Business Insurance
Studies showed that the COVID-19 pandemic could cost Italy's tourism sector €100 billion ($118 billion).
Posted: Sep 10, 2020
Lloyd’s of London recorded a pretax loss of £400 million ($520.08 million) in the first half, battered by the coronavirus pandemic, the commercial insurance market said on Thursday.
Posted: Sep 10, 2020
An index-based policy is triggered and paid when predefined and measurable event parameters – such as earthquake intensity – are met or exceeded. Does this concept actually work? Let one of our customers tell you. #Innovativerisk
Posted: Sep 10, 2020
Hartford Financial Services Group Inc. unit has a duty to defend a biopharmaceutical company in arbitration proceedings under its professional services liability coverage, a federal appeals court ruled Tuesday.
Posted: Sep 09, 2020
An expert was not needed in a negligence case filed against Costco Wholesale Corp., in a case where a customer claimed he was injured when a wine bottle fell off a conveyor belt, says a federal appeals court, in a divided opinion that overturns a low...
Posted: Sep 09, 2020
The family of a man who died two days after a trench collapsed on him can’t sue his employer, an appeals court in Ohio ruled Tuesday, affirming a trial court decision that found the employer was not negligent despite multiple U.S. Occupational Safety...
Posted: Sep 09, 2020
The City and County of Denver’s Department of Finance failed to implement multiple recommendations regarding its workers compensation program made by an audit team in 2018, according to an audit released Thursday.
Posted: Sep 09, 2020
The Pennsylvania Supreme Court has agreed to hear a case challenging a court decision holding that pharmacists had the right to intervene in the workers compensation utilization review process.
Posted: Sep 09, 2020
Bermuda-based runoff management specialist Randall & Quilter Holdings Ltd. on Wednesday named former Aon executive Patrick J. Rastiello as CEO of its newly established U.S. excess and surplus program management business, Accredited Specialty Insuranc...
Posted: Sep 09, 2020
Insurers expect reinsurance rates to increase at least 5% at year-end renewals, according to a report issued by Moody’s Investors Services Inc. on Wednesday.
Posted: Sep 09, 2020
Zurich Insurance Group on Wednesday named Sierra Signorelli as group chief underwriting officer and said that the group’s claims function will move to its commercial insurance unit.
Posted: Sep 09, 2020
Former Volkswagen CEO Martin Winterkorn will face charges of conspiracy to commit organized commercial fraud with a high likelihood of conviction, a court probing the carmaker's diesel emissions scandal said on Wednesday.
Posted: Sep 09, 2020
It is said that one man’s trash is another man’s treasure. But what about old toilets?
Posted: Sep 09, 2020
Hub International Ltd. said Tuesday it has acquired the assets of Lake Charles, Louisiana-based medical professional liability broker Todd & Associates LLC.
Posted: Sep 09, 2020
Workplace safety violations are the second-costliest offense committed by companies that received aid from the Coronavirus Aid, Relief, and Economic Security Act, to the tune of $274.3 million in penalties, according to a report released Tuesday by G...
Posted: Sep 09, 2020
Hamilton Insurance Group Ltd. has named Megan Thomas as CEO of Hamilton Re Ltd., the company’s reinsurance and insurance unit in Bermuda.
Posted: Sep 09, 2020
Munich Reinsurance Co. expects Beirut blast-related claims of at least €100 million ($118 million).
Posted: Sep 09, 2020
Public bank Banco del Estado de Chile closed all its branches across the nation on Sep. 7 following a cyber attack.
Posted: Sep 09, 2020
Reinsurer General Insurance Corporation of India's gross written premiums declined more than 24% year-over-year to nearly 160 billion Indian rupees ($2.2 billion) in the fiscal first quarter ended June 30.
Posted: Sep 09, 2020
A typhoon triggered heavy rains in northeast China, and caused floods as 23 rivers reached the warning level.
Posted: Sep 09, 2020
Insurance claims related to explosions and fires at industrial properties in Turkey total around 500 million Turkish lira ($67 million) per year.
Posted: Sep 09, 2020
A consortium led by insurer Arch Capital Group Ltd. has made an approximately $500 million offer to acquire reinsurance firm Watford Holdings Ltd., people familiar with the matter said on Tuesday.
Posted: Sep 09, 2020
Self-insured employers facing the threat of COVID-19 workplace safety litigation could opt to accept infection workers compensation claims, as exclusive remedy clauses could provide better protection from expensive lawsuits later on, according to leg...
Posted: Sep 09, 2020
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