Business Insurance
According to global flight analysis company Cirium, airlines have canceled more than 25,300 flights for August globally, of which nearly 15,800 are European flights, signaling continuation of air travel disruptions in Europe.
Posted: Jul 13, 2022
Insurance brokers expect that insurance buyers are likely to face higher premiums and difficult policy negotiations with their insurers, as underwriters grow wary of costlier claims amid rising inflation and continued supply chain disruptions.
Posted: Jul 13, 2022
The French insurance federation said that a spate of severe hail and windstorms in France since the end of May has led to almost €4 billion ($4.1 billion) in insured losses.
Posted: Jul 13, 2022
The Office of Disability Employment Policy, Office of Workers’ Compensation Programs and other departments under the U.S. Department of Labor announced plans Tuesday to begin a “national online dialogue” to better understand the implications of long...
Posted: Jul 13, 2022
There might be something fishy about Subway tuna, according to a federal judge in the U.S. District Court for the Northern District of California, who has allowed a lawsuit against the sandwich chain to proceed.
Posted: Jul 13, 2022
Felix Morgan, chief financial officer and chief operating officer of PCF Insurance Services, sees the active market for brokerage acquisitions continuing despite rising interest rates.
Posted: Jul 12, 2022
A lawsuit filed Monday in state court in Georgia charges Argo Group with first undermining and then competing with its former construction program manager, leaving it “dead in the water.”
Posted: Jul 12, 2022
Unidentified hackers attempted to trick European Central Bank President Christine Lagarde into letting them open a messaging app account in her name by posing as former German chancellor Angela Merkel, a German source said on Tuesday.
Posted: Jul 12, 2022
Patriot Growth Insurance Services LLC said Tuesday it has acquired Philadelphia-based BMT Insurance Advisors.
Posted: Jul 12, 2022
Willis Towers Watson PLC said Tuesday it has acquired Butterwire, a financial analytics company with expertise in climate risks.
Posted: Jul 12, 2022
Teva Pharmaceutical Industries Ltd. and AbbVie Inc.’s Allergan unit on Tuesday reached a $58 million settlement with the city of San Francisco just before completion of a trial over claims that they fueled an opioid epidemic in the city.
Posted: Jul 12, 2022
It’s rare for a workers compensation recipient to voluntarily partake in opportunities that might prove fraud via video recordings.
Posted: Jul 12, 2022
USI Insurance Services LLC on Monday filed a request for expedited discovery in noncompete litigation it filed against a former employee who formed his own brokerage.
Posted: Jul 12, 2022
The National Reinsurance Corp. of the Philippines expects better earnings this year as economic conditions in the Philippines show signs of improvements after relaxation of COVID-19 restrictions.
Posted: Jul 12, 2022
German commercial insurance broker MRH Trowe AG recently completed acquisitions as it tries to strengthen its position across various insurance segments and regions.
Posted: Jul 12, 2022
Moody’s Investors Service Inc. has upgraded German insurer Allianz SE’s outlook to “positive” from “stable” based on its strong capitalization and earnings that are expected to help the insurer withstand pressure from macroeconomic headwinds.
Posted: Jul 12, 2022
The Insurance Council of Australia said the number of insurance claims related to the latest floods in New South Wales have surpassed 10,500, reflecting a 25% increase over the previous figure of approximately 8,400.
Posted: Jul 12, 2022
Oman-based National Life and General Insurance Co. SAOG has completed its acquisition of property and casualty insurer Royal & Sun Alliance Insurance (Middle East) BSC.
Posted: Jul 12, 2022
Investment banking firm Jefferies International Ltd. said that Lloyd’s of London underwriters face ‘benign’ catastrophe losses but continue to benefit from rate hikes as capacity withdrawals drive up prices.
Posted: Jul 12, 2022
States have been moving further away from the National Commission on State Workers’ Compensation recommendations to better serve injured workers, panelists said Monday at a Department of Labor event in Washington commemorating the 50th anniversary of...
Posted: Jul 12, 2022
NFP Corp. said Tuesday it has set up a captive management company in Alberta following the enactment of captive legislation in the Canadian province.
Posted: Jul 12, 2022
Willis Towers Watson PLC endured a challenging year in 2021 that saw it shift gears and regroup as an independent brokerage, change its senior leadership and largely exit the reinsurance brokerage business, after its proposed merger with Aon PLC was...
Posted: Jul 12, 2022
Nearly a year after its long-planned acquisition of rival Willis Towers Watson PLC was scuttled due to regulatory concerns, Aon PLC has revamped its organizational structure and is continuing with its strategy of seeking to offer clients multiple fin...
Posted: Jul 12, 2022
Marsh & McLennan Cos. Inc. delivered double-digit organic revenue growth last year on the back of continued strong insurance pricing, while it also capitalized on disruption in the broking sector to ramp up hiring.
Posted: Jul 12, 2022
Business Insurance’s annual Broker Profiles highlight market trends and profiles the leading brokerages.
Posted: Jul 12, 2022