Business Insurance
A survey by Bermuda-based insurer Hiscox Ltd. of eight countries found that a U.K.-based financial services firm suffered the largest amount of loss of £71 million ($88 million) following a cyber attack last year.
Posted: Jun 26, 2020
A report by the Central Bank of Russia said that local insurers' aggregate pre-tax profit increased more than 19% to nearly 72 billion Russian ruble ($1 billion) in the first quarter of this year.
Posted: Jun 26, 2020
South Africa-based insurer OUTsurance Holdings Ltd. has set aside 220 million South African rand ($13 million) for business interruption claims related to the COVID-19 pandemic.
Posted: Jun 26, 2020
The Indian Cellular and Electronics Association said that the government's adverse action against electronics imported from China has negatively impacted the supply chain.
Posted: Jun 26, 2020
The Insurance Information Institute, one of the few remaining independent trade associations representing the property/casualty industry is to be folded into The Institutes in a deal to be finalized in July.
Posted: Jun 25, 2020
Business Insurance is accepting nominations for the 2020 Women to Watch Awards.
Posted: Jun 25, 2020
An insurer must defend a pharmaceutical wholesaler distributor being sued by governmental entities in connection with its distribution of opioids, even though the entities themselves did not suffer bodily injuries, says an Ohio appeals court, in over...
Posted: Jun 25, 2020
The U.S. Securities and Exchange Commission initiated 57 enforcement actions involving accounting and auditing allegations in 2019, an 11% decline from the 64 actions initiated in 2018, according to a research report issued Thursday.
Posted: Jun 25, 2020
Fifty-three percent of office workers surveyed in late April say they are comfortable with going back to work and of them, 73% say they would be OK with workplace temperature checks, according to results released Thursday by New York-based human reso...
Posted: Jun 25, 2020
A Santa Ana, California, police officer who injured his wrist during a pursuit in 2017 allegedly went full throttle on workers compensation fraud after investigators found that he had ridden his motorcycle, among other activities.
Posted: Jun 25, 2020
Several McDonald’s franchises were ordered to train workers about social distancing and enforce mask policies in a court ruling Wednesday.
Posted: Jun 25, 2020
The insurance industry has made strides toward creating a more diverse and inclusive working environment, but it still has a long way to go, said a group of panelists Wednesday at Business Insurance’s webinar, “A New Era for Diversity & Inclusion: Wh...
Posted: Jun 25, 2020
The attorney general for the District of Columbia on Thursday filed a lawsuit against Exxon Mobil Corp., BP PLC, Chevron Corp. and Royal Dutch Shell PLC for “systematically and intentionally misleading” consumers about the role their products play in...
Posted: Jun 25, 2020
Seeking to forestall further claims, Bayer AG is taking a risky bet that an independent scientific review will ultimately show that its widely used weed killer Roundup does not cause cancer, legal experts said.
Posted: Jun 25, 2020
California plans to ask a state court judge to force Uber Technologies Inc. and Lyft Inc. to classify their ride-hail drivers as employees rather than contractors, ratcheting up the tension over a new gig worker law.
Posted: Jun 25, 2020
Insurance startup Lemonade Inc., which is backed by SoftBank Group Corp., said on Thursday it was looking to raise up to $286 million in its U.S. initial public offering, as the IPO market gains momentum after COVID-19 put many debuts on hold.
Posted: Jun 25, 2020
(Reuters) — Italy's top insurer Assicurazioni Generali SpA has agreed to buy 24.4% of smaller rival Società Cattolica di Assicurazione SC, the two companies said on Thursday, in a surprise move that will boost Cattolica's capital position.
Posted: Jun 25, 2020
The China Banking and Insurance Regulatory Commission has extended preferential treatment for the Hong Kong insurance industry until June 30, 2021.
Posted: Jun 25, 2020
Irish insurer FBD Holdings PLC has set aside €22 million ($25 million) to cover potential costs in case it loses a test case against pub owners over whether their policies with the insurer cover business interruption due to the COVID-19 pandemic.
Posted: Jun 25, 2020
The combined net profit of the four listed nonlife insurers in South Korea is expected to rise nearly 15% year-over-year to 5.3 trillion South Korean won ($4.4 billion) in the second quarter.
Posted: Jun 25, 2020
An official said that Chinese hackers have attempted 40,300 cyber attacks on India's information technology infrastructure and banking sector in the last four to five days.
Posted: Jun 25, 2020
Operations at Mexican petroleum firm Petroleos Mexicanos' (Pemex) Salina Cruz oil refinery has been halted after a fire broke out following the 7.4-magnitude earthquake, which hit the state of Oaxaca on June 23.
Posted: Jun 25, 2020
Bahrain-based Trust International Insurance & Reinsurance Co. BSC plans to centralize all its activities at its head office in Bahrain, and cease operations at its Labuan and Morocco branches.
Posted: Jun 25, 2020
The Japan Meteorological Agency said that an earthquake of magnitude 6.1 hit eastern Japan on June 25, and rocked buildings in Tokyo and surrounding prefectures.
Posted: Jun 25, 2020
Sectors including aviation, hospitality, executive risks and property insurance are facing higher rates because of the pandemic, but others, including cyber, have been less significantly impacted, says a report issued by EPIC Insurance Brokers & Cons...
Posted: Jun 24, 2020