Business Insurance
U.S.-based A.M. Best Co. Inc. said that Japan-based The Toa Reinsurance Co. Ltd.'s premiums increased 9% to 270 billion Japanese yen ($2.6 billion) in the year ended March 31.
Posted: Sep 01, 2020
A report by the World Bank Group said that the blast in Beirut on Aug. 4 caused up to $4.6 billion worth of damage.
Posted: Sep 01, 2020
Belgian insurer Ageas SA/NV's chief executive Bart De Smet will step down at the end of October, and will continue as chairman.
Posted: Sep 01, 2020
Data from Swiss catastrophe loss data provider Perils AG showed that insurance and reinsurance claims related to floods that hit the United Kingdom in February totaled £375 million ($500 million).
Posted: Sep 01, 2020
Saudi insurers' gross written premiums increased 5.3% year-over-year to nearly 21 billion Saudi riyal ($5.6 billion) in the first six months of 2020.
Posted: Sep 01, 2020
The China Banking and Insurance Regulatory Commission has approved the establishment of a new agricultural reinsurer to boost insurance coverage in the country.
Posted: Sep 01, 2020
U.S.-based insurtech firm Xceedance said that fall in premium writings is one of the major risks facing Australian insurers in the new business environment after the COVID-19 pandemic.
Posted: Sep 01, 2020
A lawyer who represented a whistleblower whose complaint led to President Trump’s impeachment said he’s been contacted by brokers to help him secure professional liability coverage since his current insurer, The Hanover Insurance Group, refused to re...
Posted: Sep 01, 2020
From rising WC rates to growth in special coverages, COVID-19 is impacting business and insurance in many ways. David Perez, chief underwriting officer of Liberty Mutual’s Global Risk Solutions, shares his predictions.
Posted: Sep 01, 2020
Social inflation is driving up frequency and severity in casualty claims. One of the keys to reducing the impact of litigation trends is loss control to prevent claims, writes QBE North America in a Business Insurance Risk Perspective.
Posted: Sep 01, 2020
Robinhood Markets Inc., the fintech startup credited with helping popularize trading among millennials, is being investigated by the U.S. Securities and Exchange Commission and the Financial Regulatory Authority over its handling of a system outage i...
Posted: Aug 31, 2020
A longshoreman will have another chance to prove he was unable to work after surveillance video led an administrative law judge to question his credibility, an appellate court ruled Friday.
Posted: Aug 31, 2020
The U.S. Occupational Safety and Health Administration published a final rule Friday revising the beryllium standards for construction and shipyards. The final rule clarifies the standards to improve compliance, the agency said in a statement.
Posted: Aug 31, 2020
California’s State Compensation Insurance Fund will distribute a $75 million midyear dividend to policyholders, which represents about 10% of the fund’s estimated annual reported premium between Jan. 1, 2020, and Aug. 26, 2020, the insurer announced...
Posted: Aug 31, 2020
A unit of Travelers Cos. Inc. won the dismissal of a coronavirus-related business interruption suit on Friday, adding to the growing list of court decisions finding business disruptions stemming from the pandemic don’t constitute property loss or dam...
Posted: Aug 31, 2020
The widow of a worker with a staffing agency who fell to his death and was later found to have marijuana in his system can still collect workers compensation survivor benefits because testimony indicated there were no signs that the worker was impair...
Posted: Aug 31, 2020
A federal judge on Friday rejected the New York Times’ bid to dismiss Sarah Palin's defamation lawsuit over a 2017 editorial she said falsely linked her to a mass shooting.
Posted: Aug 31, 2020
Insured losses from Hurricane Laura will be close to $9 billion, according to Boston-based catastrophe modeler Karen Clark & Co.
Posted: Aug 31, 2020
The New Zealand stock market was hit by a fifth day of cyberattacks on Monday, crashing its website, but maintained trading after switching to a contingency plan for the release of market announcements.
Posted: Aug 31, 2020
The pandemic has been driving down the costs of car insurance as many insurers have been offering premium refunds since March. Yet one insurance company is going the extra mile by offering a future discount to customers who can check the box: telecom...
Posted: Aug 31, 2020
U.S.-based S&P Global Inc. said that Europe's four biggest reinsurers racked up nearly €3.5 billion ($4.1 billion) of coronavirus claims and reserves in the second quarter of the year.
Posted: Aug 31, 2020
Belgian insurer Ageas SA/NV has agreed to buy a 25% stake in Taiping Reinsurance Co. Ltd., a subsidiary of Hong Kong-based China Taiping Insurance Holdings Co. Ltd., for $3.1 billion Hong Kong ($400 million).
Posted: Aug 31, 2020
A report by U.S.-based Fitch Ratings Inc. said Asian reinsurers are focusing on building their capital to buffer against a potential increase in claims and investment losses following significant catastrophe losses.
Posted: Aug 31, 2020
Typhoon Maysak is expected to hit South Korea on Sep. 2 and cause widespread disruption.
Posted: Aug 31, 2020
A report by Egypt's Financial Regulatory Authority said that local insurers' premiums increased 9.6% year-on-year to 15.2 billion Egyptian pounds ($958 million) in the first five months of the year.
Posted: Aug 31, 2020