Business Insurance
The U.S. Securities and Exchange Commission said Friday it has awarded more than $6 million to two whistleblowers who provided critical information and assistance in two separate actions.
Posted: Jul 18, 2022
Germany-based technology-driven property and casualty insurer Element Insurance AG has appointed Astrid Stange as co-chief executive.
Posted: Jul 18, 2022
Delayed crude oil deliveries has forced South Africa’s largest fuel producer Sasol Ltd. to temporarily shut down its Natref refinery and declare a force majeure on the supply of petroleum products.
Posted: Jul 18, 2022
Torrential rains since July 15 caused heavy floods and mudslides in China’s Sichuan and Gansu provinces, damaging infrastructure, houses and crops, and causing widespread power and communication disruptions.
Posted: Jul 18, 2022
Investment banking firm Jefferies International Ltd. said that German reinsurer Munich Reinsurance Co. could have a significant exposure to aviation losses resulting from Russia’s seizure of jets after its invasion of Ukraine.
Posted: Jul 18, 2022
Bank of America has set aside around $200 million for a regulatory matter connected to the unauthorized use of personal phones, its chief financial officer, Alastair Borthwick, said Monday, adding that he expects the matter to be settled soon.
Posted: Jul 18, 2022
Alera Group Inc. said Monday it has acquired Noyle Johnson Group, a Montpelier, Vermont-based agency.
Posted: Jul 18, 2022
Mergers and acquisitions involving insurance agents and brokers rose to 427 in the first half of 2022, a 16% increase over the same period last year and 13% above the first-half five-year average, as brokers looked beyond traditional M&A targets, acc...
Posted: Jul 18, 2022
Falcon Risk Holdings LLC, a U.S. financial, professional and cyber lines managing general agent, said Monday it would write excess management liability coverage on an admitted form.
Posted: Jul 18, 2022
The Florida Division of Workers’ Compensation this month published a notice in the Florida Administrative Register announcing plans to review physician dispensing rules.
Posted: Jul 18, 2022
A federal appeals court on Thursday affirmed a lower court ruling and held that an Everest Re Group Ltd. unit does not have to defend or indemnify a financial adviser who sold a financial instrument issued by a company later sued by the U.S. Securiti...
Posted: Jul 15, 2022
A Colorado state court on Wednesday refused to dismiss COVID-19 business interruption-related litigation filed by a senior living retirement operator against a CNA Financial Corp. unit.
Posted: Jul 15, 2022
Hylant Group Inc. said Friday it has hired former captive insurance regulator Leane Rafalko as a senior captive consultant based in Raleigh, North Carolina.
Posted: Jul 15, 2022
Mars Inc. has been sued by a consumer who claims that Skittles candies are unfit to eat because they contain a known toxin that the company had pledged six years ago to phase out.
Posted: Jul 15, 2022
A contestant on the second season of Netflix’s “Love Is Blind” reality series is accusing the show’s producers of being blind to labor laws and worker safety.
Posted: Jul 15, 2022
Twenty-two workers died in trenching accidents in the first half of this year, a 68% increase over all of 2021 that has prompted the Occupational Safety and Health Administration to launch an enhanced enforcement initiative to better protect workers...
Posted: Jul 15, 2022
The ongoing pilots’ strike at Sweden-based Scandinavian Airlines Systems AB has cost the airline operator around 1.3 billion Swedish kronor ($122.5 million) so far.
Posted: Jul 15, 2022
Legal disputes between brokers over poaching lead this week’s Top 10. Also of note: Applied Underwriters raised staff salaries by 10% across the board to keep up with inflation.
Posted: Jul 15, 2022
The Court of Justice of the European Union recently ruled that German automaker Volkswagen AG used an illegal defeat device and software to alter its cars’ nitrogen oxide emissions.
Posted: Jul 15, 2022
State-controlled insurer South African Special Risk Insurance Association SOC Ltd. has settled 80% of insurance claims worth 24 billion South African rand ($1.4 billion) related to the 2021 civil riots.
Posted: Jul 15, 2022
Poppy Foxton, head of corporate insurance and risk solutions at Australia-based Honan Insurance Group Pty Ltd., said that corporate travel insurance premiums have jumped by up to 300%, as international travel resumes.
Posted: Jul 15, 2022
Ireland-based aircraft lessor AerCap Holdings NV has sued its insurers, including American International Group Inc., in the U.K. High Court after they denied its $3.5 billion claims related to jets seized by Russia after its invasion of Ukraine.
Posted: Jul 15, 2022
Citigroup, Goldman Sachs and Bank of America are in discussions with regulators to pay around $200 million each in fines over failing to monitor employees’ use of unauthorized messaging apps, Bloomberg News reported Friday.
Posted: Jul 15, 2022
The U.S. Securities and Exchange Commission is examining whether mortgage lender Better.com and the special purpose acquisition company it has agreed to merge with, Aurora Acquisition Corp., violated federal securities laws.
Posted: Jul 15, 2022
U.S. inland marine line premiums increased 15% in 2021 after falling 2% in 2020, according to a report Thursday from A.M. Best & Co.
Posted: Jul 14, 2022