Business Insurance
Allianz’s revamp of its commercial operations tops this week’s news. Also of note: An AIG unit must pay hefty defense costs to a pair of Illinois companies.
Posted: Jul 30, 2023
Hartford Financial Services Group Inc. on Thursday posted second-quarter net income of $542 million, up 23% from the year-earlier period, despite challenges with catastrophes.
Posted: Jul 30, 2023
Just how long it takes to peel away the plastic on a microwavable cup of Velveeta Shells and Cheese appeals to be at the heart of a lawsuit that was dismissed by a federal judge Thursday.
Posted: Jul 30, 2023
Marsh & McLennan Cos. Inc. said Friday it has agreed to acquire Asprose Corredora de Seguros S.A., a brokerage based in Costa Rica.
Posted: Jul 30, 2023
President Joe Biden on Thursday outlined steps his administration is taking to address the consequences of extreme heat, including targeted inspections of industries where workers are at increased risk of heat exposure and the adoption of federal hea...
Posted: Jul 30, 2023
A Georgia appellate court ruled the Atlanta Police Department wrongly suspended an injured officer’s workers compensation benefits on the basis that the officer received a return-to-work release from a provider who was not his treating comp physician...
Posted: Jul 30, 2023
Liberty Mutual Insurance Co. Friday named Allison Janisch as global product leader, casualty, for its global risk solutions business.
Posted: Jul 30, 2023
Nominations for the Business Insurance 2023 Women to Watch Awards close on Aug. 18.
Posted: Jul 30, 2023
Ryan Flanagan, senior vice president and real estate practice leader at Heffernan Insurance Brokers, says that in a tough market there are creative strategies insurance buyers can use to secure the coverage they need.
Posted: Jul 26, 2022
Teva Pharmaceutical Industries on Tuesday announced a proposed nationwide settlement that could resolve thousands of lawsuits over the drugmaker’s alleged role in the U.S. opioid epidemic.
Posted: Jul 26, 2022
Aspen Insurance Holdings Ltd. said in a U.S. Securities and Exchange Commission filing Monday that it has replaced its auditor after identifying material weaknesses in internal controls over financial reporting.
Posted: Jul 26, 2022
Global insured losses from natural catastrophe events were estimated at $39 billion for the first half of 2022, off 31.6% from first-half 2021’s $57 billion and 18% higher than the 21st-century average of $33 billion, according to a report Tuesday fr...
Posted: Jul 26, 2022
Improvements in risk modeling are necessary if future cyber insurance growth is to reflect increased market capacity that is driven by the industry’s appetite rather than by higher rates that stem from a supply-demand mismatch, says a rating agency r...
Posted: Jul 26, 2022
A U.S. judge said Uber Technologies Inc. did not violate a federal law protecting people with disabilities by not offering wheelchair-accessible vehicles in every market the ride-sharing company serves.
Posted: Jul 26, 2022
COVID-19 vaccine maker BioNTech said Tuesday that it and partner Pfizer filed a complaint in U.S. District Court in Massachusetts, seeking a judgment that they did not infringe U.S. patents held by rival CureVac.
Posted: Jul 26, 2022
The California Workers’ Compensation Institute reported that a rise in medical-only and indemnity claim volume in 2021 drove frequency for private self-insured employers to the highest level since 2007.
Posted: Jul 26, 2022
Brown & Brown Inc. reported second-quarter revenue of $839.7 million late Monday, up 15.5% from the same period last year, with organic revenue increasing 10.3%.
Posted: Jul 26, 2022
Annual workplace homicides have fallen more than 50% from a high of 1,080 in 1994, yet nonfatal incidents have seen an uptick, according to a report released Thursday by the U.S. Department of Justice that aimed to identify indicators of workplace vi...
Posted: Jul 26, 2022
The U.S. Securities and Exchange Commission is investigating whether Coinbase Global Inc. improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported Monday.
Posted: Jul 26, 2022
Aspen Insurance Holdings Ltd. has appointed Ernst & Young LLP as Aspen’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2022, with effect from July 6, 2022, following receipt of regulatory approval and completion of...
Posted: Jul 26, 2022
A federal appeals court on Monday reversed a lower court and held in a divided opinion that students at Loyola University in Chicago can pursue breach of contract litigation in connection with the COVID-19-related cancellation of their in-person clas...
Posted: Jul 26, 2022
A mountainside collapse severely damaged a coal mine owned by Chinese state-owned mining conglomerate Shanxi Coking Coal Group Co. Ltd. in the Gansu province on July 23, killing 10 people while injuring seven others.
Posted: Jul 26, 2022
A report by Allianz Global Corporate & Specialty SE said that fires or explosions generate the most expensive losses for businesses in South Africa, accounting for 65% of the value of all claims over the past five years.
Posted: Jul 26, 2022
U.K.-based insurance broker BMS Group Ltd.’s reinsurance arm BMS Re has acquired Mexico-based surety reinsurance broker Calomex Intermediario de Reaseguro, SA de CV for an undisclosed amount.
Posted: Jul 26, 2022
Akbar Al Baker, chief executive of Qatar Airways Co. QCSC, has warned that aviation industry disruptions, mostly stemming from the COVID-19 pandemic, will last for another couple of years.
Posted: Jul 26, 2022