Business Insurance
Commercial lines of business posted increased average premium renewal rates across nearly all major lines of business except for workers compensation in the second quarter, according to a report issued Thursday by insurance exchange Ivans Insurance S...
Posted: Jul 09, 2020
Severe weather during June in the U.S. Midwest, Plains and Southeast caused more than $2 billion in total damage, while powerful thunderstorms with large hail accounted for one of Canada’s worst-ever weather losses at more than $1 billion, brokerage...
Posted: Jul 09, 2020
More than 170 nonprofit groups on Wednesday called for Johnson & Johnson to stop selling its talc-based Johnson’s Baby Powder worldwide, citing concerns that it contains cancer-causing asbestos, according to a statement from advocacy group Black Wome...
Posted: Jul 09, 2020
Chubb Ltd. said on Wednesday it is lobbying the U.S. government to insure businesses for losses in future pandemics, while giving the insurance industry a small portion of the business, jumping into a debate over how to insure such disasters.
Posted: Jul 09, 2020
EU consumers should be able to sue Volkswagen in their national courts if they have bought cars with emission cheat devices installed, the Court of Justice of the European Union ruled on Thursday.
Posted: Jul 09, 2020
Several prominent plaintiffs' law firms, known for striking large settlements with companies like German carmaker Volkswagen AG and Equifax Inc., were approved for loans that totaled tens of millions of dollars in government aid meant to help small b...
Posted: Jul 09, 2020
The insurance industry is likely to recover from the impact of COVID-19 as total premiums written return to pre-pandemic levels in 2021, according to a report from Swiss Re Ltd. on Thursday.
Posted: Jul 09, 2020
The coronavirus pandemic has made it even harder for senior-care centers in the United States to find or afford standard liability insurance, with rates soaring by as much as 300%, insurance brokers said.
Posted: Jul 09, 2020
CBIZ Inc. has acquired Woodbridge, Virginia-based Prince-Wood Insurance LLC, the financial services firm said Wednesday.
Posted: Jul 09, 2020
Heavy rains in southwestern Japan have forced plant closures across a broad range of industries due to floods and power outage.
Posted: Jul 09, 2020
The Indian government has called off the long-planned merger of three state-owned general insurers – United India Insurance Co. Ltd., The Oriental Insurance Co. Ltd. and National Insurance Co. Ltd.
Posted: Jul 09, 2020
Bronek Masojada, chief executive of insurer Hiscox Ltd., said that insurers in the U.K. are seeking to ensure that regulators will not force the industry to cover losses due to a second wave of the coronavirus pandemic.
Posted: Jul 09, 2020
South Africa-based insurer Santam Ltd. is seeking legal clarity on an application brought against it by an unnamed insured hotel group over COVID-19 pandemic-related business interruption claims.
Posted: Jul 09, 2020
Irish energy firm ESB International Ltd. could face a huge bill after the Supreme Court ruled that its negligence caused extensive flood damage to 29 buildings on the campus of University College Cork last year.
Posted: Jul 09, 2020
Two powerful explosions rocked a fireworks factory in China's Sichuan province on July 8 and injured at least six people.
Posted: Jul 09, 2020
The U.S. Supreme Court ruled Wednesday that “a ministerial exception” protects a pair of parochial schools from facing age and disability discrimination charges related to the firing of two teachers.
Posted: Jul 08, 2020
Amazon.com Inc.’s injury data is not confidential information, a judge for the U.S. District Court for the Northern District of California held Monday.
Posted: Jul 08, 2020
Workers compensation claims related to COVID-19 filed by California health care workers after the state’s presumption order took effect increased by nearly a third, but most claims closed quickly, according to third-party administrator Athens Insuran...
Posted: Jul 08, 2020
The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses caused by the coronavirus cri...
Posted: Jul 08, 2020
New York-based broker Lamb Insurance Services, which specializes in nonprofit and social service organizations, said Tuesday it has acquired Charlotte, North Carolina-based Prestige Insurance Services.
Posted: Jul 08, 2020
Take your zoom call overlooking the Pend Oreille River in Laclede, Idaho. Stay focused outside amid the sea-salt air of Hilton Head, South Carolina. Stretch your legs during your lunch break and get some air on a spacious deck overlooking the Rocky M...
Posted: Jul 08, 2020
The cost of COVID-19 on the workers compensation system in New York may be less severe than had been predicted, according to a research brief published by the New York Compensation Insurance Rating Board.
Posted: Jul 08, 2020
Crawford & Co. said Wednesday it named McLarens executive Paul Kottler president of Global Technical Services U.S., a Crawford division, the claims management company said in a statement.
Posted: Jul 08, 2020
Workers compensation pharmacy spending decreased 6.1% in 2019, a decline attributed to a number of factors including fewer opioids, more generic drugs, and lower costs via home delivery, according to new data released Wednesday by Matrix Healthcare S...
Posted: Jul 08, 2020
Bayer has agreed to delay part of a proposed settlement of allegations that its widely used weedkiller Roundup caused cancer after a U.S. judge questioned its plan to deal with future claims.
Posted: Jul 08, 2020