Business Insurance
Willis Re, the reinsurance business of broker Willis Towers Watson PLC, has named James Moss co-head of Willis Re Specialty’s casualty practice, the broker said in a statement Wednesday.
Posted: Jul 08, 2020
Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums — tempting companies and industry veterans to raise capital, launch new businesses or expand into new lines.
Posted: Jul 08, 2020
Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums — tempting companies and industry veterans to raise capital, launch new businesses or expand into new lines.
Posted: Jul 08, 2020
Russia's environmental watchdog has fined mining firm MMC Norilsk Nickel PJSC's subsidiary nearly 148 billion Russian rubles ($2.1 billion) over an Arctic fuel spill in Siberia.
Posted: Jul 08, 2020
U.K.-based Rock Insurance Group Ltd. has launched two COVID-19 insurance policies to protect travel businesses and agents if customers cancel or postpone their trips due to issues related to the pandemic.
Posted: Jul 08, 2020
Israel has sued Germany-based Volkswagen AG, Audi AG, and local distributor Champion Motors Ltd. for $152 million over the diesel emissions scandal.
Posted: Jul 08, 2020
The high court in the South African city of Cape Town has ordered Guardrisk Insurance Co. Ltd. to pay Cafe Chameleon restaurant and bar's business interruption claims related to the COVID-19 pandemic.
Posted: Jul 08, 2020
Norway-based ship owning company Ocean Yield ASA said that it expects to receive insurance payout of around $26 million following a fire on its vehicle carrier Hoegh Xiamen.
Posted: Jul 08, 2020
Swiss catastrophe loss data provider Perils AG expects insurance and reinsurance claims related to Australian bushfires to total $1.86 billion Australia ($1.3 billion).
Posted: Jul 08, 2020
The Central Bank of Ireland is considering taking legal action to resolve standoffs between insurers and businesses over whether the former should settle claims related to the COVID-19 pandemic.
Posted: Jul 08, 2020
June’s most popular Off Beat story featured a Disney kingdom appraisal. A story on a lawyer crying wolf over libel attracted among the most page views for the month.
Posted: Jul 08, 2020
Declining premium rates, falling payrolls, rock-bottom interest rates and uncertainty surrounding workplace coronavirus-related claims complicated mid-year workers compensation renewals, experts say.
Posted: Jul 08, 2020
The National Institute of Standards and Technology said Tuesday it plans to develop a more secure approach to encryption that could overcome some limitations of current conventional methods for protecting sensitive transactions and data.
Posted: Jul 07, 2020
The U.S. Equal Employment Opportunity Commission said Tuesday it has introduced a six-month pilot program intended to expand opportunities for parties to voluntarily resolve charges through mediation.
Posted: Jul 07, 2020
The U.S. composite commercial property/casualty rates increased to 4.8% in the second quarter from 4.5% in the first quarter, but there were significant differences among sectors, according to a MarketScout report issued Tuesday.
Posted: Jul 07, 2020
The 2020 Insurance Leadership Forum, which was slated to be held Oct. 2-6 at The Broadmoor resort in Colorado Springs, Colorado, will move to a virtual format due to concerns over the coronavirus pandemic, the Washington-based Council of Insurance Ag...
Posted: Jul 07, 2020
Walmart customers can now pick up slow cookers, canned goods, toilet paper, camping gear — and health insurance?
Posted: Jul 07, 2020
NFP Corp. named Tom Gillingham to lead specialty managing general agent and managing general underwriter programs, the broker said in a statement Tuesday.
Posted: Jul 07, 2020
Forty-three percent of COVID-19-related workplace lawsuits have been initiated between employees and employers were filed in the past month, according to data collected by the Fisher Phillips LLC law firm.
Posted: Jul 07, 2020
The employer and workers compensation insurer of an injured worker may proceed with their negligence lawsuit against contractors who allegedly provided the worker with a faulty lifeline.
Posted: Jul 07, 2020
During “targeted observations” over the Fourth of July holiday weekend, no water parks and only 40% of casino hotel pools were in compliance with COVID-19 workplace safety measures that include social distancing and face masks, the Nevada Division of...
Posted: Jul 07, 2020
Bayer AG shares fell more 6% on Tuesday after a U.S. judge questioned part of the German company’s proposed settlement to deal with future claims relating to allegations that its widely used weedkiller Roundup caused cancer.
Posted: Jul 07, 2020
Risk Placement Services Inc. named Mark Gallagher as the leader of its national transportation practice, replacing Jimmy Proffitt, who has retired.
Posted: Jul 07, 2020
Deutsche Bank AG admitted it made a “critical mistake” taking on the registered sex offender Jeffrey Epstein as a client and agreed to pay a $150 million fine to settle New York charges over its dealings with the late financier and two other banks.
Posted: Jul 07, 2020
A report by Willis Re Inc. said that at the July 1 renewals, Australian reinsurers were firm on terms and conditions despite abundant reinsurance capacity.
Posted: Jul 07, 2020