Business Insurance
Insured losses from Hurricane Hanna will be close to $350 million, Boston-based catastrophe modeler Karen Clark & Co. said in a statement Tuesday.
Posted: Jul 28, 2020
Hotels in Canada have sued U.K.-based insurer Aviva PLC for $150 million for denying business interruption claims related to the COVID-19 pandemic.
Posted: Jul 28, 2020
Data from the China Banking and Insurance Regulatory Commission showed that flood-related claims surpassed 2.4 billion Chinese yuan ($343 million) as of July 17.
Posted: Jul 28, 2020
U.K.-based data analytics firm GlobalData PLC predicts Thailand's nonlife insurance market to contract 5.6% this year due to the COVID-19 pandemic.
Posted: Jul 28, 2020
Nearly 50 hours of secretly recorded tapes revealed that Germany-based Volkswagen AG had engaged in legally dubious behavior in a dispute with Bosnian auto parts supplier Prevent Group CEE.
Posted: Jul 28, 2020
Fire at a plastics plant in the Dominican province of San Cristobal damaged nearly 95% of the factory complex on July 26.
Posted: Jul 28, 2020
Adi Pramana, president director of Tugu Reasuransi Indonesia PT, said that the insurer's gross written premiums increased 31% year-over-year to more than 3 trillion Indonesian rupiah ($206 million) last year.
Posted: Jul 28, 2020
Marine insurers are continuing to increase prices on lower reinsurance capacity, and underwriters also are contending with heightened political tensions in various international shipping areas, sources say.
Posted: Jul 28, 2020
A federal judge overseeing thousands of opioid lawsuits declined on Monday to grant a demand by plaintiffs attorneys for fees that could be worth billions of dollars, a request drug company defendants had said would jeopardize settlement talks.
Posted: Jul 27, 2020
California’s attorney general and state and local agencies are investigating whether Amazon.com Inc. has taken adequate steps to protect its workers from the coronavirus pandemic, according to a court filing on Monday.
Posted: Jul 27, 2020
The U.S. Federal Trade Commission said on Monday that buyers of polluting Volkswagen AG vehicles received more than $9.8 billion in settlements.
Posted: Jul 27, 2020
Masks are making facial recognition algorithms more problematic, says a study issued by the National Institute of Standards and Technology on Monday.
Posted: Jul 27, 2020
A New York lawmaker has introduced legislation that would require measures be taken to help prioritize the care of children of essential workers during an emergency.
Posted: Jul 27, 2020
A New York hospital at the center of the state’s response to the COVID-19 pandemic sued a Chubb Ltd. unit on Friday seeking coverage for coronavirus-related losses under a health care premises pollution liability policy.
Posted: Jul 27, 2020
California will implement new safeguards and has drafted a playbook to help protect the state’s frontline workers from COVID-19 and aid employers in reopening their businesses, Gov. Gavin Newsom said in a statement Friday.
Posted: Jul 27, 2020
The intoxication of a carpenter who fell from the roof of a house he was working on may have contributed to his accident, the Alaska Supreme Court held Friday.
Posted: Jul 27, 2020
A public sewage entity must pay death benefits to the family of a worker who took his own life after a work-related head injury led to a “degradation of his mental status,” the Appellate Division of the Supreme Court of New York ruled Thursday.
Posted: Jul 27, 2020
U.S. courts have seen more than 200 complaints filed against corporations alleging they are responsible for introducing and spreading COVID-19, Praedicat Inc. said Monday.
Posted: Jul 27, 2020
Axa XL, a division of Axa SA, on Monday announced its new Americas leadership team, building on the realignment first announced in April.
Posted: Jul 27, 2020
Cheers bar in Boston says business interruption coverage “sure would help a lot” in its lawsuit against its insurer for refusing to pay its claims for COVID-19 shutdown losses.
Posted: Jul 27, 2020
Under Armour Inc. disclosed on Monday that its top executives had received a Wells notice from the U.S. Securities and Exchange Commission related to an investigation about the sportswear maker's accounting practices.
Posted: Jul 27, 2020
South African insurer Santam aims to pay out around $60 million in relief within months to clients hit by the coronavirus pandemic, its CEO said on Monday, amid criticism of the sector's handling of policies that companies thought would cover them.
Posted: Jul 27, 2020
French reinsurer Scor SE's gross reinsurance premiums increased 1.3% to €717 million ($836 million) at the July renewals.
Posted: Jul 27, 2020
Insurance Australia Group Ltd. added a new catastrophe reinsurance cover and a stop loss cover at the July renewals.
Posted: Jul 27, 2020
Qatar Insurance Co.'s gross written premiums increased 13% year-on-year to 7.2 billion Qatari riyal ($2 billion) in the first half of the year, despite challenging market conditions.
Posted: Jul 27, 2020