Business Insurance
The insurance broker for a Kansas City, Missouri, barbecue chain asked a court this week to throw out a negligence claim brought by the company alleging the broker was in part responsible for an insurer’s denial of coverage for coronavirus-related bu...
Posted: Jun 05, 2020
Argo Group International Holdings Ltd. has agreed to pay a $900,000 civil fine to settle U.S. Securities and Exchange Commission charges that it failed to disclose millions of dollars in executive perks provided to former CEO Mark Watson.
Posted: Jun 05, 2020
An employee who witnessed the death of his co-worker cannot bring a claim for emotional distress against his employer, an appellate court held Thursday.
Posted: Jun 05, 2020
Companies working on self-driving vehicles have criticized an insurance industry study suggesting that only a third of all U.S. road crashes could be prevented by driverless cars, arguing that the study has underestimated the technology's capabilitie...
Posted: Jun 05, 2020
A federal appeals court has reversed its previous ruling and reinstated litigation filed by a law firm against its legal malpractice insurer.
Posted: Jun 05, 2020
A W.R. Berkley Corp. unit has prevailed in litigation with a construction firm over a Miami Dolphins football stadium renovation, with the court ruling the claim was filed outside the time limit imposed by its claims-made coverage.
Posted: Jun 05, 2020
Claims administration firm Global Risks Solutions Inc. launched a major complex loss unit on Thursday with loss adjusting teams based in the United Kingdom and the United States.
Posted: Jun 05, 2020
Will a bump become the new glass-toasting cheers? Bars and restaurants excited to reopen are getting creative with social distancing requirements to comply with municipal guidelines aimed at preventing the spread of COVID-19.
Posted: Jun 05, 2020
Colorado lawmakers on Tuesday sent to Gov. Jared Polis a bill that would make workers subjected to audible psychological trauma eligible for workers compensation benefits.
Posted: Jun 05, 2020
Airbus is ready to sue airlines that refuse to honor contracts to take aircraft, its chief executive was quoted on Friday as saying, raising the stakes in a stand-off between some manufacturers and airlines over the coronavirus crisis.
Posted: Jun 05, 2020
Annual rankings of the highest-paid insurance and brokerage executives topped this week’s news. An analysis of the combined impact of the recent rioting and the ongoing COVID-19 pandemic on lost income claims also has generated much interest.
Posted: Jun 05, 2020
U.S. trade credit insurers have approached the U.S. Treasury Department and Federal Reserve seeking financial backing for claims payments to support business supply chains hit by the novel coronavirus pandemic, three people familiar with the matter s...
Posted: Jun 05, 2020
U.K.-based insurance broker PIB Group Ltd. has acquired Germany-based Marx Re-Insurance Brokers GmbH for an undisclosed amount, expanding its presence in the reinsurance market.
Posted: Jun 05, 2020
The chemical factory in the Indian state of Gujarat, where a boiler blast on June 3 killed eight workers and injured 50 others, is insured for more than 3.1 billion Indian rupees ($41 million).
Posted: Jun 05, 2020
Greenpeace Russia said that the spill of more than 20,000 liters of diesel into a Siberian river has caused at least 6 billion Russian rubles ($87 million) worth of damage to waterways above the Arctic Circle.
Posted: Jun 05, 2020
U.K.-based systematic catastrophe reinsurer TotusRe Ltd. has proposed a cell insurance structure and the use of retrocessional reinsurance to cover multiple risks of national importance.
Posted: Jun 05, 2020
Airline insurers in India expect a rise in claims after two cyclones hit the country in quick succession, but they do not expect to take a big hit due to adequate reinsurance cover.
Posted: Jun 05, 2020
Indonesian low-cost airline PT Lion Mentari Airlines grounded all its international and domestic flights on June 5 until further notice, just five days after it resumed flying.
Posted: Jun 05, 2020
U.S.-based Moody's Corp. said that Japan's top three property/casualty insurers reported solid premium growth, profitability and capitalization in the financial year ended March, despite natural catastrophe losses.
Posted: Jun 05, 2020
A report by U.S.-based A.M. Best Co. Inc. said that lower oil prices and economic slowdown in the Gulf Cooperation Council will hurt underwriting and the assets of insurers in the region.
Posted: Jun 05, 2020
Regulators need to address transparency and accounting issues at companies based in foreign jurisdictions that are looking to go public through the U.S. markets, Nasdaq Inc. Chief Executive Adena Friedman said on Thursday.
Posted: Jun 04, 2020
As medicinal cannabis is made legal in an increasing number of states, physicians should ensure they are fully informed on the effects of the drug, even if they don’t prescribe cannabis themselves, a panel of experts said.
Posted: Jun 04, 2020
Higginbotham Insurance Group Inc. has acquired Ascend Insurance Brokerage, a Dallas-based firm specializing in placing insurance for the entertainment industry.
Posted: Jun 04, 2020
Next event in the pandemic’s is-this-covered insurance Olympics: the Olympics itself. Specifically, whether the $650 million it is going to potentially cost to postpone the 2020 Summer Olympics to 2021 will be covered by the event’s insurance policy.
Posted: Jun 04, 2020
U.S. insurer CEOs expressed optimism Thursday that business interruption policy wordings on commercial property insurance policies related to the coronavirus pandemic will hold.
Posted: Jun 04, 2020