Business Insurance
The World Travel & Tourism Council expects that the United Kingdom will lose around £22 billion ($29 billion) this year due to the coronavirus pandemic-induced decline in global travel.
Posted: Aug 31, 2020
The Saudi financial regulator has moved to allow insurers to cover licensed drones.
Posted: Aug 31, 2020
A freight train derailed and spilled up to 750 tons of diesel into the Loughor Estuary in the U.K.'s Carmarthenshire county on Aug. 26.
Posted: Aug 31, 2020
A middle-aged couple severely injured when they went to check on a neighbor at the request of a law enforcement officer should not be awarded damages other than workers compensation benefits, even though they were not employed by the local authority,...
Posted: Aug 28, 2020
Herbalife Nutrition Ltd. will pay $123.1 million to settle criminal and civil charges it bribed Chinese officials in government agencies and media outlets to boost its business in China, the U.S. Department of Justice said on Friday.
Posted: Aug 28, 2020
Insurers are obligated to defend a bar in a situation where a woman was first given suspicious drinks, then assaulted, despite an assault exclusion in its coverage, said a federal appeals court Thursday, in affirming a lower court ruling.
Posted: Aug 28, 2020
Ohio employers have a right to observe their employees provide a urine sample for drug testing, the Ohio Supreme Court held Wednesday in a 4-3 decision.
Posted: Aug 28, 2020
Longtime risk manager Audrey Rampinelli has joined Mastercard Inc. as senior vice president risk management and insurance services.
Posted: Aug 28, 2020
New Jersey lawmakers on Thursday passed legislation to increase burial expense allowances for workers compensation claimants and clarify benefits payments.
Posted: Aug 28, 2020
An Allianz unit that waited 18 months after a complaint was filed to reserve its right to disclaim coverage for punitive damages is obligated to pay a $1.95 million punitive damages award, in a case involving a young woman who was injured by a malfun...
Posted: Aug 28, 2020
The widow of an airline pilot who was killed crossing a road to his hotel while away for work travel can collect full survivor benefits, an appeals court in Colorado ruled Thursday, denying the employer’s arguments that the pilot was intoxicated at t...
Posted: Aug 28, 2020
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