Business Insurance
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
A chlorine gas leak at Iran-based Karoon Petrochemical Co.'s plant in Mahshahr city sickened 70 workers on July 4.
Posted: Jul 06, 2020
Japan-based Tokio Marine & Nichido Fire Insurance Co. Ltd. has launched a complementary remote loss prevention service for its corporate clients.
Posted: Jul 06, 2020
Heavy rains and floods have destroyed 17,000 homes and caused nearly $6 billion worth of damage in China so far this year.
Posted: Jul 06, 2020
Egypt's insurance market expects to see a wave of mergers and acquisitions among brokers following the Financial Regulatory Authority's decision in June to stop issuing new licenses for a year.
Posted: Jul 06, 2020
Data released by the Central Insurance of Iran showed that aviation insurance premiums declined 22% year-over-year in March and April due to the COVID-19 pandemic.
Posted: Jul 06, 2020
Cat in a Box, Single Trigger, Intensity. What do all these terms have to do with Parametric Insurance?Swiss Re Corporate Solutions breaks it all down.
Posted: Jul 06, 2020
Aon topped the news this week with its decision to end a 20% coronavirus-related salary cut imposed on most of its staff. Also of note: Insurtech startup Lemonade’s rousing IPO, which saw its shares surge 73% in their first day of trading.
Posted: Jul 03, 2020
Dutch construction firm Royal BAM Group, German civil engineering company Bilfinger SE and construction firm Ed. Zublin AG will pay €200 million ($225 million) each to German city Cologne to settle liabilities arising from the collapse of the city's...
Posted: Jul 03, 2020