Business Insurance
The work to design a catastrophe bond for the Caribbean region is underway with the support of the World Bank, with four countries currently engaged, including Jamaica and as many as four others thought likely to join.
Posted: Jul 19, 2022
After a hacker claimed that they had gotten the data of nearly 1 billion citizens from an Alibaba server, Chinese authorities have summoned executives and senior technicians from the company.
Posted: Jul 19, 2022
Manufacturers in the Indian state of Gujarat say they’ve lost more than 50 billion Indian rupees ($625 million) from torrential rain and flooding.
Posted: Jul 19, 2022
Business Insurance on Tuesday announced the winners of the 2022 Innovation Awards.
Posted: Jul 19, 2022
Google LLC faces a London trial over an estimated 920-million-pound ($1.1 billion) damages claim after a court authorized a lawsuit that alleges the Alphabet Inc.-owned tech giant overcharged 19.5 million customers for app store purchases.
Posted: Jul 19, 2022
Hamilton Insurance Group Ltd. on Tuesday named former Zurich North America executive Ashly Turner to lead U.S. energy insurance and Steve Blackwell, from Berkley Life Sciences, to lead U.S. life sciences insurance at Hamilton Select Insurance Inc., f...
Posted: Jul 19, 2022
Axa XL, a unit of Axa SA, said Tuesday it has promoted Rachel Rossini to product manager for cyber and technology E&O, and Vern Suckerman to U.S. head of complex accounts.
Posted: Jul 19, 2022
More states are passing or introducing legislation that will make it harder to enforce noncompete agreements on departing employees.
Posted: Jul 19, 2022
Apple Inc. was sued on Monday in a proposed class action by payment card issuers accusing the iPhone maker of abusing its market power in mobile devices to thwart competition for its Apple Pay mobile wallet.
Posted: Jul 18, 2022
Uber Technologies Inc. will pay more than $2 million and waive wait time fees for disabled passengers to settle U.S. allegations that the rideshare company had violated the Americans with Disabilities Act, the Department of Justice said on Monday.
Posted: Jul 18, 2022
A federal appeals court on Friday ruled in favor of an insurer in litigation stemming from a railroad crossing accident that killed a trucker.
Posted: Jul 18, 2022
Liberty Mutual Insurance Co. on Monday named former Transatlantic Holdings Inc. executive Elizabeth Geary as president, insurance solutions, in its global risk solutions division.
Posted: Jul 18, 2022
Climate-focused insurtech company FutureProof on Monday said former Lexington Specialty Insurance Agency executive Joseph Strickland has joined the company as head of underwriting.
Posted: Jul 18, 2022
A federal appeals court on Friday reinstated false imprisonment and negligence charges made against Old Navy LLC by a woman who was falsely accused of shoplifting.
Posted: Jul 18, 2022
The U.S. Securities and Exchange Commission said Friday it has awarded more than $6 million to two whistleblowers who provided critical information and assistance in two separate actions.
Posted: Jul 18, 2022
Germany-based technology-driven property and casualty insurer Element Insurance AG has appointed Astrid Stange as co-chief executive.
Posted: Jul 18, 2022
Delayed crude oil deliveries has forced South Africa’s largest fuel producer Sasol Ltd. to temporarily shut down its Natref refinery and declare a force majeure on the supply of petroleum products.
Posted: Jul 18, 2022
Torrential rains since July 15 caused heavy floods and mudslides in China’s Sichuan and Gansu provinces, damaging infrastructure, houses and crops, and causing widespread power and communication disruptions.
Posted: Jul 18, 2022
Investment banking firm Jefferies International Ltd. said that German reinsurer Munich Reinsurance Co. could have a significant exposure to aviation losses resulting from Russia’s seizure of jets after its invasion of Ukraine.
Posted: Jul 18, 2022
Bank of America has set aside around $200 million for a regulatory matter connected to the unauthorized use of personal phones, its chief financial officer, Alastair Borthwick, said Monday, adding that he expects the matter to be settled soon.
Posted: Jul 18, 2022
Alera Group Inc. said Monday it has acquired Noyle Johnson Group, a Montpelier, Vermont-based agency.
Posted: Jul 18, 2022
Mergers and acquisitions involving insurance agents and brokers rose to 427 in the first half of 2022, a 16% increase over the same period last year and 13% above the first-half five-year average, as brokers looked beyond traditional M&A targets, acc...
Posted: Jul 18, 2022
Falcon Risk Holdings LLC, a U.S. financial, professional and cyber lines managing general agent, said Monday it would write excess management liability coverage on an admitted form.
Posted: Jul 18, 2022
The Florida Division of Workers’ Compensation this month published a notice in the Florida Administrative Register announcing plans to review physician dispensing rules.
Posted: Jul 18, 2022
A federal appeals court on Thursday affirmed a lower court ruling and held that an Everest Re Group Ltd. unit does not have to defend or indemnify a financial adviser who sold a financial instrument issued by a company later sued by the U.S. Securiti...
Posted: Jul 15, 2022