Business Insurance
Most companies that own captive insurers plan to increase their use of the alternative risk transfer vehicles in response to difficult insurance market conditions, according to a Marsh LLC report released Thursday.
Posted: Sep 17, 2020
A worker’s depression, anxiety and chronic pain syndrome are casually related to his workplace injury, a Texas appellate court held Tuesday.
Posted: Sep 17, 2020
A Tokio Marine Group unit insurer is not obligated to defend or indemnify a dance and performance company for an accident involving a trampoline under a policy exclusion, a federal district court said Wednesday.
Posted: Sep 17, 2020
Optio Group Ltd., including managing general agents Ascent Underwriting LLP, Cove Programs Insurance Services LLC and Optio Underwriting Ltd., has added active assailant cover to its political violence and terrorism offering.
Posted: Sep 17, 2020
Ki, the digital Lloyd’s of London syndicate launched by Brit Ltd. and Google Cloud, said Thursday it has raised $500 million in capital from private equity firm The Blackstone Group Inc. and Fairfax Financial Holdings Ltd.
Posted: Sep 17, 2020
Zurich North America on Thursday announced its occupational accident and employers work injury liability insurance policy for nonsubscribers to the workers compensation system in Texas.
Posted: Sep 17, 2020
The Oregon Occupational Safety and Health Administration has issued more than $23,000 in fines to two businesses for refusing to carry out steps to help protect workers from the coronavirus disease.
Posted: Sep 17, 2020
Industry veteran John Boylan has launched Arcadian Risk Capital Ltd., a Bermuda-based managing general agent, backed by Third Point Reinsurance Ltd.
Posted: Sep 17, 2020
U.S.-based A.M. Best Co. Inc. expects COVID-19 pandemic-related business interruption claims to hurt U.K. commercial property insurers' earnings this year, following a court's ruling in the Financial Conduct Authority's BI insurance test case.
Posted: Sep 17, 2020
A huge fire at Italy's Ancona port has caused significant damage, but no injuries have been reported so far.
Posted: Sep 17, 2020
Egypt-based Misr Insurance Co.'s premiums increased nearly 4% year-over-year to 9.3 billion Egyptian pounds ($593 million) in the financial year ended June 30.
Posted: Sep 17, 2020
Data from Brazil's National Institute for Space Research showed that the number of wildfires in Sao Paulo more than doubled year-over-year to 4,214 so far in 2020.
Posted: Sep 17, 2020
A study by PricewaterhouseCoopers LLP's strategy consulting subsidiary Strategy& found that the Aug. 4 blast at Beirut port caused around $20 billion worth of damage.
Posted: Sep 17, 2020
The Saudi Arabian Monetary Authority has approved several insurance policies that cover cancellation of live events, as part of its efforts to develop the local insurance market.
Posted: Sep 17, 2020
A federal appeals court on Wednesday will consider whether Harvard University discriminates against Asian-American applicants in a closely watched case that could impact whether U.S. colleges can use race as a factor in admissions.
Posted: Sep 16, 2020
The U.S. Justice Department said on Wednesday it has charged five Chinese residents and two Malaysian businessmen in a wide-ranging hacking effort that encompassed targets from videogames to pro-democracy activists.
Posted: Sep 16, 2020
California reforms over the past 20 years have had a significant impact on workers compensation in the state, leading to reductions in major surgery events, drug spend per claim and lien filing, according to a study released Tuesday by the California...
Posted: Sep 16, 2020
U.S. investors expect the securities regulator to drop a contentious provision in a new rule that would make it tougher for them to push companies on issues such as climate change and social justice, according to three people briefed on the matter.
Posted: Sep 16, 2020
OneBeacon Insurance Group LLC, the brand for Intact Financial Corp.’s U.S. insurance company subsidiaries, on Wednesday said it has acquired the renewal rights to Brit Global Specialty USA’s admitted first dollar package public entity portfolio.
Posted: Sep 16, 2020
Liberty Mutual Insurance Co. said Wednesday it has named Marc Orloff president, North American field operations, global risk solutions, replacing Shaun Kelly, who has decided to leave the company.
Posted: Sep 16, 2020
Lawmakers in New Jersey are considering a bill that would prohibit workers compensation insurers from filing subrogation claims against a third party for employee injuries arising from automobile accidents.
Posted: Sep 16, 2020
The back-up safety driver behind the wheel of a self-driving Uber Technologies Inc. test vehicle that struck and killed a woman in Tempe, Arizona, in 2018 was charged with negligent homicide, prosecutors said on Tuesday.
Posted: Sep 16, 2020
Washington state’s Department of Labor and Industries is proposing no increase in workers compensation premiums for employers in the state, the agency said Tuesday in a statement. If adopted, this will be the fourth year in a row that workers comp ra...
Posted: Sep 16, 2020
A railroad failed to reasonably accommodate a hearing-impaired conductor who was terminated, a federal appeals court said Monday, in overturning a lower court ruling and reinstating his disability discrimination claim.
Posted: Sep 16, 2020
Families of Boeing 737 MAX crash victims are urging U.S. lawmakers to ensure the aircraft manufacturer is held accountable for accidents that together killed 346 people by blocking a key legal defense, according to a letter sent on Tuesday and seen b...
Posted: Sep 16, 2020