Business Insurance
Japanese shipping company Mitsui OSK Lines-operated bulk carrier MV Wakashio, carrying thousands of tons of fuel, is at risk of splitting apart off the coast of Mauritius.
Posted: Aug 11, 2020
Brazil has proposed regulations to allow for the issuance of insurance-linked securities to help grow its insurance and reinsurance sector.
Posted: Aug 11, 2020
Oil India Ltd.'s second attempt to close the damaged well, which has been spewing gas for 76 days, at Baghjan oil field in the state of Assam failed when the iron cable to lift the well's lid snapped.
Posted: Aug 11, 2020
Australia's Sydney Airport booked a loss of nearly $52 million Australia ($37 million) for the first six months of the year, due to the COVID-19 pandemic.
Posted: Aug 11, 2020
China's National Meteorological Center issued a yellow alert for typhoon Mekkhala, which is expected to bring gales and heavy rains to the country's eastern and southern coastal regions.
Posted: Aug 11, 2020
One Republican and one Democrat returned on Monday as members of the National Labor Relations Board, which will continue to have a Republican majority at least through the end of next year.
Posted: Aug 10, 2020
Directors and officers liability insurance pricing increased 74.4% in the second quarter for Aon PLC clients, which was a slight increase over the percentage reported for the first quarter.
Posted: Aug 10, 2020
The insured loss arising from the explosion in Beirut, Lebanon, will hit multiple lines of insurance and is a reminder of the risks posed by hazardous materials in the supply chain, marine experts say.
Posted: Aug 10, 2020
In the latest industry poaching lawsuit, Arthur J. Gallagher & Co. has filed suit against Alliant Insurance Services Inc. and other defendants, charging them with conspiring with its former employees to steal confidential information and trade secret...
Posted: Aug 10, 2020
Fiat Chrysler Automobiles NV on Monday asked a U.S. federal judge to dismiss a request from General Motors Co. to reinstate a racketeering lawsuit against its smaller rival, comparing a recent GM filing to a “third-rate spy movie, full of preposterou...
Posted: Aug 10, 2020
A Michigan lawmaker introduced legislation on Thursday that would create a presumption that essential workers in the state who contract COVID-19 did so on the job.
Posted: Aug 10, 2020
A tugboat engineer can proceed with his negligence claims against the owner of the boat for back injuries he sustained while trying to secure a barge.
Posted: Aug 10, 2020
Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut will likely total less than $250 million, reinsurance broker Guy Carpenter & Co. LLC said on Monday.
Posted: Aug 10, 2020
A warehouse worker who was injured in a forklift accident cannot sue the company that owns the warehouse, which regularly allowed workers to engage in unsafe practices such as standing on a forklift in motion, an appeals court in New Jersey ruled on...
Posted: Aug 10, 2020
Brown & Brown Inc. has agreed to buy Hauser Inc., a brokerage that focuses on placing coverage for private equity groups, Brown & Brown announced Monday.
Posted: Aug 10, 2020
Commercial property insurance average pricing in the U.S. increased 22% in the second quarter of 2020, according to the Global Insurance Market Index released Monday by Marsh LLC.
Posted: Aug 10, 2020
McDonald’s Corp. said on Monday it sued former Chief Executive Steve Easterbrook to recoup tens of millions of dollars in severance and benefits, claiming he covered up and lied about sexual relationships with at least three employees.
Posted: Aug 10, 2020
The California Workers’ Compensation Institute this month released an online application to support interactive analyses and comparisons of COVID-19 and non-COVID-19 claims.
Posted: Aug 10, 2020
Chubb Ltd. on Monday named John Lupica president, North America insurance operations as Paul Krump was appointed vice chairman, global underwriting and claims.
Posted: Aug 10, 2020
Insured losses in the United States from Hurricane Isaias are expected to be around $4 billion, according to a report from Karen Clark & Co. on Monday.
Posted: Aug 10, 2020
French insurer Axa SA recorded COVID-19 pandemic-related claims of €1.5 billion ($1.8 billion) in the first half of the year.
Posted: Aug 10, 2020
A report by the United Nations said that the blast in Beirut on Aug. 4 has caused extensive damage at the Port of Beirut, which is expected to be out of use for at least one month.
Posted: Aug 10, 2020
Insurance Australia Group Ltd. has said that its $75 million Australia ($52.5 million) catastrophe bond has been fully exhausted by bushfire-related claims.
Posted: Aug 10, 2020
Foreign reinsurers are expected to pay more than 90% of the insured value of the Air India Express plane that was destroyed in a crash in the Indian state of Kerala on Aug. 7.
Posted: Aug 10, 2020
China-based Huawei Technologies Co. Ltd. would face huge losses as the production of its most advanced smartphone chips Kirin 9000 will stop from Sep. 15, due to U.S. sanctions.
Posted: Aug 10, 2020