Business Insurance
A survey in New Zealand found that the events industry sector lost more than $570 million New Zealand ($415 million) between March and August due to the COVID-19 pandemic.
Posted: Sep 07, 2020
A former attorney for American International Group Inc. has filed a whistleblower suit against the insurer alleging he was terminated for reporting fraudulent conduct and inadequate controls.
Posted: Sep 04, 2020
Cyber insurance premiums, which now total about $5 billion annually, will increase 20% to 30% per year on average in the near future, Standard & Poor’s Corp. says in a report.
Posted: Sep 04, 2020
A shareholder derivative lawsuit has been filed against an industrial and medical conglomerate on the basis it does not have any Black board members.
Posted: Sep 04, 2020
As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break.
Posted: Sep 04, 2020
The California Department of Industrial Relations announced Friday that it has cited 11 employers for not protecting employees from COVID-19 exposure during inspections of industries where it says workers have an elevated risk of exposure.
Posted: Sep 04, 2020
The Federal Trade Commission said Friday that a group of auto dealerships in Arizona and New Mexico must stop business operations as part of a court-approved settlement resolving agency charges that the dealerships deceived consumers and falsified in...
Posted: Sep 04, 2020
An employer that did not timely file paperwork against a program analyst’s workers compensation claim that she fell and hurt herself at work did not automatically mean the injury was compensable, an appeals court in New York ruled Thursday.
Posted: Sep 04, 2020
A Michigan chiropractic practice is not covered for COVID-19 losses under the firm’s policy with State Farm, a federal judge ruled Thursday in a decision that centered on the words “to,” “of” and “or” in commercial insurance policies.
Posted: Sep 04, 2020
In a victory for policyholders, a California state court has dismissed initial public offering litigation against a medical device company, stating it has no jurisdiction to consider the case because of a provision in its certificate of incorporation...
Posted: Sep 04, 2020
Executive moves by Lockton Cos. and Zurich Insurance Group have drawn plenty of reader interest this week. Also figuring prominently in the Top 10 are more legal victories for insurers in COVID-19 litigation.
Posted: Sep 04, 2020
A report by U.S.-based A.M. Best Co. Inc. said that the COVID-19 pandemic did not have a significant impact on the Taiwanese nonlife insurance segment.
Posted: Sep 04, 2020
Typhoon Haishen could cause significant damage in Japan and South Korea, regardless of whether it makes landfall.
Posted: Sep 04, 2020
U.K.-based parametric disaster risk transfer company Global Parametrics has partnered with German reinsurer Hannover Re SE to renew the parametric insurance cover for Yucatan coral reef in Mexico.
Posted: Sep 04, 2020
A report by U.S.-based Fitch Ratings Inc. said that insurance regulators of Sri Lanka and India have asked local insurers to temporarily suspend dividend payments in order to conserve capital.
Posted: Sep 04, 2020
Maritime experts have said that a rusting oil tanker off the coast of Venezuela could sink and cause an environmental disaster if not repaired soon.
Posted: Sep 04, 2020
The founder of a New York hedge fund was criminally charged on Thursday with pressuring a rival not to bid for assets related to Neiman Marcus’ bankruptcy so he could buy them at a lower price, the U.S. Department of Justice said on Thursday.
Posted: Sep 03, 2020
A derivative shareholder lawsuit has been filed against The Gap charging the retailer with breach of fiduciary duty, among other charges, because of its all-white board of directors and executive committee and calling for replacing at least two of it...
Posted: Sep 03, 2020
A children’s online learning program has agreed to pay $10 million to settle Federal Trade Commission charges of illegal marketing and billing practices.
Posted: Sep 03, 2020
Dovetail Insurance Inc. has launched Dovetail for Agents, an online quote, bind and issue platform for independent agents in the U.S.
Posted: Sep 03, 2020
Ascot Group Ltd. has named former American International Group Inc. executive Anthony Lyons as executive vice president and leader of a new portfolio underwriting division within its U.S. operations.
Posted: Sep 03, 2020
Apple Inc. must compensate its California retail store employees for time spent undergoing exit searches of their packages, bags and technology devices, said a federal appeals court Wednesday, in overturning a lower court decision and ruling in the p...
Posted: Sep 03, 2020
A nurse who sustained a musculoskeletal injury while trying to hold down a combative patient failed to show that she was terminated for filing a workers compensation claim, a district court held Monday.
Posted: Sep 03, 2020
The Philippine central bank said on Thursday that no account holder funds had been lost at the United Coconut Planters Bank after the state-lender reported it had suffered a “cyber incident” earlier this year.
Posted: Sep 03, 2020
A man who was injured on the job and later found to be able to perform part-time sedentary work, yet did not pursue such work, is not eligible for permanent total disability, the Ohio Supreme Court ruled Wednesday.
Posted: Sep 03, 2020