Business Insurance
The U.S. Securities and Exchange Commission announced Thursday that it had fined World Acceptance Corp., a consumer loan company, $21.7 million for paying bribes in Mexico.
Posted: Aug 06, 2020
The CEO of Axa on Thursday expressed confidence in the French insurer's company-focused XL Group after the business reported a loss in the first half following a spike in COVID-19-related claims.
Posted: Aug 06, 2020
A romantic devil in Sheffield, England, spent two weeks planning a marriage proposal to remember for his sweetheart, but ended up burning down the couple’s home when the stunt went wrong.
Posted: Aug 06, 2020
French insurer Axa said on Thursday the planned €1 billion ($1.2 billion) sale of its Axa Life Europe unit to Cinven had collapsed, and that it would make no fourth-quarter shareholder payouts after net income fell 40% in the first half.
Posted: Aug 06, 2020
The blast in Beirut on Aug. 4 is expected to have caused up to $5 billion worth of damage.
Posted: Aug 06, 2020
Japan-based Canon Inc. suffered a ransomware attack, in which 10 terabytes of data was stolen.
Posted: Aug 06, 2020
Austria-based Uniqa Insurance Group AG has received regulatory approval for the acquisition of French insurer Axa SA's units in Poland, the Czech Republic and Slovakia.
Posted: Aug 06, 2020
Poland's anti-monopoly watchdog has fined Russian energy firm PJSC Gazprom 213 million Polish zloty ($57 million) for not cooperating in its proceedings with regard to the Nord Stream 2 gas pipeline.
Posted: Aug 06, 2020
Saudi Reinsurance Co.'s gross written premiums increased more than 30% year-over-year to surpass 659 million Saudi riyal ($176 million) in the first half of the year.
Posted: Aug 06, 2020
Heavy rains triggered floods and landslides in South Korea and caused widespread damage after two areas were declared disaster zones after 42 consecutive days of rain.
Posted: Aug 06, 2020
A federal district judge has issued a ruling that removes limits as to employees taking leave if there is no work available under a regulation issued by the Department of Labor under the Families First Coronavirus Response Act.
Posted: Aug 05, 2020
A general liability insurer has no duty to defend a “pro bono” contractor for the injuries a church worker sustained on its job site, an appellate court held Tuesday.
Posted: Aug 05, 2020
Neil Young wants you to “keep on rockin’ in the free world” — unless you’re at a Trump rally.
Posted: Aug 05, 2020
Employees who are using opioids legally are protected under federal disability law and can request an accommodation if its use creates a safety issue, the U.S. Equal Employment Opportunity Commission says in employee guidance issued Wednesday.
Posted: Aug 05, 2020
A power line company must still pay nearly $12,000 in fines after federal inspectors found safety and health violations following the death of a worker.
Posted: Aug 05, 2020
Arthur J. Gallagher & Co. has acquired Canada-based retail brokerage Insight Insurance & Risk Management Ltd., Gallagher announced Wednesday.
Posted: Aug 05, 2020
Researchers at Colorado State University on Wednesday upgraded their forecast for the 2020 Atlantic season to “extremely active” from “very active.”
Posted: Aug 05, 2020
German reinsurer Hannover Re SE on Wednesday said it will see a “major loss” from the explosion in Beirut, Lebanon, as it reported net income fell 39.3% to €402 million ($478 million) for the first half of the year.
Posted: Aug 05, 2020
July’s most popular Off Beat story featured a Kit Kat lawsuit. A story on Amazon delivering car insurance was No. 2 for page views for the month.
Posted: Aug 05, 2020
A U.S. judge on Tuesday sentenced former Google engineer Anthony Levandowski to 18 months in prison for stealing a trade secret from Google related to self-driving cars months before becoming the head of Uber Technologies Inc.'s rival unit.
Posted: Aug 05, 2020
Commercial insurance rates continued to rise in most lines in July although in some cases the pace of the increases slowed slightly from the prior month, according to insurance exchange Ivans Insurance Services’ monthly pricing index released Wednesd...
Posted: Aug 05, 2020
U.S. prosecutors are pursuing possible penalties of nearly $13 billion to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming from the company's alleged role in fueling the natio...
Posted: Aug 05, 2020
Guy Carpenter & Co. LLC named Peter Askew president and CEO of its Canadian operations, replacing its long-standing top executive in the country, as the reinsurance broker continues to revamp its management.
Posted: Aug 05, 2020
A powerful blast at port warehouses in Lebanon's capital Beirut on Aug. 4 killed 78 people and injured nearly 4,000 others.
Posted: Aug 05, 2020
Hong Kong has approved a new insurance bill to allow for the issuance of insurance-linked securities such as catastrophe bonds.
Posted: Aug 05, 2020