Business Insurance
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
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