Business Insurance
California on Wednesday announced the first regulation requiring insurance companies to reduce premiums paid by employers for U.S. workers compensation insurance, citing lower risk factors as millions of employees work from home.
Posted: Jun 18, 2020
China-based Jiufu Shuke Technology Group Co. Ltd. has filed a 2.3 billion Chinese yuan ($325 million) lawsuit against insurer PICC Property and Casualty Co. Ltd. for non-payment of outstanding service fees.
Posted: Jun 18, 2020
The Bank of England said that insurers in the United Kingdom should use results from emergency stress tests conducted in April to check if they can pay COVID-19 pandemic-related business interruption claims
Posted: Jun 18, 2020
A survey by U.K.-based FWD Research found that nearly two thirds of insurance brokers believe that the insurance industry did not ensure consumers and businesses have adequate cover against the COVID-19 pandemic.
Posted: Jun 18, 2020
Turkey-based reinsurer Milli Reasurans TAS expects demand for liability insurance to rise.
Posted: Jun 18, 2020
The Swiss government expects the COVID-19 pandemic to cost the country more than $100 billion in lost output.
Posted: Jun 18, 2020
Heavy rains and floods in parts of southern Ivory Coast have damaged buildings, blocked roads, disrupted transport and caused landslides.
Posted: Jun 18, 2020
A Hartford Financial Services Group Inc. unit was not obligated to defend or indemnify a fabric retailer in copyright infringement litigation, a federal appeals court ruled Wednesday in affirming a lower court ruling.
Posted: Jun 17, 2020
Clear screens on underwriting boxes, temperature-check thermal cameras and a click and collect take-away catering service are among changes Lloyd's of London insurance workers will see when they return to the office in September.
Posted: Jun 17, 2020
A federal appeals court has reversed a lower court and reinstated litigation filed by the mother of a 3-year-old girl who suffered head injuries after she either fell over or through a cruise ship’s guardrail.
Posted: Jun 17, 2020
The MEMIC Group will distribute a $17 million dividend to its policyholders, the Portland, Maine-based insurer announced in a statement Wednesday.
Posted: Jun 17, 2020
A travel insurance firm hoping to get a pass on paying for canceled ski trips over the COVID-19 pandemic is getting hit with a class action that argues that “quarantine” in the policy language calls for coverage.
Posted: Jun 17, 2020
Workers compensation direct written premium in the state of California declined to a five-year low in 2019, according to a bulletin released Monday by the California Workers Compensation Institute.
Posted: Jun 17, 2020
The California Assembly on Monday passed legislation to protect warehouse workers.
Posted: Jun 17, 2020
Arkansas workers who believe they contracted COVID-19 on the job may be entitled to workers compensation under an executive order signed Monday by Gov. Asa Hutchinson.
Posted: Jun 17, 2020
Ohio corrections workers exposed to another person’s bodily fluids will be covered by workers compensation for medical diagnosis services under a bill signed into law Tuesday by Gov. Mike DeWine.
Posted: Jun 17, 2020
Mike Morrissey is retiring as president and CEO of the International Insurance Society, the association announced Wednesday.
Posted: Jun 17, 2020
The Hartford Financial Services Group Inc. on Wednesday named former Validus underwriter William H. Steinberg head of wholesale property for its Navigators Insurance Co. unit.
Posted: Jun 17, 2020
The coronavirus does not cause damage to tangible property, therefore, income lost due to COVID-19 lockdowns is not covered by commercial insurance policies, an insurer facing multiple claims from restaurants and other businesses argued Monday.
Posted: Jun 17, 2020
Workers compensation claims in the contracting industry have relatively higher opioid usage and almost double the costs when compared with the other industry groups, which researchers say is caused in part by the occurrence of more severe claims.
Posted: Jun 17, 2020
Louisiana Gov. John Bel Edwards signed into law on Saturday a bill that limits liability for businesses that could face lawsuits related to COVID-19 exposure.
Posted: Jun 17, 2020
The U.S. Justice Department will propose legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet's Google LLC and Facebook Inc. have had for decades, a department official said on Wednesday, speaking on con...
Posted: Jun 17, 2020
Liberty Mutual Insurance Group's Liberty Mutual Surety has started offering its business service bonds coverage through insurtech CyberPolicy, the insurer said in a statement Tuesday.
Posted: Jun 17, 2020
Xiang Junbo, former chairman of the China Insurance Regulatory Commission, has been sentenced to 11 years in prison for accepting bribes when in office.
Posted: Jun 17, 2020
New Zealand's maritime safety authority has increased the amount of oil spill insurance that owners of offshore installations are required to have by $28 million New Zealand ($18 million) to NZD 1.2 billion.
Posted: Jun 17, 2020