Business Insurance
An appellate court dismissed an energy company’s argument that the circumstances surrounding the death of a subcontractor were not “tragic” enough to support a $2 million award to his widow.
Posted: Aug 04, 2020
Wholesale broker Worldwide Facilities LLC said Tuesday it has acquired Clearwater, Florida-based Clearwater Underwriters Inc., a surplus lines managing general agent.
Posted: Aug 04, 2020
One80 Intermediaries, a national wholesale broker, program manager and insurance aggregator, said Tuesday it has acquired Helotes, Texas-based National Underwriting Services Inc., a full-service managing general underwriter of medical stop loss insur...
Posted: Aug 04, 2020
Guy Carpenter & Co. LLC’s global head of operations John Ehinger has left the firm and his responsibilities have been taken on by Neil Mayer, Carpenter’s newly appointed chief operating officer.
Posted: Aug 04, 2020
A group of about 50 New York restaurants, ranging from high-end dining establishments to an iconic bagel shop, are suing their insurers for hundreds of millions of dollars in damages in a suit alleging their coronavirus-related business interruption...
Posted: Aug 04, 2020
Kuwaiti aircraft leasing company Alafco has halved its order for 40 Boeing 737 jets after reaching an agreement to end its legal claim over a canceled order for the planes, it said on Tuesday.
Posted: Aug 04, 2020
American International Group Inc.’s adjusted net income more than halved in the second quarter, reflecting a significant increase in coronavirus-related losses, but the insurer’s top executive said commercial insurance rates were increasing at the fa...
Posted: Aug 04, 2020
NFP Corp. acquired brokerage Rose & Kiernan Inc. in a deal that expands its middle-market expertise and footprint in the Northeast, NFP said in a statement Monday.
Posted: Aug 04, 2020
The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday.
Posted: Aug 04, 2020
France-based insurer Covea Groupe SAS plans to invest €1.5 billion ($1.8 billion) in entities managed by Bermuda-based reinsurer PartnerRe Ltd.
Posted: Aug 04, 2020
Insurer Hiscox Ltd. said that the eventual findings of the U.K. Financial Conduct Authority's business interruption test case could drive additional COVID-19 pandemic-related losses to its reinsurance book
Posted: Aug 04, 2020
Japanese insurers plan to introduce policies for corporate customers that base premiums on flood risk.
Posted: Aug 04, 2020
Reuters — Manhattan's district attorney on Monday suggested a grand jury subpoena for President Donald Trump's tax returns was part of an investigation of "possibly extensive and protracted criminal conduct at the Trump Organization," including alle...
Posted: Aug 04, 2020
U.K.-based insurer and reinsurer Brit Ltd. received COVID-19 pandemic-related claims of nearly $128 million in the first half of the year.
Posted: Aug 04, 2020
Australia's Victoria state will shut down large parts of its retail and manufacturing sectors for six weeks across the city of Melbourne after a lockdown failed to contain a spike in coronavirus cases.
Posted: Aug 04, 2020
U.S.-based S&P Global Ratings Inc. said that New Zealand insurers' risks have remained stable through the year and the sector has mostly been unscathed by the COVID-19 pandemic.
Posted: Aug 04, 2020
The Insurance Regulatory and Development Authority of India could allow domestic and foreign insurance intermediaries to conduct operations in all the Special Economic Zones in the country.
Posted: Aug 04, 2020
China Railway Shanghai Group temporarily suspended trains on certain routes in the Yangtze River Delta region due to typhoon Hagupit.
Posted: Aug 04, 2020
At least seven tons of oil spilled in Russia's Komi Republic on Aug. 1 due to damage to pipeline.
Posted: Aug 04, 2020
A National Labor Relations Board ruling that abusive or inappropriate workplace speech by employees engaged in “protected concerted” or union activity is not protected under the National Labor Relations Act eliminates confusion and harmonizes federal...
Posted: Aug 04, 2020
American International Group Inc. on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns.
Posted: Aug 03, 2020
A superior court must look deeper at the relationships among several Alaskan companies to determine whether any are entitled to the exclusive remedy provisions on a worker’s personal injury claims.
Posted: Aug 03, 2020
A Travelers Cos. Inc. unit is not obligated to defend a trucking company for the damage caused by a hydrochloric acid cloud because of a pollution exclusion in its coverage, a federal appeals court said Friday, in affirming a lower court ruling.
Posted: Aug 03, 2020
USI Insurance Services LLC has acquired Troy, Michigan-based agency Colburn Group Insurance, the brokerage announced Monday.
Posted: Aug 03, 2020
A federal appeals court has reinstated litigation filed by a physician against a travel organization, holding the organization’s “anonymous” accounting in a magazine of the Mexico ziplining accident that resulted in his leg’s amputation defamed him w...
Posted: Aug 03, 2020