Business Insurance
Kuwait Reinsurance Co. KSCP's gross written premiums declined 3.5% year-over-year to nearly 40 million Kuwaiti dinar ($130.5 million) in the first six months of the year.
Posted: Aug 05, 2020
German insurer Allianz on Wednesday posted a 29% fall in net profit for the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic slows business and clouds the outlook.
Posted: Aug 05, 2020
The government of Spain's Canary Islands has declared an emergency after a fire broke out in an industrial complex on the island of El Hierro on Aug. 4.
Posted: Aug 05, 2020
The Philippines' flag carrier PAL Holdings Inc. has cancelled all domestic flights to and from Manila until Aug. 18, as the country re-entered lockdown amid a surge in coronavirus cases.
Posted: Aug 05, 2020
U.K.-based law firm Rubric Lois King Solicitors has sued insurers on behalf of more than 300 businesses for denying business interruption claims related to the coronavirus pandemic.
Posted: Aug 05, 2020
As employers make plans to bring their employees back to the workplace in the fall, questions over liability and responsibility are leading some to require workers to sign waivers or acknowledgments concerning COVID-19. However, experts question whet...
Posted: Aug 05, 2020
The Captive Insurance Companies Association said Tuesday it has settled its event cancellation claim with insurer Tokio Marine HCC for its 2020 international conference that was canceled due to COVID-19.
Posted: Aug 04, 2020
A mechanical engineering firm cannot recover a pollution loss under its coverage because it filed its claim late, even though it was allegedly told by its insurer’s claims department to hold off filing a claim until a formal demand had been made, a f...
Posted: Aug 04, 2020
Health care industry employees have filed the majority of workers compensation claims related to COVID-19, according to a study released Wednesday by Mitchell International Inc.
Posted: Aug 04, 2020
Nebraska lawmakers unanimously voted to enable first responders diagnosed with mental illness or injury as a result of their jobs access to workers compensation.
Posted: Aug 04, 2020
A Liberty Mutual Insurance Group unit has prevailed in litigation over a damaged Houston skyscraper because the damage does not meet the requirements of ensuing loss provision, says a federal appeals court, in affirming a lower court ruling.
Posted: Aug 04, 2020
Following numerous requests for more time, Business Insurance has extended the deadline to submit nominations for the 2020 Women to Watch Awards until 11:59 p.m. Central on Aug. 19. This will be a hard deadline.
Posted: Aug 04, 2020
An appellate court dismissed an energy company’s argument that the circumstances surrounding the death of a subcontractor were not “tragic” enough to support a $2 million award to his widow.
Posted: Aug 04, 2020
Wholesale broker Worldwide Facilities LLC said Tuesday it has acquired Clearwater, Florida-based Clearwater Underwriters Inc., a surplus lines managing general agent.
Posted: Aug 04, 2020
One80 Intermediaries, a national wholesale broker, program manager and insurance aggregator, said Tuesday it has acquired Helotes, Texas-based National Underwriting Services Inc., a full-service managing general underwriter of medical stop loss insur...
Posted: Aug 04, 2020
Guy Carpenter & Co. LLC’s global head of operations John Ehinger has left the firm and his responsibilities have been taken on by Neil Mayer, Carpenter’s newly appointed chief operating officer.
Posted: Aug 04, 2020
A group of about 50 New York restaurants, ranging from high-end dining establishments to an iconic bagel shop, are suing their insurers for hundreds of millions of dollars in damages in a suit alleging their coronavirus-related business interruption...
Posted: Aug 04, 2020
Kuwaiti aircraft leasing company Alafco has halved its order for 40 Boeing 737 jets after reaching an agreement to end its legal claim over a canceled order for the planes, it said on Tuesday.
Posted: Aug 04, 2020
American International Group Inc.’s adjusted net income more than halved in the second quarter, reflecting a significant increase in coronavirus-related losses, but the insurer’s top executive said commercial insurance rates were increasing at the fa...
Posted: Aug 04, 2020
NFP Corp. acquired brokerage Rose & Kiernan Inc. in a deal that expands its middle-market expertise and footprint in the Northeast, NFP said in a statement Monday.
Posted: Aug 04, 2020
The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday.
Posted: Aug 04, 2020
France-based insurer Covea Groupe SAS plans to invest €1.5 billion ($1.8 billion) in entities managed by Bermuda-based reinsurer PartnerRe Ltd.
Posted: Aug 04, 2020
Insurer Hiscox Ltd. said that the eventual findings of the U.K. Financial Conduct Authority's business interruption test case could drive additional COVID-19 pandemic-related losses to its reinsurance book
Posted: Aug 04, 2020
Japanese insurers plan to introduce policies for corporate customers that base premiums on flood risk.
Posted: Aug 04, 2020
Reuters — Manhattan's district attorney on Monday suggested a grand jury subpoena for President Donald Trump's tax returns was part of an investigation of "possibly extensive and protracted criminal conduct at the Trump Organization," including alle...
Posted: Aug 04, 2020