Business Insurance
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
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