Business Insurance
Rate increases for general liability and umbrella coverage moderated in the first half of 2022 to low double-digit price hikes as more capacity entered the sector, industry experts say.
Posted: Jul 12, 2022
Commercial property insurance rates increased again at midyear renewals, albeit at a more moderate pace, and the overall cost of programs is rising as inflation pushes up values and premium costs.
Posted: Jul 12, 2022
Policyholders saw rate decreases of up to 35% in the July renewals for directors and officers liability risks, fueled by significant capacity in excess layers and increased competition, experts say.
Posted: Jul 12, 2022
30 years after Hurricane Andrew devastated parts of Florida, the insurance sector continues to feel the effects of the catastrophe
Posted: Jul 12, 2022
A Louisiana appeals court’s refusal to dismiss policyholder litigation in a COVID-19-related business interruption case is significant and expected to be influential, policyholder attorneys say.
Posted: Jul 12, 2022
Juan C. Andrade joined Everest Re Group Ltd. as chief operating officer in September 2019 and became CEO of the Bermuda-based insurer and reinsurer on Jan. 1, 2020.
Posted: Jul 12, 2022
Mergers and acquisitions activity among insurance agents and brokers remains as strong as ever, despite increased general economic concerns.
Posted: Jul 12, 2022
The war exclusion has received a lot of attention over the past year, particularly since Russia invaded Ukraine in February. Policyholders’ concern that insurers will assert the exclusion as a basis to deny coverage is increasing in light of recent c...
Posted: Jul 12, 2022
The U.S. Supreme Court decision to overturn Roe v. Wade leaves businesses and their leadership facing tough choices.
Posted: Jul 12, 2022
There’s nothing like experience to change perspectives.
Posted: Jul 12, 2022
Many insurance agents and brokers reported rapid growth in 2021 as rates continued to rise, economic activity recovered from the lockdowns of the prior year, and mergers and acquisitions activity hit record levels.
Posted: Jul 12, 2022
A Great American Insurance Group unit has prevailed in insurance coverage litigation over the sale of a facility that was allegedly overrun by a Mexican drug cartel.
Posted: Jul 11, 2022
The Nebraska Supreme Court on Friday largely overturned a lower court and held an insurer must pay extra expenses associated with a business that moved to a renovated facility after a fire.
Posted: Jul 11, 2022
The number of injured workers using opioids has continued to decline, from 33.3% of all injured workers in 2020 to 30.3% in 2021, according to a report released Monday by Enlyte Group LLC subsidiary Mitchell International Inc.
Posted: Jul 11, 2022
A Florida franchisee of Applebee's Restaurants LLC has agreed to pay $100,000 to settle a sexual orientation and race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the agency said Monday.
Posted: Jul 11, 2022
Chubb Ltd. said Monday that Natalie Chiaramonte has been promoted to division president of Sovereign Risk Insurance Ltd., a Chubb company that underwrites political risk insurance and reinsurance.
Posted: Jul 11, 2022
New York-based insurtech Kalepa Corp. said Monday it is introducing a managing general agency, Kalepa Insurance Services, with capacity provided by units of Ambac Financial Group Inc.
Posted: Jul 11, 2022
Rocket engine maker Aerojet Rocketdyne has agreed to pay $9 million to resolve allegations it misrepresented its compliance with cybersecurity requirements in federal contracts, the U.S. Justice Department said Friday.
Posted: Jul 11, 2022
There will be no Billy Joel concerts, Radio City Rockettes or Knicks games for attorneys involved in litigation against the owner of several prominent entertainment and sports venues in New York.
Posted: Jul 11, 2022
A German regional court’s ruling in the favor of Finnish mobile company Nokia Corp. in its 4G/5G patent dispute against Chinese company Guangdong Oppo Mobile Telecommunications Corp. Ltd. has resulted in a ban on Oppo and OnePlus devices in Germany.
Posted: Jul 11, 2022
Severe wildfires in Portugal injured 29 people and forced the country’s government to declare a heightened state of alert until July 15, as more than 3,000 firefighters continue to tackle the active blazes.
Posted: Jul 11, 2022
Nigeria’s National Insurance Commission has warned that it would revoke the licenses of errant insurers to maintain discipline in the insurance industry and protect policyholders.
Posted: Jul 11, 2022
A report by investment bank RBC Capital Markets LLC said that European reinsurers are best placed to underwrite natural catastrophe risks due to their strong capitalization, and as higher interest rates strengthen their solvency positions.
Posted: Jul 11, 2022