Business Insurance
U.K.-based insurer and reinsurer Brit Ltd. received COVID-19 pandemic-related claims of nearly $128 million in the first half of the year.
Posted: Aug 04, 2020
Australia's Victoria state will shut down large parts of its retail and manufacturing sectors for six weeks across the city of Melbourne after a lockdown failed to contain a spike in coronavirus cases.
Posted: Aug 04, 2020
U.S.-based S&P Global Ratings Inc. said that New Zealand insurers' risks have remained stable through the year and the sector has mostly been unscathed by the COVID-19 pandemic.
Posted: Aug 04, 2020
The Insurance Regulatory and Development Authority of India could allow domestic and foreign insurance intermediaries to conduct operations in all the Special Economic Zones in the country.
Posted: Aug 04, 2020
China Railway Shanghai Group temporarily suspended trains on certain routes in the Yangtze River Delta region due to typhoon Hagupit.
Posted: Aug 04, 2020
At least seven tons of oil spilled in Russia's Komi Republic on Aug. 1 due to damage to pipeline.
Posted: Aug 04, 2020
A National Labor Relations Board ruling that abusive or inappropriate workplace speech by employees engaged in “protected concerted” or union activity is not protected under the National Labor Relations Act eliminates confusion and harmonizes federal...
Posted: Aug 04, 2020
American International Group Inc. on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns.
Posted: Aug 03, 2020
A superior court must look deeper at the relationships among several Alaskan companies to determine whether any are entitled to the exclusive remedy provisions on a worker’s personal injury claims.
Posted: Aug 03, 2020
A Travelers Cos. Inc. unit is not obligated to defend a trucking company for the damage caused by a hydrochloric acid cloud because of a pollution exclusion in its coverage, a federal appeals court said Friday, in affirming a lower court ruling.
Posted: Aug 03, 2020
USI Insurance Services LLC has acquired Troy, Michigan-based agency Colburn Group Insurance, the brokerage announced Monday.
Posted: Aug 03, 2020
A federal appeals court has reinstated litigation filed by a physician against a travel organization, holding the organization’s “anonymous” accounting in a magazine of the Mexico ziplining accident that resulted in his leg’s amputation defamed him w...
Posted: Aug 03, 2020
COVID-19 significantly impacted underwriting results for CNA Financial Corp., resulting in pretax net catastrophe losses of $301 million in the second quarter, the Chicago-based insurer reported Monday.
Posted: Aug 03, 2020
A California-based executive assistant has pleaded guilty to allegedly double-dipping on workers compensation claims.
Posted: Aug 03, 2020
Program administrator Axon Underwriting Services LLC said Monday it has acquired the renewal portfolio of Allianz Global Corporate & Specialty SE’s contaminated and consumer products recall insurance business written through Petaluma, California-base...
Posted: Aug 03, 2020
Mitchell/Genex, formerly known as Mitchell International Inc., announced Monday that it has completed its acquisition of Coventry Workers Comp Services from CVS Health.
Posted: Aug 03, 2020
Kathleen Reardon, CEO of Hamilton Re Ltd., the Bermuda-based reinsurance arm of Hamilton Insurance Group Ltd., and a founding member of the company, is leaving the firm.
Posted: Aug 03, 2020
Bausch Health Cos. Inc. has agreed to pay $45 million, and three former top executives also agreed to penalties, to settle charges of improper revenue recognition and misleading disclosures in U.S. regulatory filings, the U.S. Securities and Exchange...
Posted: Aug 03, 2020
Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co. Ltd., also known as Xiao-i, has filed a lawsuit against Apple Inc., alleging it has infringed on its patents.
Posted: Aug 03, 2020
Hefty payouts for sports events and holidays canceled due to the coronavirus crisis helped send insurer Hiscox Ltd. deep into the red on Monday and pummeled its shares to their lowest in more than two months.
Posted: Aug 03, 2020
Insurers that do not treat customers fairly when calculating payouts for business interruption due to the coronavirus crisis will face action by Britain's markets watchdog.
Posted: Aug 03, 2020
John Dacey, chief financial officer of Swiss Re Ltd., said that the reinsurer might have to increase the amount set aside to pay coronavirus pandemic-related business interruption claims if insurers lose test cases.
Posted: Aug 03, 2020
French carmaker Renault SA recorded a net loss of nearly €7.3 billion ($8.6 billion) in the first half of the year, due to the COVID-19 pandemic and troubles at its alliance partner Japan-based Nissan Motor Co. Ltd.
Posted: Aug 03, 2020
Irish insurer FBD Holdings PLC has set aside €30 million ($35 million) for losses related to a lawsuit over business interruption insurance.
Posted: Aug 03, 2020
Abdulla Sultan, chief executive of Bahrain Kuwait Insurance Co., said that international reinsurers are expected to increase their premiums by 10%-20% in some classes of insurance due to the COVID-19 pandemic.
Posted: Aug 03, 2020