Business Insurance
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
U.S.-based investment firm Searchlight Capital Partners LP has completed the acquisition of a majority stake in U.K.-based insurance broker Global Risk Partners Ltd.
Posted: Jun 16, 2020
Data from the Financial Regulatory Authority of Egypt showed that overall insurance premiums increased 15.6% year-over-year to nearly 9.5 billion Egyptian pounds ($586 million) in the first quarter.
Posted: Jun 16, 2020
India-based Bharti Axa General Insurance Co. Ltd.'s gross written premiums totaled 31.6 billion Indian rupees ($417 million) in the financial year ended March 31, up 38% from the previous year.
Posted: Jun 16, 2020
A member of an insurer’s founding family is a contractor, not an employee, and therefore cannot file a whistleblower suit, a federal district court ruled.
Posted: Jun 15, 2020
Aon PLC on Monday said it has formed a coalition of Chicago-area employers and organizations from a range of industry sectors to work together to help move the economy forward in the recovery phase of COVID-19.
Posted: Jun 15, 2020
In a ruling that hinged on the definition of “sublimit,” a federal appeals court affirmed Friday that excess insurer StarStone National Insurance Co. is not obligated to provide coverage in connection with an attempted murder at a Florida hotel.
Posted: Jun 15, 2020
Eric Seyfried, formerly a senior cyber insurance expert at Aon PLC, has joined Axis Insurance, the unit of Axis Capital Holdings Ltd. announced Monday.
Posted: Jun 15, 2020