Business Insurance
Uganda Reinsurance Co. Ltd.'s gross written premiums increased nearly 51% year-over-year to 50.5 billion Kenyan shillings ($464 million) in 2019.
Posted: Aug 10, 2020
The Australian tourism industry could lose around $10 billion in cancelled trips, including flights, hotels, tours and car hire, due to coronavirus lockdowns.
Posted: Aug 10, 2020
Objectors to class-action lawsuit settlements should not be allowed to engage in “blackmail” for their own financial benefit, said a federal appeals court Thursday in reversing a lower court ruling.
Posted: Aug 07, 2020
Insured losses from Hurricane Isaias are expected to top $1 billion, according to a report Friday from Aon PLC.
Posted: Aug 07, 2020
The Country Music capital’s board authority on beer is asking a federal court to toss out a lawsuit filed by several Nashville, Tennessee, honky-tonk bars over COVID-19 closures.
Posted: Aug 07, 2020
The $46,000 fine and probation levied against a U.S. Postal Service worker convicted of lying about her workers compensation-related travel were upheld by an appellate court Thursday.
Posted: Aug 07, 2020
The New Mexico Environment Department filed an emergency amendment Wednesday to require employers to disclose positive COVID-19 cases among their employees to the state within four hours of being notified of the test results.
Posted: Aug 07, 2020
Georgia Gov. Brian Kemp on Wednesday signed into law a bill that provides businesses and health care facilities and workers with immunity from COVID-19-related litigation.
Posted: Aug 07, 2020
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say.
Posted: Aug 07, 2020
AbbVie Inc. has agreed to pay $24 million to settle a lawsuit that alleged insurance fraud by the drugmaker in promoting its blockbuster drug Humira, California’s insurance regulator said on Thursday.
Posted: Aug 07, 2020
Bermuda-based insurance and reinsurance groups Third Point Reinsurance Ltd. and Sirius International Insurance Group Ltd. have agreed to merge in a deal valued at $788 million.
Posted: Aug 07, 2020
A California judge signaled on Thursday he might be leaning against a request for a preliminary injunction forcing Uber Technologies Inc. and Lyft Inc. to classify drivers as employees rather than contractors.
Posted: Aug 07, 2020
The coronavirus pandemic’s impact on insurers became clearer as several released second-quarter results. On the litigation front, groups of restaurants in New York and Chicago sued insurers for COVID-19 cover.
Posted: Aug 07, 2020
Finnish insurer Sampo Oyj and South Africa-based Rand Merchant Investment Holdings Ltd. plan to acquire U.K.-based insurer Hastings Group Holdings PLC for around £1.66 billion ($2.2 billion).
Posted: Aug 07, 2020
The blast in Beirut on Aug. 4 is expected to have caused up to $15 billion worth of damage, an increase from an earlier estimate of $5 billion.
Posted: Aug 07, 2020
U.K.-based insurer Aviva PLC received COVID-19 pandemic-related claims of £441 million ($580 million) in the first half of the year, of which around 63% or £276 million ($363 million) will be passed on to reinsurers.
Posted: Aug 07, 2020
A report by Aon PLC said that heavy rains and floods caused more than $20 billion worth of damage in Asia in July.
Posted: Aug 07, 2020
U.K.-based outsourced insurance buyer Mactavish Group said that construction companies should expect considerable erosion in the quality and extent of insurance cover offered following the COVID-19 pandemic.
Posted: Aug 07, 2020
Data from the China Banking and Insurance Regulatory Commission showed that six provinces received a total of 188,000 flood-related insurance claims worth nearly 5.3 billion Chinese yuan ($763 million) in the past month.
Posted: Aug 07, 2020
Insurers on Thursday scored their third straight victory in cases involving COVID-19 business interruption claims when a District of Columbia judge ruled that the forced closure of a dozen restaurants in Washington did not constitute a direct physica...
Posted: Aug 06, 2020
Capital One Financial Corp. will pay an $80 million penalty to a U.S. bank regulator after the bank suffered a massive data breach one year ago.
Posted: Aug 06, 2020
Posted: Aug 06, 2020
A federal appeals court has overturned a lower court ruling and reinstated a hostile work environment case filed by a supermarket deli worker who said a fellow worker allegedly stared at her, stood within one or two feet of her, followed her around a...
Posted: Aug 06, 2020
Acquisitive brokerage Patriot Growth Insurance Services LLC has bought Cypress, California-based agency Bowermaster and Associates, Patriot announced Thursday.
Posted: Aug 06, 2020
Australia will spend A$1.66 billion ($1.19 billion) over the next 10 years to strengthen the cyber defenses of companies and households after a rise in cyberattacks, Prime Minister Scott Morrison said on Thursday.
Posted: Aug 06, 2020