exclusions in business interruption insurance policies.
Posted: Sep 08, 2020
The merger of six Turkish insurers and pension fund managers has been completed to form the country's largest insurance and pensions company.
Posted: Sep 08, 2020
Seven stores of South African drug retailer Clicks Group Ltd. were damaged and others forced to shut during protests over a racist advertisement posted on the company's website.
Posted: Sep 08, 2020
Ratings agencies Moody's and S&P Global said on Tuesday they expected global reinsurance premium rates to rise at the key January renewal season as companies seek to recoup some of their COVID-19-related losses.
Posted: Sep 08, 2020
The prolonged downturn in air travel brought on by COVID-19 has left many aircraft idle in the United States, prompting concerns about aggregation risk especially in areas exposed to natural catastrophes.
Posted: Sep 08, 2020
German investment funds and insurers have called on the European Union to force credit rating agencies to provide more transparency on the fees they charge for data.
Posted: Sep 07, 2020
British theaters and live music venues say the show will only go on if the government provides a financial backstop, as the COVID-19 pandemic means they can no longer get commercial insurance.
Posted: Sep 07, 2020
Several companies including Toyota Motor Corp., Canon Inc., Daihatsu Motor Co. and Sony Corp. shuttered plants in southern Japan ahead of typhoon Haishen, which made landfall on Sep. 6.
Posted: Sep 07, 2020
Japan-based insurer Sompo Holdings Inc. plans to buy U.S.-based Diversified Crop Insurance Services for up to 50 billion Japanese yen ($470 million), as demand for insurance against losses from extreme weather events rises.
Posted: Sep 07, 2020
Lebanese insurer Chedid Capital Holding is in talks to acquire Monaco-based insurance broker Ascoma Assureurs Conseils.
Posted: Sep 07, 2020
A survey found that the majority of insurers in Europe expect demand for digital products and services to increase significantly in response to the COVID-19 pandemic.
Posted: Sep 07, 2020
Ariff Ali, governor of Fiji's central bank, said that the nation's insurance industry is expected to face challenges this year due to the COVID-19 pandemic.
Posted: Sep 07, 2020