Business Insurance
Insurance industry experts have said that parametric insurance is increasingly gaining popularity among risk managers in Asia as it provides protection against natural catastrophes.
Posted: Jul 15, 2020
The Italian farmers' association said that the COVID-19 pandemic has cost the olive oil industry €2 billion ($2.3 billion).
Posted: Jul 15, 2020
An insurer providing cover to New Plymouth District Council in New Zealand is considering not insuring the council for the rest of the year after paying out a claim of $1.36 million New Zealand ($887,937).
Posted: Jul 15, 2020
A report by Egypt's Financial Regulatory Authority said that insurers' premiums increased 15.6% year-over-year to nearly 9.5 billion Egyptian pounds ($594 million) in the first quarter of the year.
Posted: Jul 15, 2020
With President Donald Trump calling for campuses to welcome students in the fall and numerous large school districts around the country announcing that online-only schooling will continue, risk management teams are grappling with how to safely procee...
Posted: Jul 15, 2020
A federal appeals court has affirmed a lower court ruling that holds an insurer is not obliged to take depreciation into account when calculating a payment for damaged roofs.
Posted: Jul 14, 2020
Berkshire Hathaway Inc. asked a federal court on Monday to dismiss a lawsuit filed by a policyholder of one of its insurance units that sought business interruption coverage for losses related to the coronavirus.
Posted: Jul 14, 2020
Posted: Jul 14, 2020
A federal judge on Tuesday rejected a proposed class-action settlement in litigation filed by Harvey Weinstein’s victims.
Posted: Jul 14, 2020
Cyber insurer and security company Coalition Inc. said Monday it has named Marcin Weryk head of business development, a new position.
Posted: Jul 14, 2020
The mental health history of a woman who broke her ankle after slipping on ice in workplace parking lot in 2015 and continued to have ankle pain for years may be relevant to her workers compensation pain and disability, the Supreme Court of Alaska ru...
Posted: Jul 14, 2020
First-quarter global reinsurance capital decreased about 6% from the year-earlier period to $590 billion, and there was a “modest but progressive” tightening of capacity at midyear renewals, according to a report Tuesday from Aon PLC.
Posted: Jul 14, 2020
There’s nothing gnarly about damaging one’s prized surfboard, as surfers well know the sinking feeling of a massive ding in the fragile fiberglass of an already expensive board that’s been with you through those choppy waters.
Posted: Jul 14, 2020
Insured losses from Tropical Storm Fay will be close to $400 million, Boston-based catastrophe modeler Karen Clark & Co. said in a statement Tuesday.
Posted: Jul 14, 2020
About two-thirds of payments made to injured workers in New Jersey were incorrect, according to an audit report issued Thursday by the state’s Office of the State Comptroller.
Posted: Jul 14, 2020
Andrew Tunnicliffe, a former longtime Aon PLC executive, will return to the brokerage in the newly created role of U.K. chairman, global and specialty, Aon announced Tuesday.
Posted: Jul 14, 2020
Travelers Cos. Inc. expects to report pretax catastrophe losses of $854 million and coronavirus-related losses of $114 million when it publishes its second-quarter results next week.
Posted: Jul 14, 2020
A report by Swiss Re Institute expects insurance markets of oil exporting nations in the Middle East & Africa region to be hit the hardest by the COVID-19 pandemic.
Posted: Jul 14, 2020
South Africa-based insurer Santam Ltd. has requested an urgent meeting with the U.K.'s Financial Sector Conduct Authority after the regulator recognized the COVID-19 pandemic to be the primary cause of business interruption claims.
Posted: Jul 14, 2020
South Africa-based insurer Santam Ltd. has requested an urgent meeting with the U.K.'s Financial Sector Conduct Authority after the regulator recognized the COVID-19 pandemic to be the primary cause of business interruption claims.
Posted: Jul 14, 2020
U.S.-based cybersecurity firm Cyble Inc. said that India-based Religare Health Insurance Co. Ltd.'s five million records were hacked and are available for sale online.
Posted: Jul 14, 2020
South Korea's Financial Supervisory Service is probing insurers for increasing insurance premiums, after Meritz Fire & Marine Insurance Co. Ltd. raised its damage inspection fee, a key element in calculating premiums.
Posted: Jul 14, 2020
The People's Insurance Company (Group) of China Ltd.'s premiums grew more than 4% year-over-year to surpass 335 billion Chinese yuan ($48 billion) in the first half of the year.
Posted: Jul 14, 2020
An explosion at a gas condensate plant in the Kavian Fariman industrial zone in Iran on July 13 caused extensive damage to the company and to a neighboring firm.
Posted: Jul 14, 2020
A powerful storm made landfall in the South African province of Western Cape on July 13 and brought rains, snow and gale-force winds that uprooted trees and tore off roofs.
Posted: Jul 14, 2020