Business Insurance
New Zealand's stock exchange resumed trading on Friday, after facing disruptions for four consecutive days in the wake of cyberattacks this week, while the government said national security systems had been activated to support the bourse.
Posted: Aug 28, 2020
Shares in German drugs company Bayer AG fell 3% on Friday after it said there were “bumps” in sealing its $11 billion settlement of U.S. lawsuits over its Roundup weedkiller after a U.S. judge cast doubt on the progress of the agreement.
Posted: Aug 28, 2020
Posted: Aug 28, 2020
Fortnite videogame fans who use Apple products to kill the latest zombies and save the world were hit with the reality that they could not download Thursday’s long-awaited update. Cue crickets.
Posted: Aug 28, 2020
Wholesale broker London Underwriters LLC on Friday launched an insurtech program Bunch offering commercial property, wind and terrorism coverage of up to $2 million in limits in Texas.
Posted: Aug 28, 2020
Elon Musk said on Thursday that Tesla Inc's factory in Nevada was a target of a “serious” cybersecurity attack, confirming a media report that claimed an employee of the company helped the FBI thwart the attack.
Posted: Aug 28, 2020
Insured wind and storm surge losses for residential and commercial properties in Louisiana and Texas due to Hurricane Laura are estimated to be between $8 billion and $12 billion, data and analytics firm CoreLogic said Friday.
Posted: Aug 28, 2020
The impact of a broker’s guilty plea in connection with the Varsity Blues scandal tops this week's news. Meanwhile, Aon PLC and Willis Towers Watson PLC figure prominently in two stories each among the Top 10.
Posted: Aug 28, 2020
Ping An Insurance (Group) Company of China Ltd.'s net profit fell nearly 30% year-over-year to around 69 billion Chinese yuan ($10 billion) in the first six months due to the COVID-19 pandemic.
Posted: Aug 28, 2020
U.K.-based Rolls-Royce Motor Cars Ltd. reported a record loss of £5.4 billion ($7.1 billion) in the first half of the year due to the COVID-19 pandemic.
Posted: Aug 28, 2020
Australian insurance broker Aviso Group plans to merge two of its largest brokers, Insurance Aid General Brokers and Eagle Insurance Brokers.
Posted: Aug 28, 2020
South Africa-based Lombard Insurance Co. Ltd. suffered a cyber attack recently, with hackers targeting its data.
Posted: Aug 28, 2020
A storm lashed the Australian state of Victoria on Aug. 27, causing widespread damage and knocking out power to 95,000 homes.
Posted: Aug 28, 2020
The All India Online Vendors Association has sued U.S.-based Amazon.com Inc. for alleged preferential treatment of some sellers and predatory pricing.
Posted: Aug 28, 2020
China's National Meteorological Center has renewed a red alert for typhoon Bavi, which is expected to make landfall in the coastal areas near Donggang city of Liaoning province on Aug. 28.
Posted: Aug 28, 2020
StarStone U.S. said Thursday it has named Alison Oliphant president of its newly formed excess & surplus property division.
Posted: Aug 27, 2020
Payments for outpatient facility services in workers compensation drove up the cost of medical payments per claim by 6.6% from 2014 through 2018, according to a report issued Thursday by the National Council for Compensation Insurance.
Posted: Aug 27, 2020
A federal appeals court Wednesday affirmed a lower court ruling in favor of a Nationwide Mutual Insurance Co. unit in a litigation dispute with another insurer, in a case involving a worker who fell through an unguarded opening in a building’s second...
Posted: Aug 27, 2020
A federal appeals court overturned a lower court ruling Wednesday and reinstated a racial discrimination case filed by a Black employee of Facebook Inc. who was denied a promotion based on allegedly racist comments made by a supervisor.
Posted: Aug 27, 2020
The New York State Insurance Fund has created a program to allow its workers compensation policyholders to earn a 5% credit on their annual premium for the purchase of COVID-19 personal protective equipment, the insurer announced in a statement Tuesd...
Posted: Aug 27, 2020
Washington state Insurance Commissioner Mike Kreidler on Wednesday sent an initial survey to about 5,000 businesses in the state asking if they use a captive insurance company.
Posted: Aug 27, 2020
New Zealand’s stock exchange will not reopen on Thursday for trading following offshore cyberattacks over the last two days, bourse operator NZX Ltd said.
Posted: Aug 27, 2020
Business Insurance will announce the winners of the 2020 U.S. Insurance Awards during a virtual event on Sept. 10.
Posted: Aug 27, 2020
More than 430 domestic flights in and out of Jeju and Busan were canceled as typhoon Bavi made landfall in South Korea on Aug. 26, and caused widespread damage.
Posted: Aug 27, 2020
Hong Kong-based China Taiping Insurance Holdings Co. Ltd.'s net profit plunged more than 57% year-on-year to nearly $3 billion Hong Kong ($387 million) in the first six months.
Posted: Aug 27, 2020