Business Insurance
COVID-19 significantly impacted underwriting results for CNA Financial Corp., resulting in pretax net catastrophe losses of $301 million in the second quarter, the Chicago-based insurer reported Monday.
Posted: Aug 03, 2020
A California-based executive assistant has pleaded guilty to allegedly double-dipping on workers compensation claims.
Posted: Aug 03, 2020
Program administrator Axon Underwriting Services LLC said Monday it has acquired the renewal portfolio of Allianz Global Corporate & Specialty SE’s contaminated and consumer products recall insurance business written through Petaluma, California-base...
Posted: Aug 03, 2020
Mitchell/Genex, formerly known as Mitchell International Inc., announced Monday that it has completed its acquisition of Coventry Workers Comp Services from CVS Health.
Posted: Aug 03, 2020
Kathleen Reardon, CEO of Hamilton Re Ltd., the Bermuda-based reinsurance arm of Hamilton Insurance Group Ltd., and a founding member of the company, is leaving the firm.
Posted: Aug 03, 2020
Bausch Health Cos. Inc. has agreed to pay $45 million, and three former top executives also agreed to penalties, to settle charges of improper revenue recognition and misleading disclosures in U.S. regulatory filings, the U.S. Securities and Exchange...
Posted: Aug 03, 2020
Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co. Ltd., also known as Xiao-i, has filed a lawsuit against Apple Inc., alleging it has infringed on its patents.
Posted: Aug 03, 2020
Hefty payouts for sports events and holidays canceled due to the coronavirus crisis helped send insurer Hiscox Ltd. deep into the red on Monday and pummeled its shares to their lowest in more than two months.
Posted: Aug 03, 2020
Insurers that do not treat customers fairly when calculating payouts for business interruption due to the coronavirus crisis will face action by Britain's markets watchdog.
Posted: Aug 03, 2020
John Dacey, chief financial officer of Swiss Re Ltd., said that the reinsurer might have to increase the amount set aside to pay coronavirus pandemic-related business interruption claims if insurers lose test cases.
Posted: Aug 03, 2020
French carmaker Renault SA recorded a net loss of nearly €7.3 billion ($8.6 billion) in the first half of the year, due to the COVID-19 pandemic and troubles at its alliance partner Japan-based Nissan Motor Co. Ltd.
Posted: Aug 03, 2020
Irish insurer FBD Holdings PLC has set aside €30 million ($35 million) for losses related to a lawsuit over business interruption insurance.
Posted: Aug 03, 2020
Abdulla Sultan, chief executive of Bahrain Kuwait Insurance Co., said that international reinsurers are expected to increase their premiums by 10%-20% in some classes of insurance due to the COVID-19 pandemic.
Posted: Aug 03, 2020
A blast at a mine in Los Cedros, located in the Colombian municipality of El Zulia, on July 31 killed nine people.
Posted: Aug 03, 2020
Mental health care providers face various liability risks, in every type of care setting. Mitigating risk is critical to sustaining their mission to deliver care. Learn more in this Business Insurance Risk Perspective from Philadelphia Insurance Comp...
Posted: Aug 03, 2020
A federal appeals court has overturned a lower court and ruled an insurer must defend an apartment management firm in litigation over the return of security deposits but held off on deciding whether it must also indemnify the policyholder.
Posted: Jul 31, 2020
Two teenagers and a 22-year-old were charged with hacking the Twitter Inc. accounts of famous people including former President Barack Obama, billionaire Bill Gates and Tesla Chief Executive Elon Musk, the Department of Justice said Friday.
Posted: Jul 31, 2020
Hartford Financial Services Group Inc. reported $248 million in catastrophe losses in the second quarter, including $110 million from civil unrest and losses related to the COVID-19 pandemic, according to earnings statement released Thursday.
Posted: Jul 31, 2020
A federal appeals court has reinstated the sexual harassment lawsuit filed by actress Ashley Judd against movie producer Harvey Weinstein.
Posted: Jul 31, 2020
Chinese government-linked hackers targeted biotech company Moderna Inc., a U.S.-based coronavirus vaccine research developer, this year in a bid to steal data, according to a U.S. security official tracking Chinese hacking.
Posted: Jul 31, 2020
A bill introduced in the U.S. Senate Wednesday would help workers at federal radioactive sites obtain workers compensation for work-related cancers and other health issues.
Posted: Jul 31, 2020
A New Jersey bill would prohibit employers and insurers from filing a claim against a third-party to recover workers compensation benefits paid after a work-related automobile accident.
Posted: Jul 31, 2020
Arthur J. Gallagher & Co. on Thursday reported a 7.7% increase in second-quarter brokerage revenue to $1.2 billion.
Posted: Jul 31, 2020
Most employers are creating their own return-to-work strategies and few have returned their full workforce to the office, according to a survey released Thursday by Philadelphia-based law firm Blank Rome LLP.
Posted: Jul 31, 2020
New Jersey may become the next state to enact a law presuming that essential workers who acquire COVID-19 did so on the job.
Posted: Jul 31, 2020