Business Insurance
German insurer Ergo Group AG has signed an agreement to acquire a nearly 25% stake in China-based Taishan Property & Casualty Insurance Co. Ltd. through its subsidiary Ergo Versicherung AG.
Posted: Jun 17, 2020
A survey by Dutch credit insurer Atradius NV found that companies in the United Arab Emirates are facing default risk as customers increasingly delay payments due to the COVID-19 pandemic.
Posted: Jun 17, 2020
U.K.-based Jaguar Land Rover Ltd. recorded a loss of £501 million ($632 million) in the fourth quarter ended March 31 as the COVID-19 pandemic led to a nearly 31% year-on-year decline in retail sales.
Posted: Jun 17, 2020
U.K.-based direct selling company Avon Products Inc. suffered a cyber attack on June 10 and had to shut down its website.
Posted: Jun 17, 2020
A report by Oxford Economics Ltd. said that the COVID-19 pandemic will cost the U.K.'s creative industries £74 billion ($93 billion) in revenue loss this year.
Posted: Jun 17, 2020
Surging alcohol and marijuana sales and a lack of access to traditional support networks during the pandemic could lead to a number of individuals returning to the workplace with substance abuse issues, experts say.
Posted: Jun 17, 2020
A putative class-action directors and officers liability lawsuit filed in federal district court charges that a biopharmaceutical company falsely claimed a 100% accurate COVID-19 test while company officials made millions dumping their stock.
Posted: Jun 16, 2020
A coronavirus business interruption suit filed against Berkshire Hathaway Inc. alleges that virus exclusions that have been used by insurers since 2006 should be ruled invalid because the policy wordings organizations that devised them made misrepres...
Posted: Jun 16, 2020
Beazley PLC and Vizient Insurance Services LLC, a subsidiary of Vizient Inc., are offering active shooter coverage to Vizient members, Beazley said in a statement Monday.
Posted: Jun 16, 2020
AmTrust Exec, a division of New York-based AmTrust Financial Services Inc., said Tuesday it has introduced a commercial crime product for medium- and large-sized businesses.
Posted: Jun 16, 2020
A former Morgan Stanley diversity officer sued the bank on Tuesday, alleging racial discrimination, retaliation against her and violation of equal pay laws, according to a court filing.
Posted: Jun 16, 2020
Commercial insurance markets have continued to harden in the second quarter as many lines have seen double-digit rate increases, according to a market update released Tuesday by USI Insurance Services Inc.
Posted: Jun 16, 2020
Seventy-seven percent of CEOs and CFOs at the world’s largest companies say their firms are not fully prepared for the adverse financial impact of a changing climate, FM Global reported Tuesday.
Posted: Jun 16, 2020
A federal appeals court has overturned a lower court’s decision and ruled in favor of an American International Group Inc. unit in a dispute with the Port of San Diego, stating the losses for which the port sought indemnification were not covered und...
Posted: Jun 16, 2020
Six former eBay Inc. employees have been criminally charged with cyberstalking a Massachusetts couple who published an online newsletter viewed as critical of the e-commerce company, federal prosecutors in Boston said on Monday.
Posted: Jun 16, 2020
Radio-frequency chipmaker MaxLinear Inc. said on Tuesday it was hit by a cyberattack, with a hacker releasing some proprietary information about the company online.
Posted: Jun 16, 2020
Several high-profile NBA players are looking to score league-financed insurance policies before their season is rebooted, according to Sports Illustrated.
Posted: Jun 16, 2020
As of 2020 most states have regulations on prescribing and managing opioids, but fewer than half have in place such protective measures as drug formularies and mandated drug rehabilitation, according to a report released Tuesday by the Workers’ Compe...
Posted: Jun 16, 2020
The dependents of essential workers in New Jersey who die from COVID-19 in the course of employment may receive enhanced benefits if a bill that passed the state’s Senate becomes law.
Posted: Jun 16, 2020
U.K.'s Prudential Regulatory Authority plans to assess its policy related to insurance-linked securities and insurance special purpose vehicles for changes as the Brexit transition proceeds.
Posted: Jun 16, 2020
Mexico's oil revenue insurance policy is expected to payout $6 billion this year.
Posted: Jun 16, 2020
South African insurer Discovery Ltd. expects profit for the year ending June 30 to fall by up to 90%, as it has made a 3.3 billion South African rand ($192 million) provision for claims and policy lapses due to the coronavirus pandemic.
Posted: Jun 16, 2020
U.A.E.-based Orient Insurance PJSC's premiums increased 15% year-over-year to 1.5 billion United Arab Emirates dirham ($408 million) in the first quarter.
Posted: Jun 16, 2020
Kenya Reinsurance Corp. Ltd. expects to report income of around 19 billion Kenyan shillings ($176 million) this year
Posted: Jun 16, 2020
Medical and recreational cannabis dispensaries were among the casualties of looting that took place amid civil unrest across the U.S. earlier this month, highlighting some of the unique risk management concerns for the sector.
Posted: Jun 16, 2020