Business Insurance
About two-thirds of payments made to injured workers in New Jersey were incorrect, according to an audit report issued Thursday by the state’s Office of the State Comptroller.
Posted: Jul 14, 2020
Andrew Tunnicliffe, a former longtime Aon PLC executive, will return to the brokerage in the newly created role of U.K. chairman, global and specialty, Aon announced Tuesday.
Posted: Jul 14, 2020
Travelers Cos. Inc. expects to report pretax catastrophe losses of $854 million and coronavirus-related losses of $114 million when it publishes its second-quarter results next week.
Posted: Jul 14, 2020
A report by Swiss Re Institute expects insurance markets of oil exporting nations in the Middle East & Africa region to be hit the hardest by the COVID-19 pandemic.
Posted: Jul 14, 2020
South Africa-based insurer Santam Ltd. has requested an urgent meeting with the U.K.'s Financial Sector Conduct Authority after the regulator recognized the COVID-19 pandemic to be the primary cause of business interruption claims.
Posted: Jul 14, 2020
South Africa-based insurer Santam Ltd. has requested an urgent meeting with the U.K.'s Financial Sector Conduct Authority after the regulator recognized the COVID-19 pandemic to be the primary cause of business interruption claims.
Posted: Jul 14, 2020
U.S.-based cybersecurity firm Cyble Inc. said that India-based Religare Health Insurance Co. Ltd.'s five million records were hacked and are available for sale online.
Posted: Jul 14, 2020
South Korea's Financial Supervisory Service is probing insurers for increasing insurance premiums, after Meritz Fire & Marine Insurance Co. Ltd. raised its damage inspection fee, a key element in calculating premiums.
Posted: Jul 14, 2020
The People's Insurance Company (Group) of China Ltd.'s premiums grew more than 4% year-over-year to surpass 335 billion Chinese yuan ($48 billion) in the first half of the year.
Posted: Jul 14, 2020
An explosion at a gas condensate plant in the Kavian Fariman industrial zone in Iran on July 13 caused extensive damage to the company and to a neighboring firm.
Posted: Jul 14, 2020
A powerful storm made landfall in the South African province of Western Cape on July 13 and brought rains, snow and gale-force winds that uprooted trees and tore off roofs.
Posted: Jul 14, 2020
Last week’s U.S. Supreme Court ruling holding that a “ministerial exception” protects a pair of parochial schools from federal age and disability discrimination charges in connection with the firing of two teachers leaves gray areas, experts say.
Posted: Jul 14, 2020
A Texas CBS Corp. division will pay a $215,000 settlement to a freelance traffic reporter who was rejected for a staff position in favor of a much younger applicant, a former NFL cheerleader, in an age discrimination lawsuit filed by the U.S. Equal E...
Posted: Jul 13, 2020
Two plaintiff law firms in the Harvey Weinstein litigation filed objections to preliminary approval of a proposed class settlement in federal court Monday.
Posted: Jul 13, 2020
Guy Carpenter & Co., the reinsurance broking unit of Marsh & McLennan Cos., has named Willis Towers Watson PLC veteran Henry Lawrence to the newly created position of managing director, GC Fac UK, effective Aug. 17.
Posted: Jul 13, 2020
Lloyd’s of London will relinquish its admitted insurance licenses in Kentucky, Illinois and the U.S. Virgin Islands, the insurance market announced Friday.
Posted: Jul 13, 2020
Posted: Jul 13, 2020
Axis Insurance, a unit of Pembroke, Bermuda-based Axis Capital Holdings Ltd., said Monday it has hired three cyber underwriters.
Posted: Jul 13, 2020
Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country.
Posted: Jul 13, 2020
Credit Suisse Group AG agreed to pay $15.5 million to settle a lawsuit accusing it of defrauding shareholders about its risk appetite and management before taking $1 billion of write-downs on souring debt, court filings on Friday show.
Posted: Jul 13, 2020
Microsoft Corp.’s LinkedIn was sued by a New York-based iPhone user on Friday for allegedly reading and diverting users’ sensitive content from Apple Inc.’s Universal Clipboard application.
Posted: Jul 13, 2020
A company that markets a face mask that enables the wearer to enjoy a beverage while protecting themselves and others against the spread of COVID-19 is threatening to sue another company alleging their similar masks are dangerous knockoffs.
Posted: Jul 13, 2020
Heavy rains and floods have caused more than 82 billion Chinese yuan ($11.7 billion) worth of damage in China.
Posted: Jul 13, 2020
Turkish bank Turk Eximbank will provide a nearly $80 million reinsurance cover to the U.K. Export Finance Agency's energy projects in Iraq.
Posted: Jul 13, 2020
Industry experts said that the Asia Pacific region has become a key component of the global insurance-linked securities market as interest from cedants and issuers continues to rise.
Posted: Jul 13, 2020