Business Insurance
The cyber insurance market will continue its upward pricing momentum in the medium term in COVID-19, amid rising frequency and severity of claims, A.M. Best Inc. said in a report Tuesday.
Posted: Jul 21, 2020
Liberty Mutual Insurance Co. cannot claim premium for marine workers not covered by state workers compensation laws, a circuit court held in a decision published Monday.
Posted: Jul 21, 2020
The U.S. Justice Department indicted two Chinese nationals for hacking defense contractors, COVID researchers and hundreds of other victims worldwide, according to a court filing published on Tuesday.
Posted: Jul 21, 2020
Chubb Ltd. said Tuesday that Scott Meyer will succeed Bruce Kessler, who is retiring at the end of the year, as senior vice president of Chubb Group and division president of Westchester, the company’s wholesale and excess and surplus lines insurance...
Posted: Jul 21, 2020
A unit of UBS Group AG has agreed to pay more than $10 million to resolve charges it circumvented the priority given to retail investors in certain municipal bond offerings, the U.S. Securities and Exchange Commission said Monday.
Posted: Jul 21, 2020
NFL players have unleashed a strategy to get the league to take safety and COVID-19 seriously: social media.
Posted: Jul 21, 2020
West Virginia Gov. Jim Justice announced a proposed workers compensation loss cost reduction of 8.3%, which could save employers $16 million, according to a statement released Monday.
Posted: Jul 21, 2020
Hotel workers in California have filed a lawsuit seeking greater protections from COVID-19, while Nevada casino workers announced Monday that they have been granted expedited arbitration on their complaints about worker safety.
Posted: Jul 21, 2020
Bayer AG failed to persuade a California appeals court to overturn a verdict favoring a school groundskeeper who claimed its Roundup weed killer caused his cancer but reduced the amount of damages by 74% to $20.5 million.
Posted: Jul 21, 2020
American International Group Inc. Tuesday announced plans to move its headquarters next year from New York’s Financial District to Rockefeller Center in Midtown.
Posted: Jul 21, 2020
The U.K.'s Financial Conduct Authority said that the COVID-19 outbreak should trigger payments under insurance policies which provide cover when insured premises cannot be used due to restrictions imposed by authorities in the event of a pandemic.
Posted: Jul 21, 2020
Chinese authorities blasted a dam on Chuhe river in Anhui province on July 19 to release surging waters amid floods across the country.
Posted: Jul 21, 2020
Moroccan insurance brokers’ revenues have plummeted 70% since the onset of the COVID-19 pandemic, putting some 1,200 brokers at risk of bankruptcy.
Posted: Jul 21, 2020
Telecom Argentina SA suffered a ransomware attack on July 18 and hackers have demanded a ransom of $7.5 million to unlock encrypted files.
Posted: Jul 21, 2020
Posted: Jul 21, 2020
U.S.-based conglomerate The Libra Group Inc. has accused a former employee of stealing nearly €500 million ($572 million) in Greece.
Posted: Jul 21, 2020
The French Competition Authority has fined 12 companies a total of €93 million ($106 million) for conspiring to force slaughterhouses to sell their meat at a lower price and supermarkets to buy it for a higher price.
Posted: Jul 21, 2020
Data from Kyrgyzstan's National Statistical Committee showed that insurers' gross written premiums fell more than 6% year-over-year to 251.4 million Kyrgyzstanian som ($3.2 million) in the first quarter of the year.
Posted: Jul 21, 2020
Many colleges and even high schools are asking their athletes to sign COVID-19 waivers absolving the institutions of liability if they contract the virus, but experts question whether the documents will hold up in court.
Posted: Jul 21, 2020
A lawsuit filed Monday against Fox News charges terminated anchor Ed Henry had raped and sexually assaulted a former Fox News employee, and that other on-air personalities, including Sean Hannity and Tucker Carlson, had sexually harassed a Fox News c...
Posted: Jul 20, 2020
A witness who was a veteran firefighter, licensed master electrician and forensic expert was qualified to give expert testimony about a Pennsylvania shopping center fire, a federal appeals court panel ruled Friday in refusing an insurer’s request for...
Posted: Jul 20, 2020
Claims management company Global Risk Solutions Inc. said Monday it has bought Avon, Connecticut-based claims firm William Kramer & Associates.
Posted: Jul 20, 2020
While the U.S. Occupational Safety and Health Administration has yet to issue enforceable guidance for protecting workers from COVID-19, Virginia became the first state to create its own emergency temporary standard, and at least one state hopes to b...
Posted: Jul 20, 2020
A worker with preexisting depression showed that her workplace injury exacerbated her mental health condition, the Pennsylvania Commonwealth Court held in a decision released Thursday.
Posted: Jul 20, 2020
New York lawmakers on Friday introduced legislation that would limit the civil liability of employers and employees over possible transmission of COVID-19 “caused by an act or omission while acting in good faith” and causing death or injury.
Posted: Jul 20, 2020