Business Insurance
U.S.-based A.M. Best Co. Inc. said that Vietnam-based PVI Reinsurance Joint-stock Corp. reported stable underwriting performance in the first half of the year, compared with the year-ago period.
Posted: Aug 26, 2020
Georgian insurers' net profit increased 49% year-over-year to more than 29 million Georgian lari ($9 million) in the first six months.
Posted: Aug 26, 2020
Musculoskeletal disorders can be treated more effectively by medications and therapies other than opioids, according to new research that shows injuries that make up the lion’s share of workers compensation claims can avoid dangerous drug remedies.
Posted: Aug 26, 2020
U.S. prosecutors brought insider trading charges against the founder and former chief executive of Auspex Pharmaceuticals Inc., accusing him of providing illegal tips to friends and family as Teva Pharmaceutical Industries Ltd. prepared to buy his co...
Posted: Aug 25, 2020
Brown & Brown Inc. said Tuesday it has terminated its deal to acquire the family-owned Hauser Group, following news that Mark Hauser was pleading guilty in connection with the Varsity Blues scandal.
Posted: Aug 25, 2020
A group of Philadelphia restaurants and bars filed a suit seeking class action status against Allianz SE units Tuesday for business interruption coverage in connection with the COVID-19 pandemic.
Posted: Aug 25, 2020
U.S. property/casualty insurers reported a 21.6% decline in net income to $25.0 billion in the first half of this year, as realized capital gains fell $5.5 billion amid the COVID-19 pandemic, A.M. Best Inc. said in a report Tuesday.
Posted: Aug 25, 2020
A group of 17 U. S. property/casualty reinsurers tracked by the Reinsurance Association of America wrote $32.1 billion of net premiums during the first half of this year, up 14.6% from $28.0 billion for the same period in 2019, the RAA said in a sta...
Posted: Aug 25, 2020
A federal appeals court has overturned a ruling in favor of Chubb Ltd. in a litigation dispute with a mortgage company over an abandoned laundromat, holding more information is needed to determine who controlled the property.
Posted: Aug 25, 2020
“Mega” workers compensation claims from the construction sector comprised approximately 40% of large claims from 2001 to 2017, yet made up 20% of indemnity claims, according to research released Tuesday by the Workers’ Compensation Insurance Rating B...
Posted: Aug 25, 2020
Alphabet Inc.'s life sciences division Verily is partnering with reinsurer Swiss Re to launch a unit to provide stop-loss insurance, a financial product purchased by employers to cover unexpected and large employee health care costs.
Posted: Aug 25, 2020
Honda Motor Co. has agreed to pay $84.2 million to settle a probe by most U.S. states into its use of defective Takata airbag inflators in its vehicles, according to a consent order made public on Tuesday.
Posted: Aug 25, 2020
A federal judge on Monday blocked Apple Inc. from shutting down an Epic Games tool that is relied upon by hundreds of other app makers but had become the subject of an antitrust battle between the companies.
Posted: Aug 25, 2020
The percentage of positive marijuana drug tests among workers rose by 11% across nearly all employee testing categories in 2019, according to an analysis released Tuesday by Quest Diagnostics Inc.
Posted: Aug 25, 2020
A U.S. judge on Monday dismissed a lawsuit accusing Denmark's Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch.
Posted: Aug 25, 2020
Lloyd’s of London named Carey Bond to the newly created role of U.S. head of claims, Lloyd’s said in a statement Tuesday.
Posted: Aug 25, 2020
John Loftus has joined Alliant Insurance Services Inc. as co-cyber product leader from rival brokerage Willis Towers Watson PLC.
Posted: Aug 25, 2020
Several companies in China have ceased operations as their plants were submerged following weeks of heavy rains and floods along the Yangtze River.
Posted: Aug 25, 2020
A report by U.A.E.-based actuarial consultancy Badri Management Consultancy said that local insurers' net profits fell 4% year-over-year to 945 million United Arab Emirates dirham ($257 million) in the first six months.
Posted: Aug 25, 2020
Vietnamese technology firm VNG Corp. has sued video-sharing service TikTok for alleged copyright infringement, and is seeking more than 221 billion Vietnamese dong ($9.5 million) as compensation.
Posted: Aug 25, 2020
Wildfires in Argentina's Cordoba province have so far burnt at least 35,388 acres of grasslands and mountainous territory in Punilla and Ischilin regions and destroyed power lines.
Posted: Aug 25, 2020
The European Mediterranean Seismological Centre said that an earthquake of magnitude 5.5 shook Costa Rica on Aug. 24.
Posted: Aug 25, 2020
China Pacific Insurance Co. Ltd.'s gross written premiums fell nearly 25% to 11.23 billion Chinese yuan ($1.6 billion) in the first half of the year.
Posted: Aug 25, 2020
Losses related to the COVID-19 pandemic began to hit insurers’ books in the second quarter but will remain “manageable” for the industry, according to analysts.
Posted: Aug 25, 2020
A company co-owned by Pro Football Hall of Fame running back Jerome Bettis has filed suit against an energy company for alleged racial discrimination, charging it reneged on promises made in connection with its minority-owned business, and seeking at...
Posted: Aug 24, 2020