Business Insurance
A health club failed to timely file dispute forms to defend against a workers compensation claim filed by one of its employees and can no longer defend the claim, an appeals court in Connecticut ruled Tuesday.
Posted: Jul 15, 2020
With the rapid economic downturn brought on by the COVID-19 pandemic combined with continued insurer rate decreases in California, statewide workers compensation premium is forecast to drop by over 20% in 2020, according to a report released Tuesday...
Posted: Jul 15, 2020
Alphabet Inc.’s Google records what people are doing on hundreds of thousands of mobile apps even when they follow the company’s recommended settings for stopping such monitoring, a lawsuit seeking class-action status alleged on Tuesday.
Posted: Jul 15, 2020
Lloyd’s of London syndicates managed by Beazley PLC on Monday sued the Roman Catholic Archdiocese of Indianapolis seeking to rescind sexual misconduct excess liability coverage it had issued to the church.
Posted: Jul 15, 2020
Massachusetts on Tuesday followed California in suing Uber Technologies Inc. and Lyft Inc. over allegedly misclassifying their drivers as independent contractors instead of employees entitled to extensive benefits.
Posted: Jul 15, 2020
Shipping losses have declined dramatically over the past 10 years to a record yearly low, even as political tensions and piracy raise concerns, according to a report released Wednesday by Allianz Global Corporate and Specialty.
Posted: Jul 15, 2020
Green Plains Inc., one of the biggest U.S. ethanol producers, sued Archer Daniels Midland Co. on Tuesday, accusing the global grain trader of manipulating the price of the biofuel to profit from its positions in the derivatives market.
Posted: Jul 15, 2020
The consortium of German civil engineering company Bilfinger SE and construction firms Wayss & Freytag Ingenieurbau AG and Ed. Zublin AG has agreed to pay €600 million ($682 million) to settle claims arising from the collapse of Cologne city's archiv...
Posted: Jul 15, 2020
The United Kingdom's phased removal of China-based Huawei Technologies Co. Ltd. from its 5G network could hurt local mobile providers that have relied on the company's equipment for nearly 20 years.
Posted: Jul 15, 2020
Germany-based Allianz SE has completed the acquisition of Brazilian insurer SulAmerica SA's property/casualty and car insurance unit for around €500 million ($569 million).
Posted: Jul 15, 2020
South Africa-based Guardrisk Insurance Co. Ltd. plans to appeal a high court ruling requiring it to pay local restaurant Cafe Chameleon's COVID-19 pandemic-related business interruption claim.
Posted: Jul 15, 2020
Insurance industry experts have said that parametric insurance is increasingly gaining popularity among risk managers in Asia as it provides protection against natural catastrophes.
Posted: Jul 15, 2020
The Italian farmers' association said that the COVID-19 pandemic has cost the olive oil industry €2 billion ($2.3 billion).
Posted: Jul 15, 2020
An insurer providing cover to New Plymouth District Council in New Zealand is considering not insuring the council for the rest of the year after paying out a claim of $1.36 million New Zealand ($887,937).
Posted: Jul 15, 2020
A report by Egypt's Financial Regulatory Authority said that insurers' premiums increased 15.6% year-over-year to nearly 9.5 billion Egyptian pounds ($594 million) in the first quarter of the year.
Posted: Jul 15, 2020
With President Donald Trump calling for campuses to welcome students in the fall and numerous large school districts around the country announcing that online-only schooling will continue, risk management teams are grappling with how to safely procee...
Posted: Jul 15, 2020
A federal appeals court has affirmed a lower court ruling that holds an insurer is not obliged to take depreciation into account when calculating a payment for damaged roofs.
Posted: Jul 14, 2020
Berkshire Hathaway Inc. asked a federal court on Monday to dismiss a lawsuit filed by a policyholder of one of its insurance units that sought business interruption coverage for losses related to the coronavirus.
Posted: Jul 14, 2020
Posted: Jul 14, 2020
A federal judge on Tuesday rejected a proposed class-action settlement in litigation filed by Harvey Weinstein’s victims.
Posted: Jul 14, 2020
Cyber insurer and security company Coalition Inc. said Monday it has named Marcin Weryk head of business development, a new position.
Posted: Jul 14, 2020
The mental health history of a woman who broke her ankle after slipping on ice in workplace parking lot in 2015 and continued to have ankle pain for years may be relevant to her workers compensation pain and disability, the Supreme Court of Alaska ru...
Posted: Jul 14, 2020
First-quarter global reinsurance capital decreased about 6% from the year-earlier period to $590 billion, and there was a “modest but progressive” tightening of capacity at midyear renewals, according to a report Tuesday from Aon PLC.
Posted: Jul 14, 2020
There’s nothing gnarly about damaging one’s prized surfboard, as surfers well know the sinking feeling of a massive ding in the fragile fiberglass of an already expensive board that’s been with you through those choppy waters.
Posted: Jul 14, 2020
Insured losses from Tropical Storm Fay will be close to $400 million, Boston-based catastrophe modeler Karen Clark & Co. said in a statement Tuesday.
Posted: Jul 14, 2020