Business Insurance
Sedgwick Claims Management Services Inc. named Mike Arbour CEO and announced that its former long-time chief Dave North will be executive chairman of the third-party administrator.
Posted: Aug 12, 2020
Swiss catastrophe loss data provider Perils AG expects insurance claims related to storm Sabine, which hit Europe in February, to surpass €1.6 billion ($1.9 billion).
Posted: Aug 12, 2020
Russian mining conglomerate MMC Norilsk Nickel PJSC's net profit plunged in the first six months of the year after setting aside $2.1 billion in reserves for an environmental damage claim related to a major fuel spill in the Arctic in May.
Posted: Aug 12, 2020
Top executives of Germany-based now-defunct financial services provider Wirecard AG allegedly looted more than $1 billion from the company before its eventual collapse in June.
Posted: Aug 12, 2020
Insurance Australia Group Ltd. reported a modest negative impact of the COVID-19 pandemic on its financial results for the second half ended June 30.
Posted: Aug 12, 2020
Typhoon Mekkhala made landfall in China's Zhangpu county on Aug. 11 and led to the cancellation of at least 109 flights to and from the cities of Xiamen and Quanzhou.
Posted: Aug 12, 2020
Duck Creek Technologies Inc., a software company that serves the property/casualty insurance market, on Wednesday raised the price range for its initial public offering and expects to raise about $375 million.
Posted: Aug 12, 2020
Around 10,000 workers of major refineries and industrial projects in Iran's South Pars gas fields have been on strike since Aug. 1, over the late payment of wages, insecure employment contracts, poverty pay, and intolerable working conditions.
Posted: Aug 12, 2020
The coronavirus pandemic dealt a relatively modest $2.5 billion blow to five insurers with large U.S. operations in the second quarter - a cost that was far less than feared and which the industry has absorbed without touching capital, analysts said.
Posted: Aug 12, 2020
As the U.S. begins to report lower numbers of COVID-19 deaths and transmissions, many employers that had been shut down are beginning to bring workers back into the office — a move wrought with implications on safety and regulations.
Posted: Aug 12, 2020
Business Insurance on Tuesday announced the winners of the 2020 Innovation Awards.
Posted: Aug 11, 2020
Ralph Lauren Corp. has filed suit against Factory Mutual Insurance Co. charging the insurer has tried to “wrongfully shoehorn” its claim for COVID-19 coverage into a “narrow and limited grant of coverage” under its all risks policy, when its policy...
Posted: Aug 11, 2020
One80 Intermediaries Inc. has acquired Strategic Underwriting Managers Inc., a Toronto-based managing general agent for property, casualty and other specialty insurance products.
Posted: Aug 11, 2020
Origami Risk LLC and Gradient A.I. Corp. have formed a partnership allowing Gradient’s claims and policy modeling capabilities and predictive analytics resources to be used on Origami’s digital platform, the companies said in a joint release Tuesday.
Posted: Aug 11, 2020
Accident Fund Insurance Company of America, a member of AF Group, announced Tuesday that it has granted $3.5 million in early dividend payments to chambers of commerce, associations, hospitality and other groups who achieved targeted safety results i...
Posted: Aug 11, 2020
Global insured property losses from disasters totaled $31 billion in the first half of 2020, up 34.8% from $23 billion in the first half of 2019, Swiss Re Ltd. said in a report Tuesday.
Posted: Aug 11, 2020
The pitter-patter of little kids in the background is a work-from-home video conferencing etiquette no-no, according to a survey of 1,000 telecommuting workers in July.
Posted: Aug 11, 2020
The Tennessee Senate introduced and passed a bill Monday that would make COVID-19 an occupational disease for essential workers under certain conditions.
Posted: Aug 11, 2020
Alera Group Inc. has acquired Chicago-based brokerage Alper Services LLC, Alera said in a statement Tuesday.
Posted: Aug 11, 2020
A California judge on Monday granted the state’s request for a preliminary injunction blocking Uber Technologies Inc. and Lyft Inc. from classifying their drivers as independent contractors rather than employees.
Posted: Aug 11, 2020
Last week’s ruling by a federal district court judge in New York that overturns provisions of the Families First Coronavirus Response Act leaves employers in New York and elsewhere with questions as to how to proceed.
Posted: Aug 11, 2020
A survey by U.S.-based Marsh LLC found that rates for directors and officers liability insurance surged rose more than 100% in the United Kingdom in the second quarter of the year as insurers fear that the coronavirus pandemic will lead to hefty liti...
Posted: Aug 11, 2020
The Association of Insurance Companies in Lebanon said that only 30% of the damage caused by the Aug. 4 explosion at the Port of Beirut is insured.
Posted: Aug 11, 2020
French insurer Axa SA is considering the sale of its Singapore unit.
Posted: Aug 11, 2020
Typhoon Jangmi made landfall in South Korea's Gyeongsang province on Aug. 10, and killed 42 people and damaged more than 14,000 facilities.
Posted: Aug 11, 2020