Business Insurance
The merger of six Turkish insurers and pension fund managers has been completed to form the country's largest insurance and pensions company.
Posted: Sep 08, 2020
Seven stores of South African drug retailer Clicks Group Ltd. were damaged and others forced to shut during protests over a racist advertisement posted on the company's website.
Posted: Sep 08, 2020
Ratings agencies Moody's and S&P Global said on Tuesday they expected global reinsurance premium rates to rise at the key January renewal season as companies seek to recoup some of their COVID-19-related losses.
Posted: Sep 08, 2020
The prolonged downturn in air travel brought on by COVID-19 has left many aircraft idle in the United States, prompting concerns about aggregation risk especially in areas exposed to natural catastrophes.
Posted: Sep 08, 2020
German investment funds and insurers have called on the European Union to force credit rating agencies to provide more transparency on the fees they charge for data.
Posted: Sep 07, 2020
British theaters and live music venues say the show will only go on if the government provides a financial backstop, as the COVID-19 pandemic means they can no longer get commercial insurance.
Posted: Sep 07, 2020
Several companies including Toyota Motor Corp., Canon Inc., Daihatsu Motor Co. and Sony Corp. shuttered plants in southern Japan ahead of typhoon Haishen, which made landfall on Sep. 6.
Posted: Sep 07, 2020
Japan-based insurer Sompo Holdings Inc. plans to buy U.S.-based Diversified Crop Insurance Services for up to 50 billion Japanese yen ($470 million), as demand for insurance against losses from extreme weather events rises.
Posted: Sep 07, 2020
Lebanese insurer Chedid Capital Holding is in talks to acquire Monaco-based insurance broker Ascoma Assureurs Conseils.
Posted: Sep 07, 2020
A survey found that the majority of insurers in Europe expect demand for digital products and services to increase significantly in response to the COVID-19 pandemic.
Posted: Sep 07, 2020
Ariff Ali, governor of Fiji's central bank, said that the nation's insurance industry is expected to face challenges this year due to the COVID-19 pandemic.
Posted: Sep 07, 2020
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