Business Insurance
A federal appeals court on Wednesday overturned a lower court and reinstated medical products liability litigation filed by a patient against a breast implant manufacturer, ruling state law did not preempt the lawsuit.
Posted: Jul 21, 2022
Written premium in 2021 didn’t recover from the shockwaves of the COVID-19 pandemic as expected, but officials with the Workers’ Compensation Insurance Rating Bureau of California said they’re optimistic of a return this year to pre-pandemic levels.
Posted: Jul 21, 2022
A downward trend in the number of securities class actions filed against public companies continued in the first half and, if it holds, means litigation in this area will be down for the third straight year, says a report issued Wednesday.
Posted: Jul 20, 2022
The Illinois Insurance Department filed suit against units of Hartford Financial Services Group Inc. and Munich Re on Monday seeking recovery of $3.98 million stolen in a phishing scheme.
Posted: Jul 20, 2022
Christine Brown has been named to succeed Sandy Bigglestone as director of captive insurance at the Vermont Department of Financial Regulation in Montpelier.
Posted: Jul 20, 2022
With gas prices and the economy, not to mention near-daily news of air travel headaches and an ongoing pandemic, one might think vacations might be put on the back burner for the summer at least.
Posted: Jul 20, 2022
A North Carolina appeals court on Tuesday affirmed a lower court ruling in an insurer’s favor in a COVID-19-related business interruption case filed by the owner of a vacation rental property.
Posted: Jul 20, 2022
Munich Re Specialty Insurance Co. said Wednesday it has recruited former Chubb Ltd. underwriting leader Sean O’Connell as head of excess and surplus primary casualty.
Posted: Jul 20, 2022
Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.
Posted: Jul 20, 2022
U.S.-based insurer Berkshire Hathaway Specialty Insurance has opened a new office in Zurich, Switzerland, and appointed Leander Metzger as country manager.
Posted: Jul 20, 2022
An executive with Australia-based Honan Insurance Group Pty Ltd. said that most Australian cyber insurance markets have reduced their capacity by 50% on average, as they demand clients do more to avoid cyber attacks.
Posted: Jul 20, 2022
South-Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. said that it was losing 26 billion South Korean won ($19.8 million) a day due to a workers' strike at a main dock, resulting in an accumulated loss of about KRW570 billion won as of Jul...
Posted: Jul 20, 2022
Germany's vast chemicals industry has few options left to conserve natural gas amid uncertainty over Russian supplies, with companies risking production shutdowns in case the supply situation worsens.
Posted: Jul 20, 2022
Civil society organizations are demanding full compensation in a $4.5 billion lawsuit against Spanish energy firm Repsol SA and others for a major oil spill in January in Ventanilla, Peru.
Posted: Jul 20, 2022
A Florida jury found electric car maker Tesla Inc. 1% negligent in the death of an 18-year-old man whose Model S sedan slammed into a concrete wall after the car’s speed limiter had been deactivated, with the teenager and his father found to be 99% a...
Posted: Jul 20, 2022
Acting on the referrals, the Occupational Safety and Health Administration is investigating workplace safety issues at Amazon.com Inc. facilities in New York, Illinois and Florida, an OSHA spokeswoman said Tuesday.
Posted: Jul 20, 2022
Thomas Holzheu, chief economist, Americas, for Swiss Re, discusses how rising inflation will hit insurers and policyholders over the next year and beyond.
Posted: Jul 20, 2022
Earlier this month, the Occupational Safety and Health Administration announced a new initiative to conduct surprise safety inspections for fall hazards. A day later, the agency announced $32,113 in fines for a Florida construction company where a 19...
Posted: Jul 19, 2022
The New Jersey Supreme Court partially overturned a state appeals court on Monday and held that a condominium can pursue claims against an insurer of allegedly insolvent policyholders, but they must be arbitrated.
Posted: Jul 19, 2022
The Federal Trade Commission and National Labor Relations Board said Tuesday they have formed a partnership to protect workers from anti-competitive, unfair and deceptive practices, with areas of “mutual interest” including noncompete and nondisclosu...
Posted: Jul 19, 2022
Surplus lines premiums increased 32.4%, to $31.4 billion in the first half, according to the U.S. Surplus Lines Service and Stamping Offices’ 2022 midyear report, which was issued Tuesday.
Posted: Jul 19, 2022
Relation Insurance Inc. said Tuesday it has acquired Owings, Maryland-based Insurance Inc.
Posted: Jul 19, 2022
Twitter Inc.’s lawsuit seeking to hold Elon Musk to his $44 billion takeover will go to trial in October, a Delaware judge ruled on Tuesday, adopting a schedule closer to the proposal by the social media company.
Posted: Jul 19, 2022
Hub International Ltd. said Tuesday it has named Andy Prill, formerly president and CEO of Hub Northwest, to regional president of the newly created Mountain Northwest region.
Posted: Jul 19, 2022
Facebook owner Meta Platforms Inc. was hit with a trademark lawsuit in Manhattan federal court Tuesday by MetaX LLC, a company that creates immersive virtual reality experiences, for allegedly stealing its name.
Posted: Jul 19, 2022