Business Insurance
Japan's infrastructure ministry said that heavy rains and floods have inundated around 6,100 homes and more than 2,600 acres of land, as well as destroyed 11 bridges.
Posted: Jul 07, 2020
Several Vietnamese insurers have lowered their profit targets, finding it hard to sell nonlife insurance products as the COVID-19 pandemic restricts travel, tourism and international trade.
Posted: Jul 07, 2020
U.K.-based mining firm Hochschild Mining PLC has suspended operations at its Inmaculada mine in Peru after some of its workers tested positive for COVID-19.
Posted: Jul 07, 2020
The German insurance industry association has developed a public-private partnership model to provide protection against future pandemics.
Posted: Jul 07, 2020
U.A.E.-based Orient Insurance PJSC has postponed its plans to expand in Saudi Arabia until mid-2022 because of the coronavirus pandemic.
Posted: Jul 07, 2020
The central Chinese city of Wuhan has upgraded its emergency flood response to level II, the second highest on its four-tier scale, after days of heavy rains submerged many of its roads.
Posted: Jul 07, 2020
Brazilian healthcare provider Hapvida Participacoes e Investimentos SA has suffered a cyber attack potentially involving access to the personal information of its customers.
Posted: Jul 07, 2020
Strike, riot and civil commotion exclusions, restricted availability of nonphysical business interruption coverages, and bulletproof communicable disease exclusions are some of the changes commercial property insurance buyers are seeing at the mid-ye...
Posted: Jul 07, 2020
An already hardening directors and officers liability insurance market is becoming even tougher for buyers during the COVID-19 pandemic, with rates increasing further, available limits contracting, retentions rising and in some cases insolvency exclu...
Posted: Jul 07, 2020
Buyers of excess liability and umbrella coverage faced the one-two punch of soaring rates and a capacity crunch at July 1 renewals, market sources say.
Posted: Jul 07, 2020
Chubb Ltd. said Monday it estimates $1.81 billion in net pretax global catastrophe losses for the second quarter, the vast majority of which are COVID-19 related, or $1.51 billion after tax.
Posted: Jul 06, 2020
The U.S. Supreme Court on Monday upheld and strengthened a law banning the broadly unpopular but ubiquitous telemarketing practice known as robocalls, striking down an exemption to the measure that had allowed automated calls for collection of certai...
Posted: Jul 06, 2020
Joe Jackson has joined TigerRisk Partners LLC’s North American team, the Stamford, Connecticut-based reinsurance brokerage said Monday.
Posted: Jul 06, 2020
The owner of two central Michigan restaurants can’t recover revenue lost during the coronavirus lockdown under a business interruption policy because the properties did not sustain a direct physical loss, a state court judge ruled last week.
Posted: Jul 06, 2020
Large investors in the Dakota Access Pipeline, including Phillips 66, could be on the hook for hundreds of millions in payments, after a U.S. court on Monday ordered the owners of the major artery to shut it down and empty it of oil.
Posted: Jul 06, 2020
The church pastoral activities of a workers compensation claimant are not volunteer work for the purposes of continued disability benefits, an appellate court ruled Thursday.
Posted: Jul 06, 2020
A pilot for Federal Express Corp. failed to show that the delivery company violated air carrier safety whistleblower protection laws.
Posted: Jul 06, 2020
A federal appeals court affirmed a lower court ruling and held the former partial owner of a now-bankrupt energy company must compensate RLI Insurance Co. in connection with the firm’s failure to meet its bond obligations.
Posted: Jul 06, 2020
The widow of an industrial plant mechanic failed to provide medical evidence in a manner that meets state filing requirements to prove that work-related exposure to asbestos caused his lung cancer and subsequent death, a New York appeals court ruled...
Posted: Jul 06, 2020
Mike Rice Sr., chairman and CEO of RSG Underwriting Managers LLC, a Ryan Specialty Group LLC division, plans to retire at the end of the year, the company said Monday.
Posted: Jul 06, 2020
With the slow pace of international climate negotiations, lawyers from Switzerland to San Francisco are increasingly filing lawsuits demanding action.
Posted: Jul 06, 2020
Aviva named independent director and former Zurich Insurance executive Amanda Blanc as its new chief executive on Monday.
Posted: Jul 06, 2020
The Australian Open tennis tournament could lose hundreds of millions of dollars as it will not be eligible for any insurance payout next year because the pandemic insurance policy will expire this year.
Posted: Jul 06, 2020
South Korean investment consulting firm JC & Partners Co. Ltd., which is buying a nearly 93% stake in KDB Life Insurance Co. Ltd., could transform the life insurer into a reinsurer to compete against Korean Reinsurance Co.
Posted: Jul 06, 2020
A report by U.S.-based Moody's Investors Service Inc. said that European property/casualty insurers' profitability will come under increasing pressure as interest rates are likely to stay low for longer than expected amid global slowdown.
Posted: Jul 06, 2020