Business Insurance
Alaa El-Zoheiry, president of the Insurance Federation of Egypt, said the Ukraine-Russia conflict has affected shipping activities in the region, causing the suspension of imports of agricultural and industrial goods which have increased marine insur...
Posted: Jul 26, 2022
Torrential rains and floods in the north and northeastern regions of Bangladesh in May caused more than 868 billion Bangladeshi taka ($9.2 billion) worth of property and crop damage.
Posted: Jul 26, 2022
Commercial insurance industry reserves remain solid and largely continue to produce favorable development, despite high inflation, industry sources say.
Posted: Jul 26, 2022
T-Mobile US Inc. agreed Friday to pay $350 million to settle litigation over a cyberattack last year that compromised information belonging to an estimated 76.6 million people.
Posted: Jul 25, 2022
A former Goldman Sachs banker, a former FBI agent trainee, a technology executive and others were charged on Monday with insider trading in separate schemes that together generated millions of dollars in profits, U.S. prosecutors said.
Posted: Jul 25, 2022
An arbitrator is the one to decide whether a dispute over a reinsurance agreement should be submitted to an arbitrator or a judge, a federal appeals court said Friday, in affirming a lower court ruling.
Posted: Jul 25, 2022
Bermuda-based specialty insurer and reinsurer Fidelis Insurance Holdings Ltd. said Monday it intends to form a managing general underwriter separate from its existing balance sheet insurance businesses.
Posted: Jul 25, 2022
A federal appeals court on Friday reinstated a disability discrimination claim filed by a call center employee who was terminated after seeking a reduced schedule under the Family and Medical Leave Act.
Posted: Jul 25, 2022
Insurers in India had made a profit of nearly 400 billion Indian rupees ($5 billion) under the central government's flagship crop insurance scheme over the last over five years.
Posted: Jul 25, 2022
Japanese firm Yamaha Corp. said that the global semiconductor shortage is harming its musical instrument business and it could see about 30 billion Japanese yen ($220 million) in opportunity losses this fiscal year.
Posted: Jul 25, 2022
Germany-based ailing energy firm Uniper SE has said it expects losses of €6.2 billion ($6.3 billion) due to reduced deliveries of Russian gas that have forced the company to buy gas at much higher prices elsewhere.
Posted: Jul 25, 2022
Uber Technologies Inc. on Friday accepted responsibility for covering up a 2016 data breach that affected 57 million passengers and drivers, as part of a settlement with U.S. prosecutors to avoid criminal charges.
Posted: Jul 25, 2022
American International Group Inc. on Monday said former Acacia Holdings Ltd. CEO Charlie Fry has been named executive vice president, reinsurance purchasing and risk capital optimization, effective July 31.
Posted: Jul 25, 2022
A Cowlitz County, Washington, logger who faked injuries to collect workers compensation benefits and who was caught dancing must repay the state $163,566.
Posted: Jul 25, 2022
The Department of Labor has cited a Family Dollar Inc. store in Orlando, Florida, for willful and repeat safety violations in connection with a fatal shoplifting incident and proposed $330,446 in penalties.
Posted: Jul 25, 2022
Falvey Insurance Group has introduced a comprehensive liability coverage package policy for logistic service providers and transport operators.
Posted: Jul 21, 2022
Brokerages Virtus LLC in Overland Park, Kansas, and Kemmons Wilson Insurance Group LLC in Memphis, Tennessee, have merged, creating a company with about $20 million in revenue, the companies said in a statement Thursday.
Posted: Jul 21, 2022
The U.S. Department of Justice’s resolutions under the False Claims Act, which totaled more than $500 million during this year’s first half, have outpaced activity in the comparable period in 2021, but many of them have been “relatively modest,” says...
Posted: Jul 21, 2022
W.R. Berkley Corp. on Thursday reported a 22.4% decrease in net income, to $279.3 million in the second quarter.
Posted: Jul 21, 2022
Travelers Cos. Inc. on Thursday reported a lower profit for the second quarter as catastrophe losses rose and investment income dropped, but the insurer saw revenue rise as rates and insured exposures continued to increase.
Posted: Jul 21, 2022
Who-oooo will launch your latest ad campaign? For Mercury Insurance, it’s the music artist Jewel.
Posted: Jul 21, 2022
Marsh & McLennan Cos. Inc. reported a double-digit increase in underlying revenue in the second quarter and expects continued growth in 2022 despite the rising risk of a recession.
Posted: Jul 21, 2022
Most major lines of commercial insurance experienced quarter-over-quarter increases in average premium renewal rate change, with umbrella a notable exception, Ivans Insurance Services reported Thursday.
Posted: Jul 21, 2022
As California lawmakers for the second year consider reducing the amount of time allowed for workers compensation claims administrators to investigate the compensability of occupational injury or illness claims, an analysis by the California Workers’...
Posted: Jul 21, 2022
Willis Towers Watson PLC said Thursday it has recruited five executives — two from Aon PLC, two from Marsh & McLennan Cos. Inc., and one from USI Insurance Services LLC — to its North American natural resources business in Houston.
Posted: Jul 21, 2022